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REGISTERED NUMBER: SC274074 (Scotland)















Unaudited Financial Statements

for the Year Ended 29 March 2024

for

PSI Investments (UK) Ltd.

PSI Investments (UK) Ltd. (Registered number: SC274074)






Contents of the Financial Statements
for the Year Ended 29 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PSI Investments (UK) Ltd.

Company Information
for the Year Ended 29 March 2024







DIRECTORS: Mr P G Innes
Mrs S K Innes





REGISTERED OFFICE: Petersfield
Kemnay
Aberdeenshire
AB51 5PR





REGISTERED NUMBER: SC274074 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

PSI Investments (UK) Ltd. (Registered number: SC274074)

Balance Sheet
29 March 2024

29.3.24 29.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 374
Investments 5 43,375 43,375
43,375 43,749

CURRENT ASSETS
Stocks 18,680 18,680
Debtors 6 3,125 3,106
Cash at bank 1,841 8,095
23,646 29,881
CREDITORS
Amounts falling due within one year 7 3,617 5,021
NET CURRENT ASSETS 20,029 24,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,404

68,609

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 63,304 68,509
63,404 68,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

PSI Investments (UK) Ltd. (Registered number: SC274074)

Balance Sheet - continued
29 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





Mr P G Innes - Director


PSI Investments (UK) Ltd. (Registered number: SC274074)

Notes to the Financial Statements
for the Year Ended 29 March 2024

1. STATUTORY INFORMATION

PSI Investments (UK) Ltd. is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

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 Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

PSI Investments (UK) Ltd. (Registered number: SC274074)

Notes to the Financial Statements - continued
for the Year Ended 29 March 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 30 March 2023 10,439 4,030 3,500 17,969
Disposals - (1,730 ) - (1,730 )
At 29 March 2024 10,439 2,300 3,500 16,239
DEPRECIATION
At 30 March 2023 10,065 4,030 3,500 17,595
Charge for year 374 - - 374
Eliminated on disposal - (1,730 ) - (1,730 )
At 29 March 2024 10,439 2,300 3,500 16,239
NET BOOK VALUE
At 29 March 2024 - - - -
At 29 March 2023 374 - - 374

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
29.3.24 29.3.23
£    £   
Other investments cost 43,375 43,375

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.3.24 29.3.23
£    £   
Trade debtors 2,880 2,880
Other debtors 245 226
3,125 3,106

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.3.24 29.3.23
£    £   
Trade creditors 1,688 842
Other creditors 1,929 4,179
3,617 5,021

PSI Investments (UK) Ltd. (Registered number: SC274074)

Notes to the Financial Statements - continued
for the Year Ended 29 March 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 March 2024 and 29 March 2023:

29.3.24 29.3.23
£    £   
Mrs S K Innes
Balance outstanding at start of year (135 ) (68,529 )
Amounts advanced - 74,894
Amounts repaid - (6,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (135 ) (135 )

Mr P G Innes
Balance outstanding at start of year (544 ) (544 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (544 ) (544 )

9. RELATED PARTY DISCLOSURES

Included in Rents received is £9,600 (2023: £9,600) received from Safelift Offshore Limited, a company registered in Scotland, of which Mr P G Innes is a director.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, who between them own 100% of the issued share capital.