IRIS Accounts Production v24.3.0.553 09484543 Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094845432023-03-31094845432024-03-31094845432023-04-012024-03-31094845432022-03-31094845432022-04-012023-03-31094845432023-03-3109484543ns15:EnglandWales2023-04-012024-03-3109484543ns14:PoundSterling2023-04-012024-03-3109484543ns10:Director12023-04-012024-03-3109484543ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3109484543ns10:SmallEntities2023-04-012024-03-3109484543ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3109484543ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3109484543ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109484543ns10:FullAccounts2023-04-012024-03-3109484543ns10:Director22023-04-012024-03-3109484543ns10:RegisteredOffice2023-04-012024-03-3109484543ns5:CurrentFinancialInstruments2024-03-3109484543ns5:CurrentFinancialInstruments2023-03-3109484543ns5:ShareCapital2024-03-3109484543ns5:ShareCapital2023-03-3109484543ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3109484543ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3109484543ns5:RetainedEarningsAccumulatedLosses2024-03-3109484543ns5:RetainedEarningsAccumulatedLosses2023-03-3109484543ns5:FurnitureFittings2023-04-012024-03-3109484543ns5:ComputerEquipment2023-04-012024-03-3109484543ns5:FurnitureFittings2023-03-3109484543ns5:ComputerEquipment2023-03-3109484543ns5:FurnitureFittings2024-03-3109484543ns5:ComputerEquipment2024-03-3109484543ns5:FurnitureFittings2023-03-3109484543ns5:ComputerEquipment2023-03-3109484543ns5:CostValuation2023-03-3109484543ns5:RevaluationsIncreaseDecreaseInInvestments2024-03-3109484543ns5:TransfersBetweenInvestmentClassesIncreaseDecreaseInInvestments2024-03-3109484543ns5:CostValuation2024-03-3109484543ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3109484543ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3109484543ns5:RetainedEarningsAccumulatedLosses2023-03-3109484543ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3109484543ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31094845431ns10:Director12023-03-31094845431ns10:Director12022-03-31094845431ns10:Director12023-04-012024-03-31094845431ns10:Director12022-04-012023-03-31094845431ns10:Director12024-03-31094845431ns10:Director12023-03-3109484543ns10:Director222023-03-3109484543ns10:Director222022-03-3109484543ns10:Director222023-04-012024-03-3109484543ns10:Director222022-04-012023-03-3109484543ns10:Director222024-03-3109484543ns10:Director222023-03-31
REGISTERED NUMBER: 09484543 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 March 2024

for

PSM Associates Limited

PSM Associates Limited (Registered number: 09484543)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PSM Associates Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr S H Lennon
Mrs K S Lennon





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY





REGISTERED NUMBER: 09484543 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

PSM Associates Limited (Registered number: 09484543)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,526 1,048
Investments 5 48,831 44,865
50,357 45,913

CURRENT ASSETS
Debtors 6 192,837 107,243
Cash at bank 311,327 218,889
504,164 326,132
CREDITORS
Amounts falling due within one year 7 (23,876 ) (22,604 )
NET CURRENT ASSETS 480,288 303,528
TOTAL ASSETS LESS CURRENT LIABILITIES 530,645 349,441

PROVISIONS FOR LIABILITIES (1,526 ) -
NET ASSETS 529,119 349,441

CAPITAL AND RESERVES
Called up share capital 8 11 11
Fair value reserve 9 3,431 -
Retained earnings 9 525,677 349,430
SHAREHOLDERS' FUNDS 529,119 349,441

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

PSM Associates Limited (Registered number: 09484543)

Balance Sheet - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by:





Mr S H Lennon - Director


PSM Associates Limited (Registered number: 09484543)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

PSM Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

PSM Associates Limited (Registered number: 09484543)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 - 2,405 2,405
Additions 772 - 772
At 31 March 2024 772 2,405 3,177
DEPRECIATION
At 1 April 2023 - 1,357 1,357
Charge for year 32 262 294
At 31 March 2024 32 1,619 1,651
NET BOOK VALUE
At 31 March 2024 740 786 1,526
At 31 March 2023 - 1,048 1,048

5. FIXED ASSET INVESTMENTS
Interest
in Other
associate investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 7 44,858 44,865
Revaluations - 3,966 3,966
Reclassification/transfer 15,000 (15,000 ) -
At 31 March 2024 15,007 33,824 48,831
NET BOOK VALUE
At 31 March 2024 15,007 33,824 48,831
At 31 March 2023 7 44,858 44,865

Cost or valuation at 31 March 2024 is represented by:

Interest
in Other
associate investments Totals
£    £    £   
Valuation in 2022 - 2,190 2,190
Valuation in 2023 - (1,582 ) (1,582 )
Valuation in 2024 - 3,966 3,966
Cost 15,007 29,250 44,257
15,007 33,824 48,831

PSM Associates Limited (Registered number: 09484543)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 129,096 65,299
Directors' current accounts 19,980 19,890
Tax 43,761 22,054
192,837 107,243

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax 22,868 22,054
Accrued expenses 1,008 550
23,876 22,604

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

97 Ordinary A each with a nominal value of £9.7
10 Ordinary B each with a nominal value of £1
1 Ordinary C each with a nominal value of £0.10
1 Ordinary D each with a nominal value of £0.10
1 Ordinary E each with a nominal value of £0.10

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 349,430 - 349,430
Profit for the year 202,878 - 202,878
Dividends (23,200 ) - (23,200 )
Assets revalued in period (3,431 ) 3,431 -
At 31 March 2024 525,677 3,431 529,108

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr S H Lennon
Balance outstanding at start of year 9,990 9,942
Amounts advanced 9,990 9,990
Amounts repaid (9,990 ) (9,942 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,990 9,990

PSM Associates Limited (Registered number: 09484543)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs K S Lennon
Balance outstanding at start of year 9,900 9,900
Amounts advanced 9,990 9,900
Amounts repaid (9,900 ) (9,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,990 9,900

11. RELATED PARTY DISCLOSURES

During the year, PSM Associates Limited invoiced for consultancy work completed for its associate, Service Charge Associates Limited, to the value of £25,691(2023 - £3,733) and received dividends of £173,962 (2023 - £109,882). No amounts were outstanding at the year end.

The company loaned £65,000 to a related party during the year. Interest is charged on the loan at 2.25%. At the year end, the loan balance was £64,780.

Last year the company loaned £65,000 to a related party. Interest is charged on the loan at 2.25%. At the end of the year the value of the loan was £64,316.