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Registration number: 03819928

Pejay (Nottm) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Pejay (Nottm) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Pejay (Nottm) Ltd

Company Information

Director

Mr Jason Richard Martin

Company secretary

Mrs Anna-Marie Martin

Registered office

c/o Atkinson Evans Limited
The Old Drill Hall
10 Arnot Hill Road
Arnold
Nottingham
NG5 6LJ

Accountants

Atkinson Evans Limited
Chartered Certified Accountants
The Old Drill Hall
10 Arnot Hill Road
Arnold
Nottingham
Nottinghamshire
NG5 6LJ

 

Pejay (Nottm) Ltd

(Registration number: 03819928)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,599

4,647

Current assets

 

Stocks

5

1,000

1,000

Debtors

6

74,475

62,113

Cash at bank and in hand

 

20,753

43,651

 

96,228

106,764

Creditors: Amounts falling due within one year

7

(76,167)

(84,648)

Net current assets

 

20,061

22,116

Total assets less current liabilities

 

24,660

26,763

Creditors: Amounts falling due after more than one year

7

(14,806)

(24,946)

Provisions for liabilities

(1,332)

(1,232)

Net assets

 

8,522

585

Capital and reserves

 

Called up share capital

102

102

Retained earnings

8,420

483

Shareholders' funds

 

8,522

585

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 September 2024
 

 

Pejay (Nottm) Ltd

(Registration number: 03819928)
Balance Sheet as at 31 December 2023

.........................................
Mr Jason Richard Martin
Director

 

Pejay (Nottm) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Atkinson Evans Limited
The Old Drill Hall
10 Arnot Hill Road
Arnold
Nottingham
NG5 6LJ

These financial statements were authorised for issue by the director on 16 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Pejay (Nottm) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

10 Years straight line

Fixtures and fittings

25% Reducing balance or 4 Years straight line

Vehicles

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Pejay (Nottm) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Pejay (Nottm) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Leasehold improvements
£

Fixtures and fittings
£

Vehicles
£

Total
£

Cost or valuation

At 1 January 2023

19,456

23,130

8,051

50,637

Additions

-

1,300

-

1,300

At 31 December 2023

19,456

24,430

8,051

51,937

Depreciation

At 1 January 2023

19,456

19,781

6,753

45,990

Charge for the year

-

1,022

326

1,348

At 31 December 2023

19,456

20,803

7,079

47,338

Carrying amount

At 31 December 2023

-

3,627

972

4,599

At 31 December 2022

-

3,349

1,298

4,647

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

1,000

1,000

6

Debtors

Current

2023
£

2022
£

Prepayments

7,327

10,656

Other debtors

67,148

51,457

 

74,475

62,113

 

Pejay (Nottm) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

10,140

9,890

Trade creditors

 

4,271

1,732

Taxation and social security

 

15,755

15,001

Accruals and deferred income

 

5,085

3,048

Other creditors

 

40,916

54,977

 

76,167

84,648

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

14,806

24,946

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

14,806

24,946

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,140

9,890