Company Registration No. 01605025 (England and Wales)
PJS Industrial Supplies Limited
Unaudited accounts
for the year ended 31 December 2023
PJS Industrial Supplies Limited
Unaudited accounts
Contents
PJS Industrial Supplies Limited
Company Information
for the year ended 31 December 2023
Directors
Mr J. Huxtable
Mrs S Huxtable
Company Number
01605025 (England and Wales)
Registered Office
UNIT 10 CASTLEACRES INDUSTRIAL PARK
CASTLE ROAD
SITTINGBOURNE
KENT
ME10 3RZ
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
PJS Industrial Supplies Limited
Statement of financial position
as at 31 December 2023
Tangible assets
33,070
40,940
Inventories
71,725
100,948
Cash at bank and in hand
195,042
277,371
Creditors: amounts falling due within one year
(80,262)
(132,391)
Net current assets
567,125
730,751
Total assets less current liabilities
600,195
771,691
Provisions for liabilities
Deferred tax
(8,294)
(8,294)
Net assets
591,901
763,397
Called up share capital
3
3
Profit and loss account
591,898
763,394
Shareholders' funds
591,901
763,397
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 June 2024 and were signed on its behalf by
Mr J. Huxtable
Director
Company Registration No. 01605025
PJS Industrial Supplies Limited
Notes to the Accounts
for the year ended 31 December 2023
PJS Industrial Supplies Limited is a private company, limited by shares, registered in England and Wales, registration number 01605025. The registered office is UNIT 10 CASTLEACRES INDUSTRIAL PARK, CASTLE ROAD, SITTINGBOURNE, KENT, ME10 3RZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line over 50 years
Motor vehicles
25% Reducing Balance Method
Fixtures & fittings
25% Reducing Balance Method
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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's 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 the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
PJS Industrial Supplies Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2023
60,660
153,951
214,611
At 31 December 2023
60,660
157,105
217,765
At 1 January 2023
41,253
132,418
173,671
Charge for the year
4,852
6,172
11,024
At 31 December 2023
46,105
138,590
184,695
At 31 December 2023
14,555
18,515
33,070
At 31 December 2022
19,407
21,533
40,940
Amounts falling due within one year
Trade debtors
76,511
106,503
Amounts due from group undertakings etc.
301,109
377,525
Accrued income and prepayments
3,000
-
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
40,712
87,965
Taxes and social security
9,500
25,003
Other creditors
8,964
9,523
Loans from directors
5,516
5,204
7
Deferred taxation
2023
2022
Accelerated capital allowances
8,294
8,294
Provision at start of year
8,294
8,294
Provision at end of year
8,294
8,294
PJS Industrial Supplies Limited
Notes to the Accounts
for the year ended 31 December 2023
8
Transactions with related parties
Included within other debtors is an amount of £301109(2022 £377,525 owed from the parent company Hux Holdings Limited.
The ultimate controlling party is the parent company Hux Holdings Limited.
10
Average number of employees
During the year the average number of employees was 3 (2022: 4).