PSB-UK Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04006640

PSB-UK LIMITED

FILLETED FINANCIAL STATEMENTS

31 December 2024

PSB-UK LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

CONTENTS	PAGE

Statement of financial position	1

Notes to the financial statements	3

PSB-UK LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

CURRENT ASSETS

Stocks		100,275	201,282
Debtors	5	504,746	460,016
Cash at bank and in hand		56,012	–
		----------	----------
		661,033	661,298

CREDITORS: amounts falling due within one year	6	601,933		558,066
		----------		----------
NET CURRENT ASSETS			59,100		103,232
			---------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			59,100		103,232

CREDITORS: amounts falling due after more than one year
Bank loans and overdrafts	6,354	17,116
	---------	----------
NET ASSETS	52,746	86,116
	---------	----------

CAPITAL AND RESERVES

Called up share capital	7	185,000	185,000
Capital redemption reserve		327,000	327,000
Profit and loss account		( 459,254)	( 425,884)
		----------	----------
SHAREHOLDER FUNDS		52,746	86,116
		----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

PSB-UK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 June 2025 , and are signed on behalf of the board by:

T Barnes

Director

Company registration number: 04006640

PSB-UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Witt House, 3 Shelf Mills, Wade House Road, Shelf, Halifax, HX3 7BJ, West Yorkshire.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis . The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and judgement are made concerning long term contracts continuing over the year end. These include: the stage of completion of the contract, the purchases required to complete the contract to that stage or purchased early for the contract, assuming expenditure is evenly spread across the contract and any amounts not invoiced or invoiced in excess of that stage of completion.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 12 (2023: 11 ).

5. DEBTORS

	2024	2023
	£	£
Trade debtors	366,641	249,432
Prepayments and accrued income	138,105	185,663
Other debtors	–	24,921
	----------	----------
	504,746	460,016
	----------	----------

6. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,165	155,814
Trade creditors	99,238	79,791
Amounts owed to group undertakings	368,948	218,159
Accruals and deferred income	103,341	97,456
Corporation tax	278	278
Social security and other taxes	8,455	–
Other creditors	7,021	4,770
Other creditors	4,487	1,798
	----------	----------
	601,933	558,066
	----------	----------

7. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	185,000	185,000	185,000	185,000
	----------	----------	----------	----------

8. OPERATING LEASES

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	5,611	5,611
Later than 1 year and not later than 5 years	1,403	7,014
	-------	---------
	7,014	12,625
	-------	---------

9. CONTINGENCIES

Under a group registration scheme, the company has guaranteed the outstanding VAT liabilities of all group companies. At 31 December 2024, the total liability across the UK group companies was £256,454 (2023: £145,933). All group companies have an unlimited unilateral guarantee for all group bank borrowings. At 31 December 2024 the maximum liability was £220,238 (2023: £364,280). This is secured by a debenture over the assets of the group. The company may be liable for fines relating to the previous non-disclosure and payment of statutory liabilities. Whilst the statutory liabilities have been disclosed and settled prior to this the period, no penalties have yet been raised. It is not considered possible to estimate the amount and timing of these.

10. SUMMARY AUDIT OPINION

The auditor's report dated 26 September 2025 was unqualified .

The senior statutory auditor was Sally Shacklock BA FCA , for and on behalf of Streets Spenser Wilson (Yorkshire) Limited .

11. RELATED PARTY TRANSACTIONS

The company is a member of a medium group, the holding company of which, Witt & Son UK Holdings Limited, prepares publicly available consolidated financial statements. Having taken advantage of the exemptions in Financial Reporting Standard 102 in respect of the disclosure of related party transactions, there were no other transactions that require disclosure under Financial Reporting Standard 102 Section 1A.

12. ULTIMATE PARENT COMPANY

The company's immediate and ultimate holding company is Witt & Son UK Holdings Limited , a company incorporated in England. This is the largest and smallest group for which accounts are drawn up and of which the company is a member, consolidated accounts are available from Companies House. The holding company's registered office is at Witt House, 3 Shelf Mills, Wade House Road, Shelf, Halifax, West Yorkshire, HX3 7BJ.