Registration number: NI073214

PSQ PI Ltd

(Registration number: NI073214)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	55,341	-
Current assets
Debtors	5	637,387	107,126
Investments	6	83,650	25,650
Cash at bank and in hand		41,881	70,816
		762,918	203,592
Creditors: Amounts falling due within one year	7	(817,457)	(202,457)
Net current (liabilities)/assets		(54,539)	1,135
Net assets		802	1,135
Capital and reserves
Called up share capital	8	18	18
Retained earnings		784	1,117
Shareholders' funds		802	1,135

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 February 2025
 

......................................... Mr Terrance Moore Director

PSQ PI Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 44 Cranagh Road, Coleraine, Co Londonderry, BT51 3NN.

These financial statements were authorised for issue by the director on 28 February 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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 sales/value added tax, returns, rebates and discounts.

he company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The current income 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.

PSQ PI Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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
Buildings	4% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

PSQ PI Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
Additions	55,341	55,341
At 31 December 2024	55,341	55,341
Depreciation
Carrying amount
At 31 December 2024	55,341	55,341

Included within the net book value of land and buildings above is £55,341 (2023 - £Nil) in respect of freehold land and buildings.
 

5

Debtors

Current	2024 £	2023 £
Prepayments	-	3,600
Other debtors	637,387	103,526
	637,387	107,126

6	Current asset investments

	2024 £	2023 £
Other investments	83,650	25,650

PSQ PI Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Accruals and deferred income	2,457	2,457
Other creditors	815,000	200,000
	817,457	202,457

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	14	14	14	14
Ordinary A of £1 each	4	4	4	4
	18	18	18	18

9	Related party transactions

The following balance was owed from the director at the year end:

	2024  £	2023  £
Directors current account	225,000	-