REGISTERED NUMBER: 04128789 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PSS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

E J Paterson

SECRETARY:

Mrs K Paterson

REGISTERED OFFICE:

31 High Street

Haverhill

Suffolk

CB9 8AD

REGISTERED NUMBER:

04128789 (England and Wales)

ACCOUNTANTS:

Streets Hackett Griffey LLP

Accountants & Business Advisers

31 High Street

Haverhill

Suffolk

CB9 8AD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

64,569

78,582

64,569

78,582

CURRENT ASSETS

Stocks

13,000

13,000

Debtors

6

1,172,939

987,701

Cash at bank

35,213

62,403

1,221,152

1,063,104

CREDITORS

Amounts falling due within one year

7

1,163,313

1,025,140

NET CURRENT ASSETS

57,839

37,964

TOTAL ASSETS LESS CURRENT LIABILITIES

122,408

116,546

CREDITORS

Amounts falling due after more than one year

8

(31,711

)

(49,602

)

PROVISIONS FOR LIABILITIES

(12,268

)

(6,803

)

NET ASSETS

78,429

60,141

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

78,329

60,041

SHAREHOLDERS' FUNDS

78,429

60,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 November 2025 and were signed by:

E J Paterson - Director

1.	STATUTORY INFORMATION

PSS Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is the amount derived from ordinary activities, stated after trade discounts, other sales taxes and net of VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, has been amortised in full over its estimated useful life of 10 years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery

-

25% on reducing balance

Fixtures & office equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

34,000

AMORTISATION

At 1 January 2024

and 31 December 2024

34,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant &

& office

Motor

machinery

equipment

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

163,525

4,913

11,495

179,933

Additions

1,375

1,132

4,180

6,687

At 31 December 2024

164,900

6,045

15,675

186,620

DEPRECIATION

At 1 January 2024

97,037

2,149

2,165

101,351

Charge for year

16,679

903

3,118

20,700

At 31 December 2024

113,716

3,052

5,283

122,051

NET BOOK VALUE

At 31 December 2024

51,184

2,993

10,392

64,569

At 31 December 2023

66,488

2,764

9,330

78,582

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,152,268

981,951

Other debtors

20,671

5,750

1,172,939

987,701

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

7,891

6,901

Trade creditors

49,475

32,142

Taxation and social security

202,982

221,640

Other creditors

892,965

754,457

1,163,313

1,025,140

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

5,834

15,834

Hire purchase contracts

25,877

33,768

31,711

49,602

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

33,768

40,669

The hire purchase creditor is secured on the assets to which they relate.

10.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £91,375 (2023: £20,000).