PS Applications Limited - Accounts to registrar (filleted) - small 23.1.2

PS Applications Limited - Accounts to registrar (filleted) - small 23.1.2

THE FIRE STOP GROUP LIMITED - Company Information

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REGISTERED NUMBER: 03548777 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31st July 2022

for

PS APPLICATIONS LIMITED
PS APPLICATIONS LIMITED (REGISTERED NUMBER: 03548777)






Contents of the Financial Statements
for the year ended 31st July 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

PS APPLICATIONS LIMITED

Company Information
for the year ended 31st July 2022







DIRECTOR: P E Shipway





REGISTERED OFFICE: Unit 4
The Metro Centre
Bridge End Road
Orpington
Kent
BR5 2BE





REGISTERED NUMBER: 03548777 (England and Wales)





ACCOUNTANTS: Simpson Wreford & Partners
Chartered Accountants
Suffolk House
George Street
Croydon
Surrey
CR0 0YN
Page 1
PS APPLICATIONS LIMITED (REGISTERED NUMBER: 03548777)

Statement of Financial Position
31st July 2022

31.7.22 31.7.21
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 8,504 11,338
Investments 5 100 100
8,604 11,438

CURRENT ASSETS
Inventories 14,000 13,200
Debtors 6 246,843 268,165
Cash at bank 70,415 -
331,258 281,365
CREDITORS
Amounts falling due within one year 7 151,086 90,010
NET CURRENT ASSETS 180,172 191,355
TOTAL ASSETS LESS CURRENT LIABILITIES 188,776 202,793

PROVISIONS FOR LIABILITIES 1,616 2,154
NET ASSETS 187,160 200,639

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 187,060 200,539
SHAREHOLDERS' FUNDS 187,160 200,639

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2022 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 notes form part of these financial statements

Page 2 continued...
PS APPLICATIONS LIMITED (REGISTERED NUMBER: 03548777)

Statement of Financial Position - continued
31st July 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11th April 2023 and were signed by:





P E Shipway - Director


The notes form part of these financial statements

Page 3
PS APPLICATIONS LIMITED (REGISTERED NUMBER: 03548777)

Notes to the Financial Statements
for the year ended 31st July 2022

1. STATUTORY INFORMATION

PS Applications 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
Revenue 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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Inventories 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 Statement of Income and Retained Earnings, 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.

Page 4 continued...
PS APPLICATIONS LIMITED (REGISTERED NUMBER: 03548777)

Notes to the Financial Statements - continued
for the year ended 31st July 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st August 2021
and 31st July 2022 18,873 28,528 47,401
DEPRECIATION
At 1st August 2021 12,612 23,451 36,063
Charge for year 1,565 1,269 2,834
At 31st July 2022 14,177 24,720 38,897
NET BOOK VALUE
At 31st July 2022 4,696 3,808 8,504
At 31st July 2021 6,261 5,077 11,338

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st August 2021
and 31st July 2022 100
NET BOOK VALUE
At 31st July 2022 100
At 31st July 2021 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.22 31.7.21
£    £   
Trade debtors 64,786 110,677
Amounts owed by group undertakings - 13,000
VAT 10,103 17,690
Prepayments and accrued income 171,954 126,798
246,843 268,165

Page 5 continued...
PS APPLICATIONS LIMITED (REGISTERED NUMBER: 03548777)

Notes to the Financial Statements - continued
for the year ended 31st July 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.22 31.7.21
£    £   
Bank loans and overdrafts - 4,769
Trade creditors 49,295 47,397
Amounts owed to group undertakings 5,000 -
Tax 13,148 34,208
Other creditors 80,007 -
Directors' current accounts 136 136
Accruals and deferred income 3,500 3,500
151,086 90,010

Page 6
Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
PS Applications Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PS Applications Limited for the year ended 31st July 2022 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of PS Applications Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PS Applications Limited and state those matters that we have agreed to state to the director of PS Applications Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PS Applications Limited and its director for our work or for this report.

It is your duty to ensure that PS Applications Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PS Applications Limited. You consider that PS Applications Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PS Applications Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Simpson Wreford & Partners
Chartered Accountants
Suffolk House
George Street
Croydon
Surrey
CR0 0YN


Date: .............................................

This page does not form part of the statutory financial statements

Page 7