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2020-07-01
Sage Accounts Production 21.0 - FRS102_2021
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2021-06-30
04513936
2021-06-30
04513936
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2020-06-30
04513936
2020-06-30
04513936
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2020-07-01
2021-06-30
04513936
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2021-06-30
04513936
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04513936
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04513936
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2020-06-30
04513936
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1
2020-07-01
2021-06-30
Company registration number:
04513936
P S Analytical Research Limited
Unaudited filleted financial statements
30 June 2021
P S Analytical Research Limited
Contents
Statement of financial position
Notes to the financial statements
P S Analytical Research Limited
Statement of financial position
30 June 2021
|
|
|
2021 |
|
|
|
2020 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
|
Investments |
|
5 |
65,606 |
|
|
|
606 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
65,606 |
|
|
|
606 |
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Cash at bank and in hand |
|
|
197,971 |
|
|
|
2 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
197,971 |
|
|
|
2 |
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
196,216) |
|
|
|
(
10,873) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
Net current assets/(liabilities) |
|
|
|
|
1,755 |
|
|
|
(
10,871) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Total assets less current liabilities |
|
|
|
|
67,361 |
|
|
|
(
10,265) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Net assets/(liabilities) |
|
|
|
|
67,361 |
|
|
|
(
10,265) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
|
Called up share capital |
|
7 |
|
|
65,000 |
|
|
|
2 |
|
Profit and loss account |
|
|
|
|
2,361 |
|
|
|
(
10,267) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Shareholders funds/(deficit) |
|
|
|
|
67,361 |
|
|
|
(
10,265) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 30 June 2021 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
19 May 2022
, and are signed on behalf of the board by:
Paul M Stockwell
Director
Company registration number:
04513936
P S Analytical Research Limited
Notes to the financial statements
Year ended 30 June 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Arthur House, Crayfield Industrial Estate, Main Road, St Paul's Cray, Orpington, Kent, BR5 3HP.
The principal activity of the company is that of holding company
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'(March 2018), and the Companies Act 2006.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with their responsibilities as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.The directors have reviewed the impact on the company following the UK leaving the EU (Brexit) and the COVID-19 outbreak and consider that these events have not materially affected the company. The directors consider the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets
.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2020:
2
).
5.
Investments
|
|
Shares in group undertakings and participating interests |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 July 2020 |
606 |
606 |
|
|
|
|
|
Additions |
65,000 |
65,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 June 2021 |
65,606 |
65,606 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 July 2020 and 30 June 2021 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 30 June 2021 |
65,606 |
65,606 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 June 2020 |
606 |
606 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2021 |
2020 |
|
|
|
£ |
£ |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
185,000 |
- |
|
Other creditors |
|
11,216 |
10,873 |
|
|
|
_______ |
_______ |
|
|
|
196,216 |
10,873 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Called up share capital
Issued, called up and fully paid
|
|
|
2021 |
|
|
|
2020 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares shares of £ - each (2020: £
1.00 ) |
|
- |
|
- |
|
2 |
|
2 |
|
Ordinary A shares shares of £
1.00 each |
|
32,500 |
|
32,500 |
|
- |
|
- |
|
Ordinary B shares shares of £
1.00 each |
|
32,500 |
|
32,500 |
|
- |
|
- |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
65,000 |
|
65,000 |
|
2 |
|
2 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
During the year a resolution was passed to establish two categories of ordinary shares - A and B shares. The existing 2 shares in the company were re-designated as one Ordinary A and one Ordinary B share. Subsequent to this, further 32,499 shares were issued to the A and B shareholders respectively and treated as fully paid in exchange for their shares in PS Analytical Limited
