2022-03-012023-02-282023-02-28false09401340PJS SOLUTIONS LIMITED2023-10-10iso4217:GBPxbrli:pure094013402022-03-01094013402023-02-28094013402022-03-012023-02-28094013402021-03-01094013402022-02-28094013402021-03-012022-02-2809401340bus:SmallEntities2022-03-012023-02-2809401340bus:AuditExempt-NoAccountantsReport2022-03-012023-02-2809401340bus:FullAccounts2022-03-012023-02-2809401340bus:PrivateLimitedCompanyLtd2022-03-012023-02-2809401340core:WithinOneYear2023-02-2809401340core:AfterOneYear2023-02-2809401340core:WithinOneYear2022-02-2809401340core:AfterOneYear2022-02-2809401340core:ShareCapital2023-02-2809401340core:SharePremium2023-02-2809401340core:RevaluationReserve2023-02-2809401340core:OtherReservesSubtotal2023-02-2809401340core:RetainedEarningsAccumulatedLosses2023-02-2809401340core:ShareCapital2022-02-2809401340core:SharePremium2022-02-2809401340core:RevaluationReserve2022-02-2809401340core:OtherReservesSubtotal2022-02-2809401340core:RetainedEarningsAccumulatedLosses2022-02-2809401340core:LandBuildings2023-02-2809401340core:PlantMachinery2023-02-2809401340core:Vehicles2023-02-2809401340core:FurnitureFittings2023-02-2809401340core:OfficeEquipment2023-02-2809401340core:NetGoodwill2023-02-2809401340core:IntangibleAssetsOtherThanGoodwill2023-02-2809401340core:ListedExchangeTraded2023-02-2809401340core:UnlistedNon-exchangeTraded2023-02-2809401340core:LandBuildings2022-02-2809401340core:PlantMachinery2022-02-2809401340core:Vehicles2022-02-2809401340core:FurnitureFittings2022-02-2809401340core:OfficeEquipment2022-02-2809401340core:NetGoodwill2022-02-2809401340core:IntangibleAssetsOtherThanGoodwill2022-02-2809401340core:ListedExchangeTraded2022-02-2809401340core:UnlistedNon-exchangeTraded2022-02-2809401340core:LandBuildings2022-03-012023-02-2809401340core:PlantMachinery2022-03-012023-02-2809401340core:Vehicles2022-03-012023-02-2809401340core:FurnitureFittings2022-03-012023-02-2809401340core:OfficeEquipment2022-03-012023-02-2809401340core:NetGoodwill2022-03-012023-02-2809401340core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2809401340core:ListedExchangeTraded2022-03-012023-02-2809401340core:UnlistedNon-exchangeTraded2022-03-012023-02-2809401340core:MoreThanFiveYears2022-03-012023-02-2809401340core:Non-currentFinancialInstruments2023-02-2809401340core:Non-currentFinancialInstruments2022-02-2809401340dpl:CostSales2022-03-012023-02-2809401340dpl:DistributionCosts2022-03-012023-02-2809401340dpl:AdministrativeExpenses2022-03-012023-02-2809401340core:LandBuildings2022-03-012023-02-2809401340core:PlantMachinery2022-03-012023-02-2809401340core:Vehicles2022-03-012023-02-2809401340core:FurnitureFittings2022-03-012023-02-2809401340core:OfficeEquipment2022-03-012023-02-2809401340core:NetGoodwill2022-03-012023-02-2809401340core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2809401340dpl:GroupUndertakings2022-03-012023-02-2809401340dpl:ParticipatingInterests2022-03-012023-02-2809401340dpl:GroupUndertakingscore:ListedExchangeTraded2022-03-012023-02-2809401340core:ListedExchangeTraded2022-03-012023-02-2809401340dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-03-012023-02-2809401340core:UnlistedNon-exchangeTraded2022-03-012023-02-2809401340dpl:CostSales2021-03-012022-02-2809401340dpl:DistributionCosts2021-03-012022-02-2809401340dpl:AdministrativeExpenses2021-03-012022-02-2809401340core:LandBuildings2021-03-012022-02-2809401340core:PlantMachinery2021-03-012022-02-2809401340core:Vehicles2021-03-012022-02-2809401340core:FurnitureFittings2021-03-012022-02-2809401340core:OfficeEquipment2021-03-012022-02-2809401340core:NetGoodwill2021-03-012022-02-2809401340core:IntangibleAssetsOtherThanGoodwill2021-03-012022-02-2809401340dpl:GroupUndertakings2021-03-012022-02-2809401340dpl:ParticipatingInterests2021-03-012022-02-2809401340dpl:GroupUndertakingscore:ListedExchangeTraded2021-03-012022-02-2809401340core:ListedExchangeTraded2021-03-012022-02-2809401340dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-03-012022-02-2809401340core:UnlistedNon-exchangeTraded2021-03-012022-02-2809401340core:NetGoodwill2023-02-2809401340core:IntangibleAssetsOtherThanGoodwill2023-02-2809401340core:LandBuildings2023-02-2809401340core:PlantMachinery2023-02-2809401340core:Vehicles2023-02-2809401340core:FurnitureFittings2023-02-2809401340core:OfficeEquipment2023-02-2809401340core:AfterOneYear2023-02-2809401340core:WithinOneYear2023-02-2809401340core:ListedExchangeTraded2023-02-2809401340core:UnlistedNon-exchangeTraded2023-02-2809401340core:ShareCapital2023-02-2809401340core:SharePremium2023-02-2809401340core:RevaluationReserve2023-02-2809401340core:OtherReservesSubtotal2023-02-2809401340core:RetainedEarningsAccumulatedLosses2023-02-2809401340core:NetGoodwill2022-02-2809401340core:IntangibleAssetsOtherThanGoodwill2022-02-2809401340core:LandBuildings2022-02-2809401340core:PlantMachinery2022-02-2809401340core:Vehicles2022-02-2809401340core:FurnitureFittings2022-02-2809401340core:OfficeEquipment2022-02-2809401340core:AfterOneYear2022-02-2809401340core:WithinOneYear2022-02-2809401340core:ListedExch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PJS SOLUTIONS LIMITED

