PSI Global Group Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10837734 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

PSI Global Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S Crawford

Mr L C R Austin

REGISTERED OFFICE:

Office 205-206

The Bridgewater Complex

Canal Street

Liverpool

Merseyside

L20 8AH

REGISTERED NUMBER:

10837734 (England and Wales)

ACCOUNTANTS:

SPi Accountancy LLP

Unit 10 Tiger Court

Kings Business Park

Knowsley

Liverpool

Merseyside

L34 1BH

FIXED ASSETS

Intangible assets

4

21,000

22,500

CURRENT ASSETS

Debtors

5

8,862,693

5,546,387

Cash at bank

539,006

124,634

9,401,699

5,671,021

CREDITORS

Amounts falling due within one year

6

9,407,983

5,742,680

NET CURRENT LIABILITIES

(6,284

)

(71,659

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,716

(49,159

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

14,616

(49,259

)

SHAREHOLDERS' FUNDS

14,716

(49,159

)

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

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

The directors acknowledge their 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2023 and were signed on its behalf by:

Mr S Crawford - Director

Mr L C R Austin - Director

1.	STATUTORY INFORMATION

PSI Global Group 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 15 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

30,000

AMORTISATION

At 1 April 2022

7,500

Charge for year

1,500

At 31 March 2023

9,000

NET BOOK VALUE

At 31 March 2023

21,000

At 31 March 2022

22,500

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

8,553,442

5,247,447

Other debtors

309,251

298,940

8,862,693

5,546,387

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

3,166,853

2,350,994

Trade creditors

5,825,811

3,232,721

Taxation and social security

182,900

112,320

Other creditors

232,419

46,645

9,407,983

5,742,680

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23

31.3.22

£

£

Mr S Crawford

Balance outstanding at start of year

42,000

-

Amounts advanced

-

42,000

Amounts repaid

(42,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

42,000

Mr L C R Austin

Balance outstanding at start of year

42,000

-

Amounts advanced

-

42,000

Amounts repaid

(42,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

42,000