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REGISTERED NUMBER: 01537169















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

PROFESSIONAL REMEDIAL SERVICES LIMITED

PROFESSIONAL REMEDIAL SERVICES LIMITED (REGISTERED NUMBER: 01537169)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PROFESSIONAL REMEDIAL SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 31st March 2024







DIRECTORS: R M Newman
S Newman
J Hosker





SECRETARY: S Newman





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 01537169





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

PROFESSIONAL REMEDIAL SERVICES LIMITED (REGISTERED NUMBER: 01537169)

STATEMENT OF FINANCIAL POSITION
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 114,455 103,700

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 5 217,204 232,890
Cash at bank and in hand 128,876 247,960
347,080 481,850
CREDITORS
Amounts falling due within one year 6 (312,090 ) (416,294 )
NET CURRENT ASSETS 34,990 65,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

149,445

169,256

CREDITORS
Amounts falling due after more than one
year

7

(44,349

)

(43,993

)

PROVISIONS FOR LIABILITIES (28,614 ) (25,449 )
NET ASSETS 76,482 99,814

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 76,382 99,714
SHAREHOLDERS' FUNDS 76,482 99,814

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

PROFESSIONAL REMEDIAL SERVICES LIMITED (REGISTERED NUMBER: 01537169)

STATEMENT OF FINANCIAL POSITION - continued
31st March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th September 2024 and were signed on its behalf by:





R M Newman - Director


PROFESSIONAL REMEDIAL SERVICES LIMITED (REGISTERED NUMBER: 01537169)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024


1. STATUTORY INFORMATION

Professional Remedial Services Limited is a private company, limited by shares, registered in England and Wales, registration number 01537169. The address of the registered office is 100 Barbirolli Square, Manchester, United Kingdom, M2 3BD. The address of the principal place of business is Unit 8, Edge Lane Street, Parkside Industrial Estate, Royton, Oldham, OL2 6DS.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Turnover is recognised from the service of providing installation of damp proof courses and general property improvements in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts and settlement discounts.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Plant and machinery-25% on reducing balance
Fixtures and fittings-20% on reducing balance
Motor vehicles-25% on reducing balance
Computer equipment-20% on reducing balance

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of tangible fixed assets have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


PROFESSIONAL REMEDIAL SERVICES LIMITED (REGISTERED NUMBER: 01537169)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


2. ACCOUNTING POLICIES - continued
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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

PROFESSIONAL REMEDIAL SERVICES LIMITED (REGISTERED NUMBER: 01537169)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2023 66,312 15,332 158,023 22,018 261,685
Additions 5,425 - 35,384 2,289 43,098
Disposals - - (15,450 ) - (15,450 )
At 31st March 2024 71,737 15,332 177,957 24,307 289,333
DEPRECIATION
At 1st April 2023 44,725 11,513 81,741 20,006 157,985
Charge for year 6,100 764 22,977 440 30,281
Eliminated on disposal - - (13,388 ) - (13,388 )
At 31st March 2024 50,825 12,277 91,330 20,446 174,878
NET BOOK VALUE
At 31st March 2024 20,912 3,055 86,627 3,861 114,455
At 31st March 2023 21,587 3,819 76,282 2,012 103,700

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 192,000 199,414
Other debtors 25,204 33,476
217,204 232,890

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,833 10,000
Hire purchase contracts 15,292 7,395
Trade creditors 91,945 137,555
Taxation and social security 50,036 88,535
Other creditors 143,984 172,809
312,090 416,294

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 10,834 21,666
Hire purchase contracts 33,515 22,327
44,349 43,993

PROFESSIONAL REMEDIAL SERVICES LIMITED (REGISTERED NUMBER: 01537169)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 48,807 29,722

The bank overdraft is secured by way of a fixed and floating charge on the assets of the company. Hire purchase contracts are secured by way of a floating charge over the related assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
98 Ordinary £1.00 98 100
2 C Ordinary £1.00 2 -
100 100