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COMPANY REGISTRATION NUMBER: 00755443
P. James and Company Limited
Filleted Unaudited Financial Statements
31 December 2023
P. James and Company Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
4,716
3,867
Current assets
Debtors
6
4,982
4,980
Cash at bank and in hand
14,006
29,513
--------
--------
18,988
34,493
Creditors: amounts falling due within one year
7
30,546
13,625
--------
--------
Net current (liabilities)/assets
( 11,558)
20,868
--------
--------
Total assets less current liabilities
( 6,842)
24,735
-------
--------
Net (liabilities)/assets
( 6,842)
24,735
-------
--------
Capital and reserves
Called up share capital
150
150
Profit and loss account
( 6,992)
24,585
-------
--------
Shareholders (deficit)/funds
( 6,842)
24,735
-------
--------
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 31 December 2023 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 .
P. James and Company Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 4 October 2024 , and are signed on behalf of the board by:
Miss F Brown
Director
Company registration number: 00755443
P. James and Company Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 86 Leverton Street, London, NW5 2NY.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 January 2023
64,875
6,850
11,270
82,995
Additions
1,958
1,958
--------
-------
--------
--------
At 31 December 2023
64,875
6,850
13,228
84,953
--------
-------
--------
--------
Depreciation
At 1 January 2023
63,053
5,631
10,444
79,128
Charge for the year
274
305
530
1,109
--------
-------
--------
--------
At 31 December 2023
63,327
5,936
10,974
80,237
--------
-------
--------
--------
Carrying amount
At 31 December 2023
1,548
914
2,254
4,716
--------
-------
--------
--------
At 31 December 2022
1,822
1,219
826
3,867
--------
-------
--------
--------
6. Debtors
2023
2022
£
£
Other debtors
4,982
4,980
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
800
800
Other creditors
29,746
12,825
--------
--------
30,546
13,625
--------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr J Brown
( 3,963)
58,063
( 79,800)
( 25,700)
Miss F Brown
4
11,611
( 11,511)
104
-------
--------
--------
--------
( 3,959)
69,674
( 91,311)
( 25,596)
-------
--------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr J Brown
( 4,174)
48,131
( 47,920)
( 3,963)
Miss F Brown
25
129
( 150)
4
-------
--------
--------
-------
( 4,149)
48,260
( 48,070)
( 3,959)
-------
--------
--------
-------