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Registered number: 01909571









PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
REGISTERED NUMBER:01909571

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
17,530
17,530

Debtors: amounts falling due within one year
 7 
15,483
4,406

Cash at bank and in hand
  
100,347
116,787

  
133,360
138,723

Creditors: amounts falling due within one year
 8 
(5,400)
(5,642)

Net current assets
  
 
 
127,960
 
 
133,081

Total assets less current liabilities
  
127,960
133,081

  

Net assets
  
127,960
133,081


Capital and reserves
  

Called up share capital 
 9 
100
100

Share premium account
 10 
2,400
2,400

Profit and loss account
 10 
125,460
130,581

  
127,960
133,081

Page 1

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
REGISTERED NUMBER:01909571
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the Board and were signed on its behalf by: 




S. F. Blinkhorn
Director

Date: 22 May 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Psychometric Research & Development Limited is a private company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

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. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as shown below.

Depreciation is provided on the following basis:

Computer equipment
-
Over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short term creditors are measured at the transaction price.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.

Page 4

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


5.


Taxation

The company has £5,121 of trade losses to carry forrward and utilise against future profits. No deferred tax asset has been recognised in respect of these losses during the year.


6.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 September 2023
13,051



At 31 August 2024

13,051



Depreciation


At 1 September 2023
13,051



At 31 August 2024

13,051



Net book value



At 31 August 2024
-



At 31 August 2023
-

Page 5

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Debtors

2024
2023
£
£


Trade debtors
1,157
-

Other debtors
12,025
2,750

Prepayments and accrued income
2,301
1,656

15,483
4,406



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
294
280

Corporation tax
25
25

Other creditors
5,081
5,337

5,400
5,642



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Reserves

Profit and loss account

The balance on the profit and loss account represents the distributable reserves of the company.

Page 6

 
PSYCHOMETRIC RESEARCH & DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

11.


Related party transactions

The Company is related by common control to Hectare Limited and Synsemetrics Limited.
During the year, license and royalty fees of £7,598 (2023: £18,960) were charged by the Company to Synsemetrics Limited.
During the year, S. F. Blinkhorn received £2,858 (2023: £5,688) in respect of royalties. As at the balance sheet date, the company owed S. F. Blinkhorn £1,723 (2023: £2,187).
As at the balance sheet date, there were balances outstanding with the following related companies:


2024
2023
£
£

Synsemetrics Limited
11,376
2,259
11,376
2,259

 
Page 7