Registration number: 03681242

PSC Ltd

(Registration number: 03681242)

Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Investment property	3	510,834	1,005,834
Current assets
Debtors	4	2,231	1,420
Cash at bank and in hand		242,452	174,828
		244,683	176,248
Creditors: Amounts falling due within one year		(115,354)	(145,590)
Net current assets		129,329	30,658
Total assets less current liabilities		640,163	1,036,492
Creditors: Amounts falling due after more than one year		-	(325,994)
Net assets		640,163	710,498
Capital and reserves
Called up share capital		100	100
Revaluation reserve		128,000	128,000
Retained earnings		512,063	582,398
Shareholders' funds		640,163	710,498

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.

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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

PSC Ltd

(Registration number: 03681242)

Balance Sheet as at 31 December 2024 (continued)

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 26 September 2025 and signed on its behalf by:
 

.........................................

T Panagiotou

Director

PSC Ltd

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

1	Accounting policies

Statutory information

PSC Ltd is a private company, limited by shares, domiciled in England and Wales, company number 03681242. The registered office is at 38 Whitton Close, Bessacarr, Doncaster, DN4 7RD.

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 except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises rents receivable from tenants in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current 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 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

PSC Ltd

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

1	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

3	Investment properties

Fair Value	2024 £
At 1 January 2024	1,005,834
Disposals	(495,000)
At 31 December 2024	510,834

There has been no valuation of investment property by an independent valuer.

4

Debtors

	2024 £	2023 £
Prepayments	2,231	1,420
	2,231	1,420

PSC Ltd

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

5

Creditors

	2024 £	2023 £
Due within one year
Loans and borrowings	-	33,500
Accruals and deferred income	4,674	1,440
Other creditors	101,248	101,218
Corporation tax	9,432	9,432
	115,354	145,590

Due after one year
Loans and borrowings		-	325,994