PSM FLOORING LIMITED

Company Registration Number:
11716641 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

PSM FLOORING LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

PSM FLOORING LIMITED

Profit And Loss Account

for the Period Ended 31 December 2024

2024 2023


£

£
Turnover: 55,850 47,750
Cost of sales: ( 41,355 ) ( 38,885 )
Gross profit(or loss): 14,495 8,865
Distribution costs: ( 3,448 ) ( 1,900 )
Administrative expenses: ( 8,490 ) ( 6,080 )
Other operating income: 0 0
Operating profit(or loss): 2,557 885
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 2,557 885
Tax: ( 486 ) ( 168 )
Profit(or loss) for the financial year: 2,071 717

PSM FLOORING LIMITED

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 7,000 5,500
Investments:   0 0
Total fixed assets: 7,000 5,500
Current assets
Stocks:   0 0
Debtors: 4 2,120 1,710
Cash at bank and in hand: 1,770 1,290
Investments:   0 0
Total current assets: 3,890 3,000
Prepayments and accrued income: 185 0
Creditors: amounts falling due within one year: 5 ( 1,955 ) ( 800 )
Net current assets (liabilities): 2,120 2,200
Total assets less current liabilities: 9,120 7,700
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 9,120 7,700
Capital and reserves
Called up share capital: 7,600 6,900
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: 1,520 800
Total Shareholders' funds: 9,120 7,700

The notes form part of these financial statements

PSM FLOORING LIMITED

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 7 January 2025
and signed on behalf of the board by:

Name: Panganai S Mutizha
Status: Director

The notes form part of these financial statements

PSM FLOORING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Fixed assets are to be depreciated on a 20% straight line basis over a 5 year useful life with a zero scrap value.

PSM FLOORING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

PSM FLOORING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 0 5,000 0 500 0 5,500
Additions 0 1,600 0 1,000 0 2,600
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 December 2024 0 6,600 0 1,500 0 8,100
Depreciation
At 1 January 2024 0 0 0 0 0 0
Charge for year 0 1,000 0 100 0 1,100
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 31 December 2024 0 1,000 0 100 0 1,100
Net book value
At 31 December 2024 0 5,600 0 1,400 0 7,000
At 31 December 2023 0 5,000 0 500 0 5,500

PSM FLOORING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Debtors

2024 2023
£ £
Trade debtors 2,120 1,710
Prepayments and accrued income 0 0
Other debtors 0 0
Total 2,120 1,710
Debtors due after more than one year: 0 0

PSM FLOORING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 1,385 678
Taxation and social security 0 0
Accruals and deferred income 0 0
Other creditors 570 122
Total 1,955 800