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REGISTERED NUMBER: 10910641 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

FOR

PSK PROJECTS LIMITED

PSK PROJECTS LIMITED (REGISTERED NUMBER: 10910641)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PSK PROJECTS LIMITED

COMPANY INFORMATION
for the Year Ended 31st August 2024







DIRECTORS: Mr S A Knight
Ms J A Knight





REGISTERED OFFICE: 23 Anshaw Close
Belmont
Bolton
BL7 8BS





REGISTERED NUMBER: 10910641 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

PSK PROJECTS LIMITED (REGISTERED NUMBER: 10910641)

BALANCE SHEET
31st August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 150,000 145,000

CURRENT ASSETS
Cash at bank 6,731 4,978

CREDITORS
Amounts falling due within one year 5 (47,702 ) (140,619 )
NET CURRENT LIABILITIES (40,971 ) (135,641 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

109,029

9,359

CREDITORS
Amounts falling due after more than one
year

6

(91,575

)

-

PROVISIONS FOR LIABILITIES (4,958 ) (2,818 )
NET ASSETS 12,496 6,541

CAPITAL AND RESERVES
Called up share capital 7 100 100
Fair value reserve 8 14,873 -
Retained earnings (2,477 ) 6,441
SHAREHOLDERS' FUNDS 12,496 6,541

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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 6th January 2025 and were signed on its behalf by:



Mr S A Knight - Director


PSK PROJECTS LIMITED (REGISTERED NUMBER: 10910641)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2024


1. STATUTORY INFORMATION

PSK Projects Limited is a private company, limited by shares, registered in England and Wales, registration number 10910641. The address of the registered office and principal place of business is 23 Anshaw Close, Belmont, Bolton, BL7 8BS.

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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover principally consists of income from rental income from investment property which is recognised at the point the service is provided.

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 profit and loss account, 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.

Cash and cash equivalents
Cash and cash equivalents represent cash at bank.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they stated at cost.

3. EMPLOYEES AND DIRECTORS

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

PSK PROJECTS LIMITED (REGISTERED NUMBER: 10910641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st September 2023 145,000
Revaluations 5,000
At 31st August 2024 150,000
NET BOOK VALUE
At 31st August 2024 150,000
At 31st August 2023 145,000

Fair value at 31st August 2024 is represented by:
£   
Valuation in 2022 14,830
Valuation in 2024 5,000
Cost 130,170
150,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 130,170 130,170

The investment property was valued on an open market basis on 31st August 2024 by the director .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 134 -
Other creditors 47,568 140,619
47,702 140,619

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 91,575 -

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 91,575 -

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary 0.10 100 100

PSK PROJECTS LIMITED (REGISTERED NUMBER: 10910641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2024


7. CALLED UP SHARE CAPITAL - continued

Alotted, issued and fully paid:


Number:

Class
Nominal
Value:

2024


2023
££
499Ordinary A£0.149.9049.90
499Ordinary B£0.149.9049.90
1Ordinary non-voting C£0.10.100.1
1Ordinary non-voting D£0.10.100.1
100100

8. RESERVES
Fair
value
reserve
£   
Non-distributable reserve 14,873

At 31st August 2024 14,873