Registered number
00943465
PSB Holdings Limited
Filleted Accounts
31 May 2024
PSB Holdings Limited
Registered number: 00943465
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,000,000 2,000,000
Current assets
Cash at bank and in hand 496 422
Creditors: amounts falling due within one year 4 (1,205,058) (1,195,277)
Net current liabilities (1,204,562) (1,194,855)
Net assets 795,438 805,145
Capital and reserves
Called up share capital 100,000 100,000
Reserves 695,438 705,145
Shareholders' funds 795,438 805,145
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs S C Bruin-Bottomley
Director
Approved by the board on 25 May 2025
PSB Holdings Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
These accounts have been drawn up on the going concern basis, which assumes the continued support of the directors and shareholders.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental of the property and is recognised in the period to which it relates.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investments properties
Investment properties are included in the balance sheet at fair value.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 2,000,000 75,507 2,075,507
At 31 May 2024 2,000,000 75,507 2,075,507
Depreciation
At 1 June 2023 - 75,507 75,507
At 31 May 2024 - 75,507 75,507
Net book value
At 31 May 2024 2,000,000 - 2,000,000
At 31 May 2023 2,000,000 - 2,000,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 1,255,794 1,255,794
Cumulative depreciation based on historical cost - -
1,255,794 1,255,794
The property has been revalued at the year end by the directors of the company and this is considered a realistic current market value of the property at this time.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 1,205,058 1,195,277
5 Other information
PSB Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
38 Toads Acre
Longstanton
Cambridge
CB24 3DF
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