Registered number
12349103
PSJA Holdings Limited
Unaudited Filleted Accounts
31 December 2023
PSJA Holdings Limited
Registered number: 12349103
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - 2,377
Investments 4 430,000 410,000
430,000 412,377
Current assets
Cash at bank and in hand 5,984 3,365
Creditors: amounts falling due within one year 5 (11,080) (11,080)
Net current liabilities (5,096) (7,715)
Total assets less current liabilities 424,904 404,662
Creditors: amounts falling due after more than one year 6 (331,663) (336,766)
Provisions for liabilities (36,723) (24,109)
Net assets 56,518 43,787
Capital and reserves
Called up share capital 100 100
Undistributable reserve 8 110,168 102,782
Profit and loss account (53,750) (59,095)
Shareholder's funds 56,518 43,787
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Michaelides
Director
Approved by the board on 3 September 2024
PSJA Holdings Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from property rental.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 3 years
Investment properties
Investment properties are carried at fair value, derived from the current market prices for comparable properties. Changes in fair value are recognised in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 7,926
At 31 December 2023 7,926
Depreciation
At 1 January 2023 5,549
Charge for the year 2,377
At 31 December 2023 7,926
Net book value
At 31 December 2023 -
At 31 December 2022 2,377
4 Investments
Other
investments
£
Cost
At 1 January 2023 410,000
Revaluation 20,000
At 31 December 2023 430,000
Historical cost
At 1 January 2023 283,109
At 31 December 2023 283,109
The investment properties are carried at fair value which has been determined by recent independent valuations .
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 11,080 11,080
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 265,938 263,288
Other creditors 65,725 73,478
331,663 336,766
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 265,938 263,288
Secured bank loans 265,938 263,288
The bank loans are secured on the two investment properties.
8 Undistributable reserve 2023 2022
£ £
At 1 January 2023 102,782 86,582
Gain on revaluation of land and buildings 20,000 20,000
Deferred taxation arising on the revaluation of land and buildings (12,614) (3,800)
At 31 December 2023 110,168 102,782
9 Related party transactions
During the previous year the director made a loan to the company. The amount owed to the director at the year end was £75,725 (2022: £83,478). The loan is interest free and shown on an aggregated basis. £10,000 of the loan is repayable within one year and the remainder repayable after more than one year.
10 Other information
PSJA Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
19 Hartley Park Gardens
Plymouth
PL3 5HU
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