Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31false2022-08-01No description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05880935 2022-08-01 2023-07-31 05880935 2021-08-01 2022-07-31 05880935 2023-07-31 05880935 2022-07-31 05880935 2021-08-01 05880935 c:Director1 2022-08-01 2023-07-31 05880935 d:FreeholdInvestmentProperty 2023-07-31 05880935 d:FreeholdInvestmentProperty 2022-07-31 05880935 d:CurrentFinancialInstruments 2023-07-31 05880935 d:CurrentFinancialInstruments 2022-07-31 05880935 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 05880935 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 05880935 d:ShareCapital 2023-07-31 05880935 d:ShareCapital 2022-07-31 05880935 d:RevaluationReserve 2023-07-31 05880935 d:RevaluationReserve 2022-07-31 05880935 d:RetainedEarningsAccumulatedLosses 2023-07-31 05880935 d:RetainedEarningsAccumulatedLosses 2022-07-31 05880935 c:FRS102 2022-08-01 2023-07-31 05880935 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 05880935 c:FullAccounts 2022-08-01 2023-07-31 05880935 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05880935 2 2022-08-01 2023-07-31 05880935 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 05880935 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 05880935 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 05880935









P J PROPERTY LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
P J PROPERTY LTD
REGISTERED NUMBER: 05880935

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
6,000,000
6,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
292,000
292,000

Cash at bank and in hand
  
27,947
123,386

  
319,947
415,386

Creditors: amounts falling due within one year
 6 
(498,049)
(734,927)

Net current liabilities
  
 
 
(178,102)
 
 
(319,541)

Total assets less current liabilities
  
5,821,898
5,680,459

Provisions for liabilities
  

Deferred tax
  
(1,169,541)
(1,169,541)

Net assets
  
4,652,357
4,510,918


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
  
3,886,969
3,886,969

Profit and loss account
  
765,386
623,947

  
4,652,357
4,510,918


Page 1

 
P J PROPERTY LTD
REGISTERED NUMBER: 05880935
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 April 2024.





P J O'Connor
Director


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
P J PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

P J Property Ltd ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered number is 05880935. The registered office is Farley House, Kinvara Business Park, 22-42 Freshwater Road, Dagenham, Essex, RM8 1RY.  
The principal activity of the Company during the year was that of leasing and management of property.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.4

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

Page 3

 
P J PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
P J PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2022
6,000,000



At 31 July 2023
6,000,000

The investment property has been valued by the directors, as at 31 July 2023, at open market value for existing use basis. The Company received rental income in respect of the property of £192,000 (2022 - £192,000)



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
943,940
943,940


5.


Debtors

2023
2022
£
£


Other debtors
292,000
292,000



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
37,599
25,081

Other taxation and social security
9,600
9,600

Other creditors
448,000
697,596

Accruals and deferred income
2,850
2,650

498,049
734,927


Page 5

 
P J PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Deferred taxation




2023
2022


£

£






At beginning of year
(1,169,541)
(879,193)


Credited/(Charged) to the Statement of comprehensive income
-
(290,348)



At end of year
(1,169,541)
(1,169,541)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised gains on revaluation of the investment property
(1,169,541)
(1,169,541)

(1,169,541)
(1,169,541)


8.


Related party transactions

Included in other creditors at the year end is a balance of £Nil (2022 - £697,596) owed to a director of the Company. No interest has been charged in respect of this balance.

 
Page 6