REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2021 |
for |
PJM PARTNERS LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2021 |
for |
PJM PARTNERS LTD |
PJM PARTNERS LTD (Registered number: 11852011) |
Contents of the Financial Statements |
for the Year Ended 28 February 2021 |
Page |
Balance Sheet | 1 |
PJM PARTNERS LTD (Registered number: 11852011) |
Balance Sheet |
28 February 2021 |
28.2.21 | 29.2.20 |
(Restated) |
£ | £ | £ | £ |
FIXED ASSETS |
CURRENT ASSETS |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
NOTES TO THE FINANCIAL STATEMENTS |
1. | STATUTORY INFORMATION |
PJM PARTNERS LTD is a |
Registered number: |
Registered office: |
2. | GOING CONCERN |
As at the year end, the company’s balance sheet showed net current liabilities. This indicates that the company is technically insolvent and could be wound up on the petition of creditors. |
The directors have considered the position of the company and believe that in the forthcoming year the company can trade profitably, recoup losses and thus improve the financial position of the company. |
On this basis the directors believe it to be appropriate to prepare the accounts on a going concern basis. |
PJM PARTNERS LTD (Registered number: 11852011) |
Balance Sheet - continued |
28 February 2021 |
NOTES TO THE FINANCIAL STATEMENTS |
3. | AVERAGE NUMBER OF EMPLOYEES |
The average number of employees during the year was |
4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the year ended 28 February 2021 and the period ended 29 February 2020: |
28.2.21 | 29.2.20 |
(Restated) |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The directors' loans accrued interest at 2.25% and were repaid within 9 months after year end. |
5. | INVESTMENT PROPERTY |
The investment properties have been measured in accordance with the fair value accounting rules where fair values have been determined by reference to market price in an active market. |
PJM PARTNERS LTD (Registered number: 11852011) |
Balance Sheet - continued |
28 February 2021 |
NOTES TO THE FINANCIAL STATEMENTS |
6. | PRIOR PERIOD ADJUSTMENT |
The accounts have been restated to include a mortgage liability that was previously credited to the directors loan account in error and to expense 'other' debtor to professional fees. |
Summary of prior year adjustment impact - | £ |
Capital and Reserves brought forward February 2020 previously reported |
3,601,700 |
Increase in expenses - Mortgage interest accounted for | 4,403 |
Increase in expenses - 'Other' debtor reclassified | 9,030 |
Increase in creditors - Mortgage liability accounted | 1,310,634 |
Capital and Reserves brought forward February 2020 restated | 2,277,633 |
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 were approved by the Board of Directors and authorised for issue on |