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REGISTERED NUMBER: 14695711 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 28 FEBRUARY 2023 TO 31 MARCH 2024

FOR

PSG MIDLANDS LTD

PSG MIDLANDS LTD (REGISTERED NUMBER: 14695711)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 28 FEBRUARY 2023 TO 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PSG MIDLANDS LTD

COMPANY INFORMATION
FOR THE PERIOD 28 FEBRUARY 2023 TO 31 MARCH 2024







DIRECTOR: P S Shergill





SECRETARY: P S Shergill





REGISTERED OFFICE: 400 Bilston Road
Ettingshall
Wolverhampton
West Midlands
WV2 2PD





REGISTERED NUMBER: 14695711 (England and Wales)





ACCOUNTANTS: SPS Accounting Ltd
1st Floor
44 Queen Street
Wolverhampton
West Midlands
WV1 3BJ

PSG MIDLANDS LTD (REGISTERED NUMBER: 14695711)

BALANCE SHEET
31 MARCH 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 72,000
Tangible assets 5 2,405
74,405

CURRENT ASSETS
Stocks 2,690
Prepayments and accrued income 612
Cash at bank and in hand 36,916
40,218
CREDITORS
Amounts falling due within one year 6 32,638
NET CURRENT ASSETS 7,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,985

CAPITAL AND RESERVES
Called up share capital 82,721
Retained earnings (736 )
SHAREHOLDERS' FUNDS 81,985

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

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

The director acknowledges his 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.

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 director and authorised for issue on 25 November 2024 and were signed by:




P S Shergill - Director


PSG MIDLANDS LTD (REGISTERED NUMBER: 14695711)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 28 FEBRUARY 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

PSG Midlands Ltd 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.

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

Goodwill
Goodwill, being the amount arising on incorporation of a sole trader business of the shareholder to the company in 2023, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

PSG MIDLANDS LTD (REGISTERED NUMBER: 14695711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28 FEBRUARY 2023 TO 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 28 February 2023
and 31 March 2024 80,000
AMORTISATION
Charge for period 8,000
At 31 March 2024 8,000
NET BOOK VALUE
At 31 March 2024 72,000
At 27 February 2023 80,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 28 February 2023
and 31 March 2024 2,829
DEPRECIATION
At 28 February 2023
and 31 March 2024 424
NET BOOK VALUE
At 31 March 2024 2,405
At 27 February 2023 2,405

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 5,311
Taxation and social security 9,417
Other creditors 17,910
32,638