BrightAccountsProduction v1.0.0 v1.0.0 2023-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of letting of own or leased real estate. 12 June 2025 0 0 NI654509 2024-07-31 NI654509 2023-07-31 NI654509 2022-07-31 NI654509 2023-08-01 2024-07-31 NI654509 2022-08-01 2023-07-31 NI654509 uk-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI654509 uk-curr:PoundSterling 2023-08-01 2024-07-31 NI654509 uk-bus:AbridgedAccounts 2023-08-01 2024-07-31 NI654509 uk-core:ShareCapital 2024-07-31 NI654509 uk-core:ShareCapital 2023-07-31 NI654509 uk-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI654509 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI654509 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-07-31 NI654509 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI654509 uk-bus:FRS102 2023-08-01 2024-07-31 NI654509 2023-08-01 2024-07-31 NI654509 uk-bus:Director1 2023-08-01 2024-07-31 NI654509 uk-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
PSFH Properties Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 July 2024



PSFH Properties Ltd
Company Registration Number: NI654509
ABRIDGED BALANCE SHEET
as at 31 July 2024

2024 2023
Notes £ £
 
Fixed Assets
Investment properties 4 340,468 340,468
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Current Assets
Debtors - 5,065
Cash and cash equivalents 3,963 1,861
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3,963 6,926
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Creditors: amounts falling due within one year (246,635) (252,711)
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Net Current Liabilities (242,672) (245,785)
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Total Assets less Current Liabilities 97,796 94,683
 
Creditors:
amounts falling due after more than one year (77,454) (80,029)
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Net Assets 20,342 14,654
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 20,242 14,554
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Equity attributable to owners of the company 20,342 14,654
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges her responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 12 June 2025
           
           
________________________________          
Miss Patricia Heaney          
Director          
           



PSFH Properties Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 July 2024

   
1. General Information
 
PSFH Properties Ltd is a private company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI654509. The registered office of the company is 15 Temple Hill Road, Newry, Co. Down, BT34 2LS, Northern Ireland which is also the principal place of business of the company.

The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the business.

The financial statements represent the individual entity for the 12 month period ended 31 July 2024.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 July 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Abridged Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Abridged Profit and Loss Account.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The company did not engage any employees in this, or the comparative period.
     
4. Investment Properties
  Investment
  properties
 
  £
Fair value
 
At 31 July 2024 340,468
  ─────────
 
The properties were valued by an independant third party, during the year ended 31 July 2022. The director is of the opinion that the values stated in the financial statements have not changed in the financial year ended 31 July 2024 based on the value of comparable properties in the area.
       
5. Secured creditors
 
At the balance sheet date the company has secured creditors totalling £83,063 (2023: £85,639).

The charge is by way of a fixed charge over company assets, and includes a negative pledge.
       
6. Financial commitment and guarantees
 
A company asset has been pledged as security for director's borrowings, at the balance sheet date these borrowings totalled £190,164 (2023: £193,324).