Registered number
04557405
PDS Computer Software Limited
Unaudited Filleted Accounts
31 December 2023
Robertson & Co
Chartered Accountants
Leicester
PDS Computer Software Limited
Registered number: 04557405
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 27 1,000
Current assets
Debtors 4 43,993 109,848
Cash at bank and in hand 159,807 210,419
203,800 320,267
Creditors: amounts falling due within one year 5 (15,840) (31,745)
Net current assets 187,960 288,522
Total assets less current liabilities 187,987 289,522
Provisions for liabilities (5) (190)
Net assets 187,982 289,332
Capital and reserves
Called up share capital 100 100
Profit and loss account 187,882 289,232
Shareholders' funds 187,982 289,332
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P G Drew
Director
Approved by the board on 25 September 2024
PDS Computer Software Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Development costs
The costs of the development of the software for which the company holds the intellectual property rights are charged to profit in the periood incurred. Accordingly the value of that software to the company is not rflected in the company's financial statements.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer hardware and software over 3 years
Office furniture and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Computer equipment Office equipment Total
£ £ £
Cost
At 1 January 2023 13,952 4,284 18,236
At 31 December 2023 13,952 4,284 18,236
Depreciation
At 1 January 2023 12,968 4,268 17,236
Charge for the year 973 - 973
At 31 December 2023 13,941 4,268 18,209
Net book value
At 31 December 2023 11 16 27
At 31 December 2022 984 16 1,000
4 Debtors 2023 2022
£ £
Trade debtors 13,722 108,569
Prepayments 1,252 1,279
Corporation tax receverable 12,678 -
Deferred tax asset 10,442 -
Other debtors 5,899 -
43,993 109,848
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 588 361
Loans from connected parties 2 1,776
Taxation and social security costs 6,750 24,108
Other accruals 8,500 5,500
15,840 31,745
6 Controlling party
The company is under the control of Mr P G Drew and Dr J C Berryman who, together, own 100% of the issued share capital.
7 Other information
PDS Computer Software Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Knighton Grange Road
Leicester
LE2 2LF
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