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PSL London Limited

Registered Number
07328378
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

PSL London Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Director | Ian Richard Miller

Registered Address | 42 High Street, Wanstead
| London
| E11 2RJ

Registered Number | 07328378 (England and Wales)

PSL London Limited
Balance Sheet as at
31 December 2024

| Notes | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Intangible assets | 3 |  |  | 10,329 |  |  |  | 12,179
Tangible assets | 4 |  |  | 1,093 |  |  |  | -
|  |  |  | 11,422 |  |  |  | 12,179
Current assets |  |  |  |  |  |  |  |
Debtors | 5 | 4,279 |  |  |  | 3,920 |  |
Cash at bank and on hand |  | 809 |  |  |  | 291 |  |
|  | 5,088 |  |  |  | 4,211 |  |
Creditors amounts falling due within one year | 6 | (8,857) |  |  |  | (11,635) |  |
Net current assets (liabilities) |  |  |  | (3,769) |  |  |  | (7,424)
Total assets less current liabilities |  |  |  | 7,653 |  |  |  | 4,755
Creditors amounts falling due after one year |  |  |  | (1,926) |  |  |  | (3,527)
Provisions for liabilities |  |  |  | (208) |  |  |  | -
Net assets |  |  |  | 5,519 |  |  |  | 1,228
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 200 |  |  |  | 200
Profit and loss account |  |  |  | 5,319 |  |  |  | 1,028
Shareholders' funds |  |  |  | 5,519 |  |  |  | 1,228

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
- The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 3 September 2025, and are signed on its behalf by:
Ian Richard Miller Director Registered Company No. 07328378

PSL London Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| PSL London Limited is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

| Going concern
--- | ---
| The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. In addition, the directors have confirmed that they will not recall their loans within 12 months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis

| Turnover policy
--- | ---
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

| Revenue from rendering of services
--- | ---
| Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| 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. Goodwill Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

|  | Straight line (years)
| Fixtures and fittings | 5
| Office Equipment | 3

2. | Average number of employees
--- | ---

|  | 2024 |  | 2023
| Average number of employees during the year | 1 |  | 1

3. | Intangible assets
--- | ---

|  | Total
--- | --- | ---
|  | £
| Cost or valuation
| At 01 January 24 | 37,000
| At 31 December 24 | 37,000
| Amortisation and impairment
| At 01 January 24 | 24,821
| Charge for year | 1,850
| At 31 December 24 | 26,671
| Net book value
| At 31 December 24 | 10,329
| At 31 December 23 | 12,179

4. | Tangible fixed assets
--- | ---

|  | Total
--- | --- | ---
|  | £
| Cost or valuation
| At 01 January 24 | 8,197
| Additions | 1,477
| At 31 December 24 | 9,674
| Depreciation and impairment
| At 01 January 24 | 8,197
| Charge for year | 384
| At 31 December 24 | 8,581
| Net book value
| At 31 December 24 | 1,093
| At 31 December 23 | -

5. | Debtors: amounts due within one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 4,279 |  | 3,920
| Total | 4,279 |  | 3,920

| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

6. | Creditors: amounts due within one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 5,222 |  | 3,472
| Bank borrowings and overdrafts | 1,534 |  | 1,623
| Amounts owed to related parties | 10 |  | 2,505
| Taxation and social security | 2,091 |  | 4,035
| Total | 8,857 |  | 11,635

| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.