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REGISTERED NUMBER: 07084653 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

PS LETTINGS LIMITED

PS LETTINGS LIMITED (REGISTERED NUMBER: 07084653)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PS LETTINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: K Ellerker
P A Sullivan
J Sullivan





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 07084653 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

PS LETTINGS LIMITED (REGISTERED NUMBER: 07084653)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 130,306 154,227
Tangible assets 5 42,317 43,247
Investments 6 150,719 150,719
Investment property 7 291,963 291,963
615,305 640,156

CURRENT ASSETS
Debtors 8 181,814 35,375
Cash at bank 385,346 281,401
567,160 316,776
CREDITORS
Amounts falling due within one year 9 714,330 710,998
NET CURRENT LIABILITIES (147,170 ) (394,222 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

468,135

245,934

CREDITORS
Amounts falling due after more than one
year

10

314,959

33,515
NET ASSETS 153,176 212,419

CAPITAL AND RESERVES
Called up and paid share capital 200 200
Retained earnings 152,976 212,219
153,176 212,419

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

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

PS LETTINGS LIMITED (REGISTERED NUMBER: 07084653)

BALANCE SHEET - continued
30 NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





P A Sullivan - Director


PS LETTINGS LIMITED (REGISTERED NUMBER: 07084653)

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


1. STATUTORY INFORMATION

Ps Lettings 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. 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.

Preparation of consolidated financial statements
The financial statements contain information about Ps Lettings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses, is 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 - 10% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

PS LETTINGS LIMITED (REGISTERED NUMBER: 07084653)

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


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 13 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 239,207
AMORTISATION
At 1 December 2023 84,980
Amortisation for year 23,921
At 30 November 2024 108,901
NET BOOK VALUE
At 30 November 2024 130,306
At 30 November 2023 154,227

PS LETTINGS LIMITED (REGISTERED NUMBER: 07084653)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2023 - 812 48,038 9,408 58,258
Additions 3,920 - 5,980 - 9,900
At 30 November 2024 3,920 812 54,018 9,408 68,158
DEPRECIATION
At 1 December 2023 - 292 8,321 6,398 15,011
Charge for year - 59 10,169 602 10,830
At 30 November 2024 - 351 18,490 7,000 25,841
NET BOOK VALUE
At 30 November 2024 3,920 461 35,528 2,408 42,317
At 30 November 2023 - 520 39,717 3,010 43,247

6. FIXED ASSET INVESTMENTS
Shares in
group
under-
takings
£   
COST
At 1 December 2023
and 30 November 2024 150,719
NET BOOK VALUE
At 30 November 2024 150,719
At 30 November 2023 150,719

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 291,963
NET BOOK VALUE
At 30 November 2024 291,963
At 30 November 2023 291,963

PS LETTINGS LIMITED (REGISTERED NUMBER: 07084653)

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


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 166,982 35,375
Tax 10,687 -
Prepayments and accrued income 4,145 -
181,814 35,375

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 72,744 184,701
Other loans 60,720 -
Hire purchase contracts 5,569 5,183
Trade creditors 10,379 16,290
Amounts owed to group undertakings 334,844 246,941
Tax - 10,687
VAT 39,099 45,862
Other creditors 5,535 72,389
Directors' current accounts 183,660 127,320
Accrued expenses 1,780 1,625
714,330 710,998

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,270 15,537
Other loans - 1-2 years 136,881 -
Other loans - 2-5 years 160,399 -
Hire purchase contracts 12,409 17,978
314,959 33,515

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 15,537 200,238

The Company has fixed and floating charges over its assets.