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REGISTERED NUMBER: 05459103 (England and Wales)









Unaudited Financial Statements

for the Year Ended 29 February 2024

for

PSS Properties Services Limited

PSS Properties Services Limited (Registered number: 05459103)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


PSS Properties Services Limited (Registered number: 05459103)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,165 29,041
Investment property 5 4,637,695 4,885,595
4,655,860 4,914,636

CURRENT ASSETS
Debtors 6 271,290 70,000
Cash at bank 76,985 46,588
348,275 116,588
CREDITORS
Amounts falling due within one year 7 (2,983,734 ) (2,915,829 )
NET CURRENT LIABILITIES (2,635,459 ) (2,799,241 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,020,401 2,115,395

CREDITORS
Amounts falling due after more than one
year

8

(16,666

)

(147,491

)

PROVISIONS FOR LIABILITIES (431,665 ) (383,381 )
NET ASSETS 1,572,070 1,584,523

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 9 1,294,997 1,533,526
Retained earnings 277,072 50,996
1,572,070 1,584,523

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

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

PSS Properties Services Limited (Registered number: 05459103)

Balance Sheet - continued
29 February 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 director and authorised for issue on 28 November 2024 and were signed by:





Mr P S Schofield - Director


PSS Properties Services Limited (Registered number: 05459103)

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

1. STATUTORY INFORMATION

PSS Properties Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05459103

Registered office: Ramsdell Hall
Station Road
Scholar Green
Stoke-on-Trent
Staffordshire
ST7 3LS

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.

Rental income from investment properties leased out under operating leases is recognised in the statement of comprehensive income on a straight-line basis over the term of the lease.

When the outcome of a transaction can be estimated reliably, turnover from services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to finalisation of work completed.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

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 - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


PSS Properties Services Limited (Registered number: 05459103)

Notes to the Financial Statements - continued
for the Year Ended 29 February 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 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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 31,893 65,615 6,777 104,285
Additions 1,730 - - 1,730
At 29 February 2024 33,623 65,615 6,777 106,015
DEPRECIATION
At 1 March 2023 23,261 47,157 4,826 75,244
Charge for year 2,591 8,203 1,812 12,606
At 29 February 2024 25,852 55,360 6,638 87,850
NET BOOK VALUE
At 29 February 2024 7,771 10,255 139 18,165
At 28 February 2023 8,632 18,458 1,951 29,041

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 4,885,595
Additions 102,100
Disposals (159,755 )
Revaluations (190,245 )
At 29 February 2024 4,637,695
NET BOOK VALUE
At 29 February 2024 4,637,695
At 28 February 2023 4,885,595

PSS Properties Services Limited (Registered number: 05459103)

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

5. INVESTMENT PROPERTY - continued

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2023 1,916,907
Valuation in 2024 (190,245 )
Cost 2,911,033
4,637,695

Investment property was valued on an open market value basis on 28 February 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 271,290 70,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 18,259
Taxation and social security 72,706 12,651
Other creditors 2,901,028 2,884,919
2,983,734 2,915,829

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 16,666 147,491

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by instalment - 101,271

9. RESERVES
Fair
value
reserve
£   
At 1 March 2023 1,533,526
Revaluation in year (238,529 )

At 29 February 2024 1,294,997