PSAPP LTD - Accounts

PSAPP LTD - Accounts

PSAPP LTD - Company Information

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Registered Number: 07351196
England and Wales

 

 

 

PSAPP LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

PSAPP LTD
Contents Page
For the year ended 31 March 2023
Directors Mr C Clasmann
Ms G M Pike
Registered Number 07351196
Registered Office 7 Bell Yard
London
England
WC2A2JR
Accountants Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 March 2023
Principal activities
Principal activity of the company during the financial year was of other business support service activities.
Directors
The directors who served the company throughout the year were as follows:
Mr C Clasmann
Ms G M Pike
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr C Clasmann
Director

Date approved: 11 August 2023
2
Accountants report
You consider that the company is exempt from an audit for the year ended 31 March 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
31 March 2023



....................................................
Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
11 August 2023
3
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 9,748    8,765 
9,748    8,765 
Current assets      
Debtors 4 247    0 
Cash at bank and in hand 36,251    44,162 
36,498    44,162 
Creditors: amount falling due within one year 5 (30,328)   (34,387)
Net current assets 6,170    9,775 
 
Total assets less current liabilities 15,918    18,540 
Provisions for liabilities 6 (1,852)   (1,665)
Net assets 14,066    16,875 
 

Capital and reserves 		     
Called up share capital 7 2    2 
Profit and loss account 14,064    16,873 
Shareholder's funds 14,066    16,875 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 11 August 2023 and were signed on its behalf by:


-------------------------------
Mr C Clasmann
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2021 2  21,882  21,884 
Profit for the year 104,991  104,991 
Total comprehensive income for the year -  104,991  104,991 
Dividends (110,000) (110,000)
Total investments by and distributions to owners -  (110,000) (110,000)
At 31 March 2022 2  16,873  16,875 
At 01 April 2022 2  16,874  16,876 
Profit for the year 120,190  120,190 
Total comprehensive income for the year -  120,190  120,190 
Dividends (123,000) (123,000)
Total investments by and distributions to owners -  (123,000) (123,000)
At 31 March 2023 2  14,064  14,066 
5
General Information
PSAPP LTD is a private company, limited by shares, registered in England and Wales, registration number 07351196, registration address 7 Bell Yard, London, England, WC2A2JR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2022 51,372    -    51,372 
Additions -    4,062    4,062 
Disposals -    -    - 
At 31 March 2023 51,372    4,062    55,434 
Depreciation
At 01 April 2022 42,607    -    42,607 
Charge for year 2,192    887    3,079 
On disposals -    -    - 
At 31 March 2023 44,799    887    45,686 
Net book values
Closing balance as at 31 March 2023 6,573    3,175    9,748 
Opening balance as at 01 April 2022 8,765    -    8,765 


4.

Debtors: amounts falling due within one year

2023
£		   2022
£
VAT 247    0 
247    0 

5.

Creditors: amount falling due within one year

2023
£		   2022
£
Trade Creditors 0    0 
Corporation Tax 27,596    24,749 
PAYE & Social Security 814    0 
Accrued Expenses 750    750 
Directors' Current Accounts 1,168    8,818 
VAT 0    70 
30,328    34,387 

6.

Provisions for liabilities

2023
£		   2022
£
Deferred Tax 1,852    1,665 
1,852    1,665 

7.

Share Capital

Allotted, called up and fully paid
2023
£		   2022
£
2  Ordinary shares of £1.00 each 2    2 
2    2 

6