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PSS WORKSHOPS LIMITED

Registered Number
05938993
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

PSS WORKSHOPS LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

BOWERS, Richard John
LYNCH, David

Company Secretary

BOWERS, Richard John

Registered Address

7 Rossfield Road
Rossmore Industrial Estate
Ellesmere Port
CH65 3BS

Registered Number

05938993 (England and Wales)
PSS WORKSHOPS LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets334,65130,365
34,65130,365
Current assets
Stocks482,64979,637
Debtors327,207345,975
Cash at bank and on hand364,447281,344
774,303706,956
Creditors amounts falling due within one year5(397,119)(347,899)
Net current assets (liabilities)377,184359,057
Total assets less current liabilities411,835389,422
Provisions for liabilities6(7,253)(7,253)
Net assets404,582382,169
Capital and reserves
Called up share capital3,0003,000
Profit and loss account401,582379,169
Shareholders' funds404,582382,169
The financial statements were approved and authorised for issue by the Board of Directors on 21 October 2024, and are signed on its behalf by:
BOWERS, Richard John
Director
Registered Company No. 05938993
PSS WORKSHOPS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 sale of goods and from the rendering of services.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings25
Vehicles25
Office Equipment33
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). Costs comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in brining the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit & loss. Reversals of impairment losses are also recognised in the profit & loss.
2.Average number of employees

20242023
Average number of employees during the year1413
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 August 238,27976,20546,6486,13430,754168,020
Additions-6,6506,25044232113,663
At 31 July 248,27982,85552,8986,57631,075181,683
Depreciation and impairment
At 01 August 238,27964,34431,0765,67728,279137,655
Charge for year-2,7765,4542259229,377
At 31 July 248,27967,12036,5305,90229,201147,032
Net book value
At 31 July 24-15,73516,3686741,87434,651
At 31 July 23-11,86115,5724572,47530,365
4.Stocks

2024

2023

££
Work in progress30,89235,221
Finished goods51,75744,416
Total82,64979,637
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables148,44269,271
Taxation and social security112,938143,240
Other creditors128,589128,589
Accrued liabilities and deferred income7,1506,799
Total397,119347,899
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,2537,253
Total7,2537,253