Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.20212023-04-01falseNo description of principal activityfalsetrue SC686708 2023-04-01 2024-03-31 SC686708 2022-04-01 2023-03-31 SC686708 2024-03-31 SC686708 2023-03-31 SC686708 c:Director1 2023-04-01 2024-03-31 SC686708 c:Director2 2023-04-01 2024-03-31 SC686708 c:RegisteredOffice 2023-04-01 2024-03-31 SC686708 d:PlantMachinery 2023-04-01 2024-03-31 SC686708 d:PlantMachinery 2024-03-31 SC686708 d:PlantMachinery 2023-03-31 SC686708 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC686708 d:MotorVehicles 2023-04-01 2024-03-31 SC686708 d:MotorVehicles 2024-03-31 SC686708 d:MotorVehicles 2023-03-31 SC686708 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC686708 d:FurnitureFittings 2023-04-01 2024-03-31 SC686708 d:FurnitureFittings 2024-03-31 SC686708 d:FurnitureFittings 2023-03-31 SC686708 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC686708 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC686708 d:CurrentFinancialInstruments 2024-03-31 SC686708 d:CurrentFinancialInstruments 2023-03-31 SC686708 d:Non-currentFinancialInstruments 2024-03-31 SC686708 d:Non-currentFinancialInstruments 2023-03-31 SC686708 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC686708 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC686708 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC686708 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC686708 d:ShareCapital 2024-03-31 SC686708 d:ShareCapital 2023-03-31 SC686708 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC686708 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC686708 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC686708 c:OrdinaryShareClass1 2024-03-31 SC686708 c:OrdinaryShareClass1 2023-03-31 SC686708 c:OrdinaryShareClass2 2023-04-01 2024-03-31 SC686708 c:OrdinaryShareClass2 2024-03-31 SC686708 c:OrdinaryShareClass2 2023-03-31 SC686708 c:FRS102 2023-04-01 2024-03-31 SC686708 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC686708 c:FullAccounts 2023-04-01 2024-03-31 SC686708 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC686708










PJM SERVICES LADYBANK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
PJM SERVICES LADYBANK LIMITED
 

COMPANY INFORMATION


Directors
Mr M Riddell 
Mr S R Whyte 




Registered number
SC686708



Registered office
Broomfield Farm
Ladybank

Fife

KY15 7RD




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
PJM SERVICES LADYBANK LIMITED
REGISTERED NUMBER: SC686708

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
1,945,944
1,633,311

  
1,945,944
1,633,311

Current assets
  

Stocks
  
6,000
6,000

Debtors: amounts falling due after more than one year
 5 
170,000
-

Debtors: amounts falling due within one year
 5 
606,228
505,008

Bank and cash balances
  
174,124
86,086

  
956,352
597,094

Creditors: amounts falling due within one year
 6 
(791,508)
(666,259)

Net current assets/(liabilities)
  
 
 
164,844
 
 
(69,165)

Total assets less current liabilities
  
2,110,788
1,564,146

Creditors: amounts falling due after more than one year
 7 
(746,062)
(803,679)

Provisions for liabilities
  

Deferred tax
  
(281,690)
(128,645)

  
 
 
(281,690)
 
 
(128,645)

Net assets
  
1,083,036
631,822


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
1,082,936
631,722

  
1,083,036
631,822


Page 1

 
PJM SERVICES LADYBANK LIMITED
REGISTERED NUMBER: SC686708

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 on 13 August 2024.




Mr M Riddell
Director

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

Page 2

 
PJM SERVICES LADYBANK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

PJM Services Ladybank Limited is a private company, limited by shares, incorporated in Scotland with registration number SC686708. The registered office is Broomfield Farm, Ladybank, Fife, Scotland, KY15 7RD.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
PJM SERVICES LADYBANK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing Balance
Motor vehicles
-
25%
Reducing Balance
Fixtures and fittings
-
25%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
PJM SERVICES LADYBANK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2023 - 21).

Page 5

 
PJM SERVICES LADYBANK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2023
1,532,534
833,629
7,044
2,373,207


Additions
303,275
719,482
-
1,022,757


Disposals
(170,357)
(277,767)
-
(448,124)



At 31 March 2024

1,665,452
1,275,344
7,044
2,947,840



Depreciation


At 1 April 2023
587,943
147,581
4,372
739,896


Charge for the year on owned assets
280,068
189,296
669
470,033


Disposals
(72,959)
(135,074)
-
(208,033)



At 31 March 2024

795,052
201,803
5,041
1,001,896



Net book value



At 31 March 2024
870,400
1,073,541
2,003
1,945,944



At 31 March 2023
944,591
686,048
2,672
1,633,311


5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
170,000
-

170,000
-


2024
2023
£
£

Due within one year

Trade debtors
604,051
484,302

Other debtors
1,000
19,226

Prepayments and accrued income
1,177
1,480

606,228
505,008


Page 6

 
PJM SERVICES LADYBANK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
265,054
206,675

Other taxation and social security
36,518
51,911

Obligations under finance lease and hire purchase contracts
432,489
363,528

Other creditors
44,047
30,995

Accruals and deferred income
3,400
3,150

791,508
666,259


The obligations under finance lease and hire purchase contracts balance of £432,489 (2023: £363,528) is secured over the assets to which they relate.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,666
21,666

Net obligations under finance leases and hire purchase contracts
472,260
482,013

Other creditors
262,136
300,000

746,062
803,679


The obligations under finance lease and hire purchase contracts balance of £472,260 (2023: £482,013) is secured over the assets to which they relate.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



80 (2023 - 80) Ordinary A shares of £1.00 each
80
80
20 (2023 - 20) Ordinary B shares of £1.00 each
20
20

100

100



Page 7