P.S.R. Management Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04333252 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

P.S.R. Management Services Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P Legge

R Legge

S J Legge

SECRETARY:

M J Harrington

REGISTERED OFFICE:

10 Dane Close

Farnborough Village

Orpington

Kent

BR6 7DS

REGISTERED NUMBER:

04333252 (England and Wales)

ACCOUNTANTS:

Sinden Thackeray Partnership

Stirling House

Sunderland Quay

Culpeper Close

Rochester

Kent

ME2 4HN

FIXED ASSETS

Tangible assets

4

40,940

45,248

CURRENT ASSETS

Debtors

5

398,790

221,879

Prepayments and accrued income

21,381

-

Cash at bank

39,838

93,608

460,009

315,487

CREDITORS

Amounts falling due within one year

6

256,266

304,724

NET CURRENT ASSETS

203,743

10,763

TOTAL ASSETS LESS CURRENT LIABILITIES

244,683

56,011

CREDITORS

Amounts falling due after more than one year

7

110,147

-

NET ASSETS

134,536

56,011

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

134,535

56,010

SHAREHOLDERS' FUNDS

134,536

56,011

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 25 September 2019 and were signed on its behalf by:

P Legge - Director

1.	STATUTORY INFORMATION

P.S.R. Management Services 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

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 statement of financial position date.

Deferred tax

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

statement of financial position 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 6 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

684,516

Additions

258

At 31 December 2018

684,774

DEPRECIATION

At 1 January 2018

639,268

Charge for year

4,566

At 31 December 2018

643,834

NET BOOK VALUE

At 31 December 2018

40,940

At 31 December 2017

45,248

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Other debtors

-

67,256

Associated companies

398,790

154,623

398,790

221,879

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

33,891

-

Social security and other taxes

16,753

26,639

VAT

77,878

55,639

Other creditors

4,707

3,508

Directors' current accounts

6,837

5,284

Accrued expenses

116,200

213,654

256,266

304,724

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans - 2-5 years

110,147

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Retained

earnings

£

At 1 January 2018

56,010

Profit for the year

78,525

At 31 December 2018

134,535

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Legge.