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REGISTERED NUMBER: 08224608 (England and Wales)















PSK DESIGN LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024






PSK DESIGN LTD (REGISTERED NUMBER: 08224608)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PSK DESIGN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: P Skouta-Stone
R C Stone





REGISTERED OFFICE: Cadman House, Suite 4, 2nd Floor
2-16 Wharf Road
Sale
Cheshire
M33 2AF





REGISTERED NUMBER: 08224608 (England and Wales)





ACCOUNTANTS: DJH Bury Limited
The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN

PSK DESIGN LTD (REGISTERED NUMBER: 08224608)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 40,356 39,175
40,356 39,175

CURRENT ASSETS
Inventories 14,235 12,555
Debtors 6 456,800 245,412
Cash at bank and in hand 86,136 73,627
557,171 331,594
CREDITORS
Amounts falling due within one year 7 (435,330 ) (330,360 )
NET CURRENT ASSETS 121,841 1,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,197

40,409

CREDITORS
Amounts falling due after more than one
year

8

(6,608

)

(16,632

)

PROVISIONS FOR LIABILITIES (10,089 ) (9,794 )
NET ASSETS 145,500 13,983

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 145,400 13,883
145,500 13,983

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

PSK DESIGN LTD (REGISTERED NUMBER: 08224608)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by:





R C Stone - Director


PSK DESIGN LTD (REGISTERED NUMBER: 08224608)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

PSK Design Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08224608 and registered office address is Cadman House, Suite 4, 2nd Floor, 2-16 Wharf Road, Sale, Cheshire, England, M33 2AF.

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.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
There are currently no significant judgements and estimates applied by the directors which are considered key to the preparation of the financial statements.

Revenue
Revenue represents the aggregate of the fair value of services provided, net of VAT, rebates and discounts. Service revenue is recognised as those services are provided to customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Inventories
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Work in progress is valued at the lower of cost and net realisable value. Cost is calculated based on expenses incurred on a project, plus a proportional allocation of overheads. Net realisable value is considered to be equal to the fee quoted.

PSK DESIGN LTD (REGISTERED NUMBER: 08224608)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

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, and impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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 the income statement in the period to which they relate.

Dividends
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the
company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 19 ) .

PSK DESIGN LTD (REGISTERED NUMBER: 08224608)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 30,000
AMORTISATION
At 1 October 2023
and 30 September 2024 30,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 October 2023 88,868
Additions 9,642
At 30 September 2024 98,510
DEPRECIATION
At 1 October 2023 49,693
Charge for year 8,461
At 30 September 2024 58,154
NET BOOK VALUE
At 30 September 2024 40,356
At 30 September 2023 39,175

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 446,579 231,581
Amounts owed by participating interests 180 180
Other debtors 10,041 13,651
456,800 245,412

PSK DESIGN LTD (REGISTERED NUMBER: 08224608)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 124,908 69,886
Taxation and social security 261,406 163,181
Other creditors 39,016 87,293
435,330 330,360

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,608 16,632

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
R C Stone and P Skouta-Stone
Balance outstanding at start of year 6,449 1,845
Amounts advanced 161,130 392,104
Amounts repaid (167,987 ) (387,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (408 ) 6,449

Advances to directors were unsecured, interest free and repayable on demand. The maximum overdrawn balance in the year was £6,449, and all advances had been fully repaid by the year end date.