COMPANY REGISTRATION NUMBER:
08752175
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
CHARTERED CERTIFIED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
PJA CONTRACTING LIMITED |
|
YEAR ENDED 31st MAY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PJA Contracting Limited for the year ended 31st May 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of PJA Contracting Limited, as a body, in accordance with the terms of our engagement letter dated 1st August 2017. Our work has been undertaken solely to prepare for your approval the financial statements of PJA Contracting Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PJA Contracting Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that PJA Contracting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PJA Contracting Limited. You consider that PJA Contracting Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of PJA Contracting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Colne Valley Business Services LLP t/a Cloke & Co
Chartered Certified Accountants
106-107 Dowgate Hill House
14-16 Dowgate Hill
London
EC4R 2SU
6 September 2024
STATEMENT OF FINANCIAL POSITION |
|
31 May 2024
CURRENT ASSETS
Stocks |
137 |
|
8,080 |
Debtors |
4 |
62,500 |
|
239,348 |
Cash at bank and in hand |
207,611 |
|
22,128 |
|
--------- |
|
--------- |
|
270,248 |
|
269,556 |
|
|
|
|
|
CREDITORS: amounts falling due within one year |
5 |
102,716 |
|
109,681 |
|
--------- |
|
--------- |
NET CURRENT ASSETS |
|
167,532 |
159,875 |
|
|
--------- |
--------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
167,532 |
159,875 |
|
|
--------- |
--------- |
NET ASSETS |
|
167,532 |
159,875 |
|
|
--------- |
--------- |
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
167,432 |
159,775 |
|
|
--------- |
--------- |
SHAREHOLDERS FUNDS |
|
167,532 |
159,875 |
|
|
--------- |
--------- |
|
|
|
|
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 31st May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 May 2024
These financial statements were approved by the
board of directors
and authorised for issue on
21 August 2024
, and are signed on behalf of the board by:
Company registration number:
08752175
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31st MAY 2024
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 106-107 Dowgate Hill House, 14-16 Dowgate Hill, London, EC4T 2SU.
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.
REVENUE RECOGNITION
Turnover is recognised when each stage of a contract is completed, less any amounts withheld for retentions by the contractor.
INCOME TAX
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
FINANCIAL INSTRUMENTS
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
DEBTORS
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
33,815 |
20,021 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
28,685 |
219,327 |
|
-------- |
--------- |
|
62,500 |
239,348 |
|
-------- |
--------- |
|
|
|
5.
CREDITORS:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
95,864 |
104,526 |
Corporation tax |
1,796 |
405 |
Social security and other taxes |
56 |
– |
Other creditors |
5,000 |
4,750 |
|
--------- |
--------- |
|
102,716 |
109,681 |
|
--------- |
--------- |
|
|
|
6.
RELATED PARTY TRANSACTIONS
The company was under the control of
P J Albone
throughout the current and previous year. P J Albone
is the managing director and majority shareholder. The director of PJA Contracting Limited is also a director of PJA Carpentry Limited. During the year PJA Carpentry Limited provided during the normal course of business carpentry and office services amounting to £846,527 (2023 - £850,437) and rent of offices amounting to £6,000 (2023 - £6,000). At the end of the year end, PJA Contracting Limited was owed by PJA Carpentry Limited £28,685 (2023 - £219,327). No other transactions with related parties were undertaken such as required to be disclosed under FRS 102 Section 1A.