Company Registration No. 06270037 (England and Wales)
P J Estates Limited
Unaudited accounts
for the year ended 31 March 2023
P J Estates Limited
Unaudited accounts
Contents
P J Estates Limited
Company Information
for the year ended 31 March 2023
Directors
Mr Paul Calvesbert
Ms Karen Sharp
Secretary
Mr Paul Calvesbert
Company Number
06270037 (England and Wales)
Registered Office
Southsea Leisure Park
Melville Road
Southsea
Hampshire
PO4 9TB
Accountants
SJS Advsiory Ltd
Office 20, 5 Charter House
Lord Montgomery Way
Portsmouth
Hampshire
PO1 2SN
P J Estates Limited
Accountants' report
Accountants' report to the board of directors of P J Estates Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
P J Estates Limited for the year ended
31 March 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of P J Estates Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of P J Estates Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P J Estates Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that P J Estates Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of P J Estates Limited. You consider that P J Estates Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of P J Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
SJS Advsiory Ltd
Office 20, 5 Charter House
Lord Montgomery Way
Portsmouth
Hampshire
PO1 2SN
18 June 2023
P J Estates Limited
Statement of financial position
as at 31 March 2023
Tangible assets
9,500,000
7,701,956
Cash at bank and in hand
1,385,346
1,359,271
Creditors: amounts falling due within one year
(1,373,928)
(3,383,277)
Net current assets
364,506
60,147
Total assets less current liabilities
9,864,506
7,762,103
Creditors: amounts falling due after more than one year
(223,312)
(252,500)
Net assets
9,641,194
7,509,603
Called up share capital
2
2
Revaluation reserve
8,919,039
7,119,039
Profit and loss account
722,153
390,562
Shareholders' funds
9,641,194
7,509,603
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by
Mr Paul Calvesbert
Director
Company Registration No. 06270037
P J Estates Limited
Notes to the Accounts
for the year ended 31 March 2023
P J Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 06270037. The registered office is Southsea Leisure Park, Melville Road, Southsea, Hampshire, PO4 9TB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings: Land is initially recognised at cost and revalued where applicable. Buildings are initially recognised at cost and are depreciated over their useful economical life.
Plant & machinery: 25% on cost
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
P J Estates Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At valuation
At cost
At 1 April 2022
7,700,000
899,657
8,599,657
Revaluations
1,800,000
-
1,800,000
At 31 March 2023
9,500,000
899,657
10,399,657
At 1 April 2022
-
897,701
897,701
Charge for the year
-
1,956
1,956
At 31 March 2023
-
899,657
899,657
At 31 March 2023
9,500,000
-
9,500,000
At 31 March 2022
7,700,000
1,956
7,701,956
Amounts falling due within one year
Trade debtors
332,455
14,106
Amounts due from group undertakings etc.
-
1,911,220
Other debtors
20,633
158,827
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
35,254
49,556
Amounts owed to group undertakings and other participating interests
560,775
2,612,727
Taxes and social security
135,060
178,721
Other creditors
52,181
27,045
Deferred income
590,658
515,228
P J Estates Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
223,312
252,500
9
Transactions with related parties
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
The ultimate parent company is PJ Holdings (UK) Ltd registered in England & Wales.
The ultimate controlling party is Mr P Calvesbert.
11
Average number of employees
During the year the average number of employees was 11 (2022: 11).