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REGISTERED NUMBER: 09436490 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

POWER SYSTEMS CONSULTANTS UK LIMITED

POWER SYSTEMS CONSULTANTS UK LIMITED (REGISTERED NUMBER: 09436490)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


POWER SYSTEMS CONSULTANTS UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: A C Boyd





REGISTERED OFFICE: The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN





REGISTERED NUMBER: 09436490 (England and Wales)





AUDITORS: Cooper Parry Group Limited
Statutory Auditor
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

POWER SYSTEMS CONSULTANTS UK LIMITED (REGISTERED NUMBER: 09436490)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 18,105 6,657
Tangible assets 5 13,232 35,847
Investments 6 4,833 4,833
36,170 47,337

CURRENT ASSETS
Debtors 7 2,216,129 2,428,200
Cash at bank 478,614 468,338
2,694,743 2,896,538
CREDITORS
Amounts falling due within one year 8 800,516 1,153,750
NET CURRENT ASSETS 1,894,227 1,742,788
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,930,397

1,790,125

CREDITORS
Amounts falling due after more than one
year

9

(873,261

)

(727,323

)

PROVISIONS FOR LIABILITIES (3,122 ) (10,626 )
NET ASSETS 1,054,014 1,052,176

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Other reserves 16,754 11,855
Retained earnings 1,036,260 1,039,321
SHAREHOLDERS' FUNDS 1,054,014 1,052,176

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 and authorised for issue by the director and authorised for issue on 5 November 2024 and were signed by:




A C Boyd - Director


POWER SYSTEMS CONSULTANTS UK LIMITED (REGISTERED NUMBER: 09436490)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Power Systems Consultants UK 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
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

The Company is a member of a wider group who consider the UK market to be a key territory for growth. As such, they have committed to both existing and new financing facilities should the need arise.

Foreign currency translation
Functional and presentation currency
The Company's functional and presentational currency is GBP.

Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

POWER SYSTEMS CONSULTANTS UK LIMITED (REGISTERED NUMBER: 09436490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Interest income
Interest income is recognised in the Statement of comprehensive income using the effective interest
method.

Finance costs
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Pensions
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of 1 year.

POWER SYSTEMS CONSULTANTS UK LIMITED (REGISTERED NUMBER: 09436490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

- Fixtures and fittings - 1-5 years
- Office equipment - 1-3 years
- Computer equipment - 1-3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Financial Instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.


POWER SYSTEMS CONSULTANTS UK LIMITED (REGISTERED NUMBER: 09436490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Trade and other debtors and creditors are classified as basic financial instruments are initially measured at transaction price.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and short-term bank deposits with an original maturity of three months or less.

Loans and borrowings are classified as basic financial instruments and are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Investments in subsidiaries
Investments in subsidiary 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.

Share-based payments
The cost and corresponding increase in equity in respect of equity-settled share-based payment transactions with employees are measured by reference to the fair value of equity instruments issued at the date of grant.

This is shown through other reserves and represents a group plan.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2023 - 46 ) .

POWER SYSTEMS CONSULTANTS UK LIMITED (REGISTERED NUMBER: 09436490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£ £ £
COST
At 1 April 2023 250,000 137,410 387,410
Additions - 43,452 43,452
At 31 March 2024 250,000 180,862 430,862
AMORTISATION
At 1 April 2023 250,000 130,753 380,753
Charge for year - 32,004 32,004
At 31 March 2024 250,000 162,757 412,757
NET BOOK VALUE
At 31 March 2024 - 18,105 18,105
At 31 March 2023 - 6,657 6,657

5. TANGIBLE FIXED ASSETS
Office Computer
equipment equipment Totals
£ £ £
COST
At 1 April 2023 11,126 176,533 187,659
Additions 165 24,067 24,232
Disposals - (4,997 ) (4,997 )
At 31 March 2024 11,291 195,603 206,894
DEPRECIATION
At 1 April 2023 7,756 144,056 151,812
Charge for year 1,475 45,372 46,847
Eliminated on disposal - (4,997 ) (4,997 )
At 31 March 2024 9,231 184,431 193,662
NET BOOK VALUE
At 31 March 2024 2,060 11,172 13,232
At 31 March 2023 3,370 32,477 35,847

POWER SYSTEMS CONSULTANTS UK LIMITED (REGISTERED NUMBER: 09436490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 April 2023
and 31 March 2024 4,833
NET BOOK VALUE
At 31 March 2024 4,833
At 31 March 2023 4,833

7. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 1,003,900 1,529,386
Amounts owed by group undertakings 605,485 260,661
Other debtors 21,111 14,291
Prepayments and accrued income 344,267 377,016
1,974,763 2,181,354

Amounts falling due after more than one year:
Amounts owed by group undertakings 241,366 246,846

Aggregate amounts 2,216,129 2,428,200

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 61,654 135,246
Amounts owed to group undertakings 113,740 79,988
Tax 6,723 40,248
Social security and other taxes 363,310 178,760
Other creditors 50,648 38,393
Accruals and deferred income 204,441 681,115
800,516 1,153,750

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Amounts owed to group undertakings 873,261 727,323

POWER SYSTEMS CONSULTANTS UK LIMITED (REGISTERED NUMBER: 09436490)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 34,809 37,413
Between one and five years 2,723 9,350
37,532 46,763

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1,000,000 Ordinary £0.0001 1,000 1,000

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Thomas FCCA (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. ULTIMATE CONTROLLING PARTY

The controlling party and ultimate parent of Power Systems Consultants UK Limited is PSC Specialists Group Inc, a company incorporated in the United States of America.