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REGISTERED NUMBER: 06664382 (England and Wales)















PLS Financial Services Limited

Unaudited Financial Statements

For The Year Ended

31st October 2024






PLS Financial Services Limited (Registered number: 06664382)

Contents of the Financial Statements
For The Year Ended 31st October 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


PLS Financial Services Limited

Company Information
For The Year Ended 31st October 2024







DIRECTOR: S G Palmer





SECRETARY: S G Palmer





REGISTERED OFFICE: 8 Hopper Way
Diss Business Park
Diss
Norfolk
IP22 4GT





REGISTERED NUMBER: 06664382 (England and Wales)

PLS Financial Services Limited (Registered number: 06664382)

Balance Sheet
31st October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 65,658 73,458
Tangible assets 6 1,629 2,124
67,287 75,582

CURRENT ASSETS
Debtors 7 615 615
Cash at bank 167,785 150,960
168,400 151,575
CREDITORS
Amounts falling due within one year 8 94,544 84,679
NET CURRENT ASSETS 73,856 66,896
TOTAL ASSETS LESS CURRENT LIABILITIES 141,143 142,478

PROVISIONS FOR LIABILITIES 407 531
NET ASSETS 140,736 141,947

CAPITAL AND RESERVES
Called up share capital 9 5,251 5,251
Capital redemption reserve 4,751 4,751
Retained earnings 130,734 131,945
SHAREHOLDERS' FUNDS 140,736 141,947

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

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 27th March 2025 and were signed by:





S G Palmer - Director


PLS Financial Services Limited (Registered number: 06664382)

Notes to the Financial Statements
For The Year Ended 31st October 2024


1. STATUTORY INFORMATION

PLS Financial Services Limited is a private company, limited by shares , registered in England and Wales. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents commission received in the period.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Computer equipment - 33% on 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 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

PLS Financial Services Limited (Registered number: 06664382)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2024


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st November 2023
and 31st October 2024 112,000
AMORTISATION
At 1st November 2023 38,542
Charge for year 7,800
At 31st October 2024 46,342
NET BOOK VALUE
At 31st October 2024 65,658
At 31st October 2023 73,458

6. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st November 2023 4,484 11,403 15,887
Additions - 79 79
At 31st October 2024 4,484 11,482 15,966
DEPRECIATION
At 1st November 2023 2,943 10,820 13,763
Charge for year 231 343 574
At 31st October 2024 3,174 11,163 14,337
NET BOOK VALUE
At 31st October 2024 1,310 319 1,629
At 31st October 2023 1,541 583 2,124

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 615 615

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 16,674 23,443
Other creditors 77,870 61,236
94,544 84,679

PLS Financial Services Limited (Registered number: 06664382)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,041 Ordinary A £1 249 249
5,000 Ordinary B £1 5,000 3,750
2 Ordinary C £1 2 2
5,251 4,001