2022-12-30 04951240 2023-12-29 04951240 2022-12-30 2023-12-29 04951240 2022-12-29 04951240 2021-12-30 2022-12-29 04951240 uk-core:WithinOneYear 2022-12-29 04951240 uk-core:WithinOneYear 2023-12-29 04951240 uk-core:AfterOneYear 2022-12-29 04951240 uk-core:AfterOneYear 2023-12-29 04951240 uk-core:ShareCapital 2023-12-29 04951240 uk-core:ShareCapital 2022-12-29 04951240 uk-core:RetainedEarningsAccumulatedLosses 2023-12-29 04951240 uk-core:RetainedEarningsAccumulatedLosses 2022-12-29 04951240 uk-bus:Director1 2022-12-30 2023-12-29 04951240 uk-core:ToolsEquipment 2022-12-30 2023-12-29 04951240 uk-core:ComputerEquipment 2022-12-30 2023-12-29 04951240 uk-core:MotorVehicles 2022-12-30 2023-12-29 04951240 uk-core:ComputerEquipment 2022-12-29 04951240 uk-core:MotorVehicles 2022-12-29 04951240 uk-core:ToolsEquipment 2022-12-29 04951240 uk-core:ToolsEquipment 2023-12-29 04951240 uk-core:MotorVehicles 2023-12-29 04951240 uk-core:ComputerEquipment 2023-12-29 04951240 uk-core:CostValuation 2022-12-29 04951240 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2022-12-29 04951240 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2023-12-29 04951240 uk-core:CostValuation 2023-12-29 04951240 uk-core:Non-currentFinancialInstruments 2023-12-29 04951240 uk-core:Non-currentFinancialInstruments 2022-12-29 04951240 uk-core:WithinOneYear 2023-12-29 04951240 uk-core:WithinOneYear 2022-12-29 04951240 uk-core:AfterOneYear uk-core:Secured 2023-12-29 04951240 uk-core:AfterOneYear uk-core:Secured 2022-12-29 iso4217:GBP xbrli:pure 04951240 uk-bus:AuditExemptWithAccountantsReport 2022-12-30 2023-12-29 04951240 uk-bus:FRS102 2022-12-30 2023-12-29 04951240 uk-bus:FilletedAccounts 2022-12-30 2023-12-29 04951240 uk-bus:PrivateLimitedCompanyLtd 2022-12-30 2023-12-29
PS 1 Ltd
Registered Number:04951240
For the year ended 29 December 2023
England and Wales
Unaudited Financial Statements
2
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
3
Registered Number :
04951240
As at 29 December 2023
PS 1 Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
33,102
38,401
2
3
1,400,000
1,400,000
Investment property
Financial assets
50
50
4
1,433,152
1,438,451
Current assets
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
Capital and reserves
Called up share capital
1
1
Retained earnings
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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4
Registered Number :
04951240
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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5
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.
Registered address:
9 Knightsbridge Court
Chester
CH1 1QG
The presentation currency is £ sterling.
1. Accounting policies
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
10 Straight line
40 Reducing balance
Computer Equipment
20 Reducing balance
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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6
For the year ended 29 December 2023
PS 1 Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Motor Vehicles
Plant and
Machinery
£
£
£
£
Cost or
valuation
At 30 December 2022
71,786
1,691
57,520
12,575
567
567
-
-
Additions
At 29 December 2023
12,575
57,520
2,258
72,353
Provision for depreciation and impairment
At 30 December 2022
33,385
892
21,750
10,743
Charge for year
5,866
414
5,004
448
At 29 December 2023
39,251
1,306
26,754
11,191
At 29 December 2023
Net book value
1,384
30,766
952
33,102
At 29 December 2022
1,832
35,770
799
38,401
3. Investment property
Total
£
Fair value
At 30 December 2022
1,400,000
At 29 December 2023
1,400,000
Net book value
At 29 December 2023
1,400,000
At 29 December 2022
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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7
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
Total
At 30 December 2022
50
50
Cost
£
£
At 29 December 2023
50
50
At 29 December 2023
Net book value
50
50
At 30 December 2022
50
50
5. Trade and other receivables
2022
2023
£
£
Trade debtors
-
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
£
£
Bank loans and overdraft
5,019
4,945
Trade creditors
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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8
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
£
£
Bank loans and overdraft
7,440
12,473
1,064,958
1,007,387
Directors' loan accounts
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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