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Pysa Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 November 2024

Registration number: 07646198

 

Pysa Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Pysa Limited

Balance Sheet

30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,191

3,677

Other financial assets

5

10,000

10,000

 

13,191

13,677

Current assets

 

Debtors

6

81,625

81,268

Cash at bank and in hand

 

12,400

74,693

 

94,025

155,961

Creditors: Amounts falling due within one year

7

(82,777)

(107,519)

Net current assets

 

11,248

48,442

Total assets less current liabilities

 

24,439

62,119

Creditors: Amounts falling due after more than one year

7

(10,033)

(20,161)

Net assets

 

14,406

41,958

Capital and reserves

 

Called up share capital

9

135

135

Share premium reserve

507,265

507,265

Profit and loss account

(492,994)

(465,442)

Shareholders' funds

 

14,406

41,958

 

Pysa Limited

Balance Sheet

30 November 2024

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 August 2025 and signed on its behalf by:
 

.........................................
Mr R O Vaughton
Director

Company Registration Number: 07646198

 

Pysa Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA

These financial statements were authorised for issue by the Board on 29 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The functional and presentational currency of the company is sterling.

Going concern

In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when services are provided.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

 

Pysa Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2024

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Intangible assets

Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its estimated useful life.

Development costs

Development costs are capitalised where they meet the criteria for recognition in FRS102.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 10 years

Development costs

Over 5 years

 

Pysa Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Contingent consideration;
• Short term other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic except contingent consideration.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Basic financial instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Contingent consideration is initially measured at the amount estimated to be received and this estimate is adjusted at each susbsequent balance sheet date.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 3).

 

Pysa Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2024

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 1 December 2023

21,790

21,790

Additions

729

729

Disposals

(1,000)

(1,000)

At 30 November 2024

21,519

21,519

Depreciation

At 1 December 2023

18,113

18,113

Charge for the year

1,068

1,068

Eliminated on disposal

(853)

(853)

At 30 November 2024

18,328

18,328

Carrying amount

At 30 November 2024

3,191

3,191

At 30 November 2023

3,677

3,677

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 December 2023

10,000

10,000

At 30 November 2024

10,000

10,000

Impairment

Carrying amount

At 30 November 2024

10,000

10,000

 

Pysa Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2024

6

Debtors

2024
£

2023
£

Trade debtors

4,625

1,308

Other debtors

77,000

79,960

81,625

81,268

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,000

10,119

Taxation and social security

 

3,652

341

Director's current account

 

1,142

1,203

Other creditors

 

64,823

93,255

Accruals and deferred income

 

3,160

2,601

 

82,777

107,519

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,033

20,161

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,119

 

Pysa Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A Ordinary shares of £0.00001 each

12,907,946

129

12,907,946

129

B Investment shares of £0.00001 each

614,969

6

614,969

6

 

13,522,915

135

13,522,915

135

10

Related party transactions

Summary of transactions with all entities with joint control or significant interest

VR Consultants Limited (a company controlled by a director, and his wife).
 The company has made loans to and received loans from VR Consultants Limited. At the balance sheet date the amount due to VR Consultants Limited was £32,145 (2023: £47,856).
 

11

Disposal of operations

In October 2023, the company disposed of certain of its operations.