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REGISTERED NUMBER: 06533139 (England and Wales)















P J SOUTHALL LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2023






P J SOUTHALL LIMITED (REGISTERED NUMBER: 06533139)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P J SOUTHALL LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: P J Southall
A T Richardson





REGISTERED OFFICE: 59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX





REGISTERED NUMBER: 06533139 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

P J SOUTHALL LIMITED (REGISTERED NUMBER: 06533139)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,138
Tangible assets 5 145,093 133,697
145,093 134,835

CURRENT ASSETS
Stocks 2,220 2,382
Debtors 6 113,494 112,607
115,714 114,989
CREDITORS
Amounts falling due within one year 7 129,275 185,516
NET CURRENT LIABILITIES (13,561 ) (70,527 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,532

64,308

CREDITORS
Amounts falling due after more than one
year

8

75,771

63,766
NET ASSETS 55,761 542

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 55,661 442
SHAREHOLDERS' FUNDS 55,761 542

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 SOUTHALL LIMITED (REGISTERED NUMBER: 06533139)

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.

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:





P J Southall - Director


P J SOUTHALL LIMITED (REGISTERED NUMBER: 06533139)

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

1. STATUTORY INFORMATION

P J Southall 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of 15 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance

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 SOUTHALL LIMITED (REGISTERED NUMBER: 06533139)

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

2. ACCOUNTING POLICIES - continued

Hire purchase
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their useful lives. Those held under finance leases are depreciated over their estimated useful lives, or the lease term, whichever is shorter.

The interest element of those obligations are charged to the profit and loss account over the relevant period.

The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 17,000
AMORTISATION
At 1 April 2022 15,862
Charge for year 1,138
At 31 March 2023 17,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 1,138

P J SOUTHALL LIMITED (REGISTERED NUMBER: 06533139)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022 368,995
Additions 49,176
Disposals (16,885 )
At 31 March 2023 401,286
DEPRECIATION
At 1 April 2022 235,298
Charge for year 20,895
At 31 March 2023 256,193
NET BOOK VALUE
At 31 March 2023 145,093
At 31 March 2022 133,697

The net book value of tangible fixed assets includes £ 80,786 (2022 - £ 41,471 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 98,640 88,063
Prepayments 14,854 24,544
113,494 112,607

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 17,556 72,217
Hire purchase contracts 20,663 9,989
Trade creditors and Accruals 47,370 42,783
Amounts owed to group undertakings 37,600 37,600
Social security and other taxes 1,509 15,444
Directors' current accounts 4,577 7,483
129,275 185,516

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,066 9,744
Bank loans - 2-5 years 18,359 28,474
Hire purchase contracts 47,346 25,548
75,771 63,766

P J SOUTHALL LIMITED (REGISTERED NUMBER: 06533139)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 68,009 35,537

The hire purchase liability is secured against the assets to which it relates.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party was the director Mr P J Southall by virtue of his majorty holding in the issued share capital of P J Southall Solutions Limited. P J Southall Limited is a 100% wholly owned subsidiary company of P J Southall Solutions Limited.