Psychology Services Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03786313 (England and Wales)

Financial Statements for the Year Ended 31st March 2023

for

Psychology Services Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr S J Young

REGISTERED OFFICE:

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

REGISTERED NUMBER:

03786313 (England and Wales)

ACCOUNTANTS:

The Richards Sandy Partnership

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

FIXED ASSETS

Tangible assets

4

3,538

2,622

Investments

5

311,996

316,163

315,534

318,785

CURRENT ASSETS

Debtors

1,925

11,569

Cash at bank

127,857

106,879

129,782

118,448

CREDITORS

Amounts falling due within one year

20,433

14,476

NET CURRENT ASSETS

109,349

103,972

TOTAL ASSETS LESS CURRENT LIABILITIES

424,883

422,757

PROVISIONS FOR LIABILITIES

9,057

300

NET ASSETS

415,826

422,457

CAPITAL AND RESERVES

Called up share capital

100

100

Non-distributable reserve

6

35,749

48,301

Retained earnings

379,977

374,056

SHAREHOLDERS' FUNDS

415,826

422,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12th December 2023 and were signed by:

Dr S J Young - Director

1.	STATUTORY INFORMATION

Psychology 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 as modified by the revaluation of certain assets.

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.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% 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 balance sheet date.

DEFERRED TAX

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

INVESTMENTS

Investments in offshore bonds are valued at market value at the year end. Both realised and unrealised gains or losses are shown in other comprehensive income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2022

42,235

Additions

2,098

At 31st March 2023

44,333

DEPRECIATION

At 1st April 2022

39,613

Charge for year

1,182

At 31st March 2023

40,795

NET BOOK VALUE

At 31st March 2023

3,538

At 31st March 2022

2,622

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1st April 2022

316,163

Revaluations

(4,167

)

At 31st March 2023

311,996

NET BOOK VALUE

At 31st March 2023

311,996

At 31st March 2022

316,163

6.

RESERVES

Non-distribu

reserve

£

At 1st April 2022

48,301

Revaluation

(12,552

)

At 31st March 2023

35,749