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Registered number: 11349060










PJH PROPERTY DEVELOPMENTS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PJH PROPERTY DEVELOPMENTS LTD
REGISTERED NUMBER: 11349060

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
1,845,352
1,179,926

Current assets
  

Debtors: amounts falling due within one year
 5 
16,703
789

Cash at bank and in hand
 6 
34,114
387,252

  
50,817
388,041

Creditors: amounts falling due within one year
 7 
(1,545,654)
(1,433,626)

Net current liabilities
  
 
 
(1,494,837)
 
 
(1,045,585)

Total assets less current liabilities
  
350,515
134,341

Creditors: amounts falling due after more than one year
 8 
(227,910)
-

  


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
122,505
134,241

  
122,605
134,341


Page 1

 
PJH PROPERTY DEVELOPMENTS LTD
REGISTERED NUMBER: 11349060
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 income and retained earnings 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 by: 




................................................
Samantha Laura Hine
Director

Date: 25 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PJH PROPERTY DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

PJH Property Development Ltd is a private limited company, incorporated in England and Wales.
The registered office and principal trading address is Unit 1 Stoke Mill, Mill Road, Sharnbrook, Bedford, MK44 1NP.
These accounts are for the year ended 31 December 2023. The previous accounts were for the eighteen months ended 31 December 2022. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP rounded to the nearest £1.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
PJH PROPERTY DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
PJH PROPERTY DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss 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.

  
2.8

Investment property

Investment property is carried at fair value determined annually by the directors 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 Income and Retained Earnings.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

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, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


3.


Employees




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

Page 5

 
PJH PROPERTY DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Investment property


Freehold investment properties

£



Valuation


At 1 January 2023
1,179,926


Additions at cost
665,426



At 31 December 2023
1,845,352

The 2023 valuations were made by the directors, on an open market value for existing use basis. The directors believe that the 2023 valuation represents a true and fair value of the property taking
into account changes in market conditions since the last valuation.



At 31 December 2023






5.


Debtors

2023
2022
£
£


Other debtors
746
789

Prepayments and accrued income
15,957
-

16,703
789



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
34,114
387,252


Page 6

 
PJH PROPERTY DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,622
7,018

Corporation tax
3,317
11,111

Other creditors
1,518,727
1,414,497

Accruals and deferred income
21,988
1,000

1,545,654
1,433,626



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Mortgage
227,910
-


The mortgage is secured.


9.


Related party transactions

At 31 December 2023 an amount of £300,000 (2022: £400,000) was due to the directors. This is included within other creditors. Interest of £10,000 (2022: £10,000) has been accrued on the loan. At the end of the period interest accrued of £46,112 (2022: £36,112) was due to the directors. 

At 31 December 2023 an amount of £1,172,215 (2022: £nil) was due to PJH Group Holdings Ltd, a company with common directors. This balance is included within other creditors. No interest has been accrued on this loan and is repayable on demand.
At 31 December 2023 an amount of £nil (2022: £977,730) was due to PJH Co. Ltd, a company with common directors. This balance is included within other creditors. No interest has been accrued on this loan and is repayable on demand.

 
Page 7