PJS Networks Ltd
Registered number: 04920182
Statement of Financial Position
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 597 175
Financial assets 1 1
598 176
Current assets
Debtors 4 59,370 55,639
Cash at bank and in hand 254,425 175,110
313,795 230,749
Creditors: amounts falling due within one year 5 (85,084) (86,637)
Net current assets 228,711 144,112
Net assets 229,309 144,288
Capital and reserves
Called up share capital 100 100
Profit and loss account 229,209 144,188
Shareholders' funds 229,309 144,288
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Sandon
Director
Approved by the board on 27 November 2023
PJS Networks Ltd
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
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. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
Debtors
Short term debtors are measured at transaction 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.
Creditors
Short term creditors are measured at transaction 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 1,501
Additions 621
At 30 September 2023 2,122
Depreciation
At 1 October 2022 1,326
Charge for the year 199
At 30 September 2023 1,525
Net book value
At 30 September 2023 597
At 30 September 2022 175
4 Debtors 2023 2022
£ £
Trade debtors 58,677 54,933
Other debtors 693 706
59,370 55,639
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 24,758 28,746
Accruals 1,385 1,320
Corporation tax 27,438 23,909
Other taxes and social security costs 12,676 16,504
Other creditors 18,827 16,158
85,084 86,637
6 Other information
PJS Networks Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Ibworth Lane
Fleet
Hampshire
GU51 1AU
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