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REGISTERED NUMBER: SC379274 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

PSYCHOLOGISTS' PROTECTION SERVICES
LIMITED

PSYCHOLOGISTS' PROTECTION SERVICES
LIMITED (REGISTERED NUMBER: SC379274)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PSYCHOLOGISTS' PROTECTION SERVICES
LIMITED

COMPANY INFORMATION
for the year ended 31 October 2024







DIRECTORS: Mr E M Murray
Mrs R A Murray





SECRETARY: Mr E M Murray





REGISTERED OFFICE: Lime Tree House
North Castle Street
Alloa
Clackmannanshire
FK10 1EX





REGISTERED NUMBER: SC379274 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

PSYCHOLOGISTS' PROTECTION SERVICES
LIMITED (REGISTERED NUMBER: SC379274)

BALANCE SHEET
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 641 1,341
Tangible assets 5 3,976 4,816
4,617 6,157

CURRENT ASSETS
Debtors 6 460 460
Cash at bank and in hand 71,740 74,160
72,200 74,620
CREDITORS
Amounts falling due within one year 7 72,037 68,632
NET CURRENT ASSETS 163 5,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,780

12,145

PROVISIONS FOR LIABILITIES 9 755 868
NET ASSETS 4,025 11,277

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,925 11,177
SHAREHOLDERS' FUNDS 4,025 11,277

PSYCHOLOGISTS' PROTECTION SERVICES
LIMITED (REGISTERED NUMBER: SC379274)

BALANCE SHEET - continued
31 October 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





Mr E M Murray - Director


PSYCHOLOGISTS' PROTECTION SERVICES
LIMITED (REGISTERED NUMBER: SC379274)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2024

1. STATUTORY INFORMATION

Psychologists' Protection Services Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 in relation to administration and insurance management fees.

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.

The website is being amortised evenly over its estimated useful life of three years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 25% per annum on cost
Fixtures and fittings - 25% per annum on cost
Computer equipment - 20% per annum on cost

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

PSYCHOLOGISTS' PROTECTION SERVICES
LIMITED (REGISTERED NUMBER: SC379274)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PSYCHOLOGISTS' PROTECTION SERVICES
LIMITED (REGISTERED NUMBER: SC379274)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 November 2023
and 31 October 2024 2,100
AMORTISATION
At 1 November 2023 759
Amortisation for year 700
At 31 October 2024 1,459
NET BOOK VALUE
At 31 October 2024 641
At 31 October 2023 1,341

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023 1,740 1,712 11,639 15,091
Additions - - 695 695
At 31 October 2024 1,740 1,712 12,334 15,786
DEPRECIATION
At 1 November 2023 1,493 1,098 7,684 10,275
Charge for year 247 428 860 1,535
At 31 October 2024 1,740 1,526 8,544 11,810
NET BOOK VALUE
At 31 October 2024 - 186 3,790 3,976
At 31 October 2023 247 614 3,955 4,816

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 460 460

PSYCHOLOGISTS' PROTECTION SERVICES
LIMITED (REGISTERED NUMBER: SC379274)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,611 2,411
Taxation and social security 16,453 18,092
Other creditors 52,973 48,129
72,037 68,632

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 2,770 2,770

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 755 868

Deferred
tax
£   
Balance at 1 November 2023 868
Credit to Statement of Income and Retained Earnings during year (113 )
Balance at 31 October 2024 755

10. RELATED PARTY DISCLOSURES

Included in "Other creditors" is a balance of £16,421 (2023 : £20,222) due to the directors. This loan is interest free and no fixed terms of repayment have been agreed.