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REGISTERED NUMBER: 07583809 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

P & J Odley Limited

P & J Odley Limited (Registered number: 07583809)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


P & J Odley Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs T J Odley
P Odley
H S Odley





REGISTERED OFFICE: The Old School
The Quay
Carmathen
Carmarthenshire
SA31 3LN





REGISTERED NUMBER: 07583809 (England and Wales)





ACCOUNTANTS: Ashmole & Co.
Chartered Certified Accountants
The Old School
The Quay
Carmarthen
Carmarthenshire
SA31 3LN

P & J Odley Limited (Registered number: 07583809)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40,000 40,000
Tangible assets 5 53,665 48,309
Investment property 6 700,000 700,000
793,665 788,309

CURRENT ASSETS
Stocks 15,250 16,250
Debtors 15,376 7,571
Cash at bank and in hand 657,618 569,527
688,244 593,348
CREDITORS
Amounts falling due within one year 223,536 230,694
NET CURRENT ASSETS 464,708 362,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,258,373

1,150,963

PROVISIONS FOR LIABILITIES 42,627 43,555
NET ASSETS 1,215,746 1,107,408

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 7 139,801 148,095
Retained earnings 1,075,941 959,309
SHAREHOLDERS' FUNDS 1,215,746 1,107,408

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.

P & J Odley Limited (Registered number: 07583809)

Abridged Balance Sheet - continued
31 March 2023


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 31 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 Board of Directors and authorised for issue on 1 December 2023 and were signed on its behalf by:





Mrs T J Odley - Director


P & J Odley Limited (Registered number: 07583809)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

P & J Odley 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.

Goodwill
The company acquired goodwill of £40,000 in 2011. The goodwill is not being amortised, as the directors believe that the carrying value of the goodwill equals its residual value.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

P & J Odley Limited (Registered number: 07583809)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 40,000
NET BOOK VALUE

At 31 March 2023 40,000
At 31 March 2022 40,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 110,460
Additions 14,826
At 31 March 2023 125,286
DEPRECIATION
At 1 April 2022 62,151
Charge for year 9,470
At 31 March 2023 71,621
NET BOOK VALUE
At 31 March 2023 53,665
At 31 March 2022 48,309

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 700,000
Additions 10,240
Revaluations (10,240 )
At 31 March 2023 700,000
NET BOOK VALUE
At 31 March 2023 700,000
At 31 March 2022 700,000

P & J Odley Limited (Registered number: 07583809)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 182,472
Cost 517,528
700,000

7. RESERVES
Fair
value
reserve
£   
At 1 April 2022 148,095
Revaluation (10,240 )
Transfer to non distributable 1,946

At 31 March 2023 139,801

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mrs TJ Odley, Mr P Odley Jnr and Mr HS Odley.