Registered Number
09401340
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

PJS SOLUTIONS LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

James Russell Stride

Registered Address

The Bungalow Cropredy Lawn
Cropredy
Banbury
OX17 1DR

Registered Number

09401340 (England and Wales)
PJS SOLUTIONS LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets82,8333,333
Tangible assets942,20232,260
Investments1020,162-
65,19735,593
Current assets
Stocks13162,000132,000
Debtors14197,606175,673
Cash at bank and on hand23,77794,608
383,383402,281
Creditors amounts falling due within one year15(258,651)(251,285)
Net current assets (liabilities)124,732150,996
Total assets less current liabilities189,929186,589
Creditors amounts falling due after one year16(98,854)(147,690)
Provisions for liabilities18(9,686)(4,841)
Net assets81,38934,058
Capital and reserves
Called up share capital100100
Profit and loss account81,28933,958
Shareholders' funds81,38934,058
The financial statements were approved and authorised for issue by the Director on 10 October 2023, and are signed on its behalf by:
James Russell Stride
Director
Registered Company No. 09401340
PJS SOLUTIONS LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.First time adoption and other factors relevant to transition
The company previously applied FRS 105 and was not previously required to recognise deferred tax on the balance sheet as a result. FRS 102 recognises deferred tax as a non-current financial liability. Consequently, a non-current financial liability of £5,895 has been recognised in the opening balance sheet at 1 March 2021. The effect on profit for the year ended 28 February 2022 is an increase of £1,055.
4.Principal activities
The principal activities of the business were that of specifying and installing high performance fire rated acoustic partition systems built up to 30 metres from the ground.
5.Basis of measurement used in financial statements
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).
6.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Vehicles4
Office Equipment4
Intangible assets policy
Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation. Goodwill is amortised over its useful life on a straight-line basis at 10% per annum.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Government grants and other government assistance policy
Government grants in relation to tangible fixed assets are credited to profit and loss over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Biological investments are valued at fair value less cost to sell. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
7.Employee information

20232022
Average number of employees during the year22
8.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 March 225,0005,000
At 28 February 235,0005,000
Amortisation and impairment
At 01 March 221,6671,667
Charge for year500500
At 28 February 232,1672,167
Net book value
At 28 February 232,8332,833
At 28 February 223,3333,333
9.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 March 2222,36934,9505,04162,360
Additions26,786-2,25529,041
At 28 February 2349,15534,9507,29691,401
Depreciation and impairment
At 01 March 2210,47217,2952,33330,100
Charge for year9,4697,9041,72619,099
At 28 February 2319,94125,1994,05949,199
Net book value
At 28 February 2329,2149,7513,23742,202
At 28 February 2211,89717,6552,70832,260
Included within the net book value of vehicles is £7,501 (2022: £12,238) in respect of an asset obtained under a finance lease.
10.Fixed asset investments
The company has invested in race horses.

Other investments1

Total

££
Cost or valuation
Additions24,40224,402
Disposals(4,240)(4,240)
At 28 February 2320,16220,162
Net book value
At 28 February 2320,16220,162
At 28 February 22--

Notes

1Other investments other than loans
11.Description of nature of transactions and balances with related parties
Jumbo Stud Partitions Ltd and Highbay Partitions Limited are companies with common directors. During the year, the company incurred expenses on behalf of both Jumbo Stud Partitions Ltd and Highbay Partitions Limited. At 28 February 2023 Jumbo Stud Partitions Ltd owed the company £4,384 (2022: £127) and Highbay Partitions Limited owed the company £147,741 (2022: £124,805) which are included in other debtors.
12.Dividends proposed and payable

2023

2022

££
Dividends Paid2,0003,000
Total2,0003,000
Amounts recognised as distributions to equity holders in the year: Interim dividend for the year ended 28 February 2023 of £20 per share (2022: £30 per share).
13.Stocks

2023

2022

££
Work in progress74,00074,000
Other stocks88,00058,000
Total162,000132,000
14.Debtors

2023

2022

££
Trade debtors / trade receivables16,98435,472
Other debtors169,732132,595
Prepayments and accrued income10,8907,606
Total197,606175,673
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
15.Creditors within one year

2023

2022

££
Trade creditors / trade payables61,846109,532
Bank borrowings and overdrafts90,45847,931
Taxation and social security25626,119
Finance lease and HP contracts2,5863,659
Other creditors57,4053,782
Accrued liabilities and deferred income46,10060,262
Total258,651251,285
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The finance lease is secured on the asset concerned.
16.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts98,854145,104
Other creditors-2,586
Total98,854147,690
The finance lease is secured on the asset concerned. Bank loans outstanding at the reporting date include instalments due after more than five years of £nil (2022: £nil).
17.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts-2,586
18.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)9,6864,841
Total9,6864,841