PS Ventures Limited - Period Ending 2022-09-30

PS VENTURES LIMITED - Company Information

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Registration number: 06693058

PS Ventures Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2022

PS Ventures Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 3

PS Ventures Limited

(Registration number: 06693058)
Balance Sheet as at 30 September 2022

	Note	2022 £	2021 £
Current assets
Debtors	4	70	94
Cash at bank and in hand		12	53
		82	147
Creditors: Amounts falling due within one year	5	(13,756)	(13,019)
Net liabilities		(13,674)	(12,872)
Capital and reserves
Called up share capital		100	100
Retained earnings		(13,774)	(12,972)
Shareholders' deficit		(13,674)	(12,872)

For the financial year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 June 2023

.........................................
Mr P Simpson
Director

PS Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of services for web development. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for web development services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

PS Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

Debtors

Current	2022 £	2021 £
Trade debtors	70	94

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Other creditors	13,756	13,019

6	Related party transactions

Summary of transactions with other related parties

P Simpson (director) had a loan account with the company during the year. At the balance sheet date the amount due to P Simpson was £10,436 (2021: £9,729)