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REGISTERED NUMBER: 02600288 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

PSU DESIGNS LIMITED

PSU DESIGNS LIMITED (REGISTERED NUMBER: 02600288)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


PSU DESIGNS LIMITED (REGISTERED NUMBER: 02600288)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 626,880 637,963

CURRENT ASSETS
Stocks 1,552,280 1,603,626
Debtors 5 774,777 637,214
Cash at bank and in hand 77,472 46,654
2,404,529 2,287,494
CREDITORS
Amounts falling due within one year 6 1,738,022 1,642,781
NET CURRENT ASSETS 666,507 644,713
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,293,387

1,282,676

CREDITORS
Amounts falling due after more than one year 7 420,906 465,820
NET ASSETS 872,481 816,856

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 98,120 98,120
Retained earnings 774,261 718,636
872,481 816,856

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PSU DESIGNS LIMITED (REGISTERED NUMBER: 02600288)

Balance Sheet - continued
31 August 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 director and authorised for issue on 27 May 2025 and were signed by:





Mr N D Arkell - Director


PSU DESIGNS LIMITED (REGISTERED NUMBER: 02600288)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Psu Designs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02600288

Registered office: 6 & 7 Bloomfield Park
Bloomfield Road
Tipton
West Midlands
DY4 9AP

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, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 20% on cost

Improvements to property are depreciated at 2% on cost per year,

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 balance sheet date.


PSU DESIGNS LIMITED (REGISTERED NUMBER: 02600288)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of
inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest
elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the
remaining balance of the liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2023 - 58 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2023 75,352 1,164,125 215,621
Additions - - -
At 31 August 2024 75,352 1,164,125 215,621
DEPRECIATION
At 1 September 2023 24,166 606,423 195,670
Charge for year 1,581 31,174 9,440
At 31 August 2024 25,747 637,597 205,110
NET BOOK VALUE
At 31 August 2024 49,605 526,528 10,511
At 31 August 2023 51,186 557,702 19,951

PSU DESIGNS LIMITED (REGISTERED NUMBER: 02600288)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 7,552 83,186 1,545,836
Additions 37,371 - 37,371
At 31 August 2024 44,923 83,186 1,583,207
DEPRECIATION
At 1 September 2023 7,552 74,061 907,872
Charge for year 2,491 3,769 48,455
At 31 August 2024 10,043 77,830 956,327
NET BOOK VALUE
At 31 August 2024 34,880 5,356 626,880
At 31 August 2023 - 9,125 637,964

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 719,162 566,366
Other debtors 55,615 70,848
774,777 637,214

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 57,772 59,879
Trade creditors 618,133 509,662
Taxation and social security 66,096 78,447
Other creditors 996,021 994,793
1,738,022 1,642,781

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 110,094 128,272
Other creditors 310,812 337,548
420,906 465,820

PSU DESIGNS LIMITED (REGISTERED NUMBER: 02600288)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Hire purchase contracts 167,866 188,151
Invoice discounting loan 562,768 519,407
730,634 707,558

The hire purchase liability are secured over the assets to which they relate. The invoice discounting loan is secured by way of a charge over the related trade debtors.