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COMPANY REGISTRATION NUMBER: 08276514
PAUL JORDAN LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2023
PAUL JORDAN LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
35,908
42,154
Investments
6
100
100
--------
--------
36,008
42,254
Current assets
Stocks
5,686
7,252
Debtors
7
347,279
334,313
Cash at bank and in hand
25,902
137,452
---------
---------
378,867
479,017
Creditors: amounts falling due within one year
8
124,451
193,063
---------
---------
Net current assets
254,416
285,954
---------
---------
Total assets less current liabilities
290,424
328,208
Provisions
Taxation including deferred tax
8,977
8,009
---------
---------
Net assets
281,447
320,199
---------
---------
PAUL JORDAN LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
281,347
320,099
---------
---------
Shareholders funds
281,447
320,199
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 March 2024 , and are signed on behalf of the board by:
P J Jordan
Director
Company registration number: 08276514
PAUL JORDAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bankfield Lodge, Standlake, Witney.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Trade and other debtors
Trade and other debtors are stated at cost less impairment losses for bad and doubtful debts.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable for work undertaken during the year, exclusive of Value Added Tax.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.
Taxation
Tax on income represents the sum of tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the note to the accounts because of items of that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using the tax rates that have been enacted or subsequently enacted by the end of the accounting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when timing differences reverse, based on current tax rates and laws. Current or deferred tax for the year is recognised in the statement of income and retained earnings.
Related parties
For the purposes of these financial statements, a party is considered to be related to the Company if:
(i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the Company or exercise significant influence over the Company in making financial and operating policy decisions, or has joint control over the Company;
(ii) the Company and the party are subject to common control;
(iii) the party is an associate of the Company or a joint venture in which the Company is a venturer;
(iv) the party is a member of key management personnel of the Company or the Company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;
(v) the party is a close family member of a party referred to in (i) or is an entity under the control, joint control or significant influence of such individuals; or
Close family members of an individual are those family members who it may be expected to influence, or be influenced by, that individual in their dealings with the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 5 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 December 2022
896
103,193
14,331
118,420
Additions
7,875
7,875
Disposals
( 8,400)
( 8,400)
----
---------
--------
---------
At 30 November 2023
896
102,668
14,331
117,895
----
---------
--------
---------
Depreciation
At 1 December 2022
807
64,902
10,557
76,266
Charge for the year
23
11,377
2,056
13,456
Disposals
( 7,735)
( 7,735)
----
---------
--------
---------
At 30 November 2023
830
68,544
12,613
81,987
----
---------
--------
---------
Carrying amount
At 30 November 2023
66
34,124
1,718
35,908
----
---------
--------
---------
At 30 November 2022
89
38,291
3,774
42,154
----
---------
--------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 December 2022 and 30 November 2023
100
----
Impairment
At 1 December 2022 and 30 November 2023
----
Carrying amount
At 30 November 2023
100
----
At 30 November 2022
100
----
The company owns 100% of the 100 Ordinary £1 share capital of Paul Jordan Investments Ltd.
There was a loan provided to Paul Jordan Investments Ltd and the balance at 30 November 2023 was £237,551, as detailed in the debtors note.
7. Debtors
2023
2022
£
£
Trade debtors
19,740
39,400
Amounts owed by group undertakings and undertakings in which the company has a participating interest
237,551
237,551
Other debtors
89,988
57,362
---------
---------
347,279
334,313
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
46,287
66,251
Corporation tax
16,100
25,503
Social security and other taxes
29,892
54,610
Other creditors
32,172
46,699
---------
---------
124,451
193,063
---------
---------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----