Registered Number:04951240 |
For the year ended 29 December 2023
England and Wales
Unaudited Financial Statements
For the year ended 29 December 2023
PS 1 Ltd
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
PS 1 Ltd
Statement of Financial Position
2022
2023
Property, plant and equipment |
33,102
38,401
2
3
1,400,000
1,400,000
50
50
4
1,433,152
1,438,451
Trade and other receivables |
132,728
76,986
5
4,227
Cash and cash equivalents |
1,686
78,672
136,955
Trade and other payables: amounts falling due within one |
year |
(31,460)
(23,788)
6
105,495
54,884
Net current assets
Total assets less current liabilities |
1,488,036
1,543,946
Trade and other payables: amounts falling due after more |
than one year |
(1,092,208)
(1,025,057)
7
(6,108)
-
Provisions for liabilities |
456,871
Net assets
451,738
1
1
456,870
451,737
456,871
451,738
Shareholders' funds
For the year ended 29 December 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 29 December 2023
PS 1 Ltd
Statement of Financial Position Continued
Andrew Robertson Director |
These financial statements were approved and authorised for issue by the Board on 26 September 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 29 December 2023
PS 1 Ltd
Notes to the Financial Statements
Statutory Information
PS 1 Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number |
04951240. |
9 Knightsbridge Court
Chester
CH1 1QG
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Computer Equipment
Motor Vehicles
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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For the year ended 29 December 2023
PS 1 Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment |
Motor Vehicles
71,786
1,691
57,520
12,575
567
567
-
-
12,575
57,520
2,258
72,353
Provision for depreciation and impairment |
33,385
892
21,750
10,743
Charge for year
5,866
414
5,004
448
39,251
1,306
26,754
11,191
1,384
30,766
952
33,102
1,832
35,770
799
38,401
1,400,000
1,400,000
1,400,000
1,400,000
The fair value of the investment property was arrived at on the basis of a valuation carried out at 31 December 2023 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. |
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For the year ended 29 December 2023
PS 1 Ltd
Notes to the Financial Statements Continued
4. Investments held as fixed assets |
Shares in group and participating interests |
50
50
50
50
50
50
50
50
5. Trade and other receivables |
2022
2023
-
39,967
Amounts owed by group undertakings and participating interests |
74,951
74,951
Prepayments and accrued income |
-
14,966
Taxation and social security |
2,035
2,844
132,728
76,986
The debtors above include the following amounts falling due after more than one year: |
Amounts owed by group undertakings and participating interests |
74,951
74,951
6. Trade and other payables: amounts falling due within one year |
2022
2023
5,019
4,945
129
-
Accruals and deferred income |
12,673
15,318
Obligations under HP/Financial leases |
5,967
11,197
23,788
31,460
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For the year ended 29 December 2023
PS 1 Ltd
Notes to the Financial Statements Continued
7. Trade and other payables: amounts falling due after more than one year |
2022
2023
7,440
12,473
1,064,958
1,007,387
14,777
10,230
Obligations under HP/Financial leases |
1,025,057
1,092,208
8. Related party transactions |
Included in debtors is a balance owing from Highway Star Ltd, a company operated by Mr A Robertson (director), |
amounting to £74,951 (2022: £74,951). PS 1 Ltd is and Mr A Robertson both control the company by virtue of a |
controlling interest of 50% of share capital each. |
9. Average number of persons employed |
During the year the average number of employees was 1 (2022 : 1)
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