IRIS Accounts Production v24.2.0.383 03911898 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh039118982023-03-31039118982024-03-31039118982023-04-012024-03-31039118982022-03-31039118982022-04-012023-03-31039118982023-03-3103911898ns15:EnglandWales2023-04-012024-03-3103911898ns14:PoundSterling2023-04-012024-03-3103911898ns10:Director12023-04-012024-03-3103911898ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103911898ns10:SmallEntities2023-04-012024-03-3103911898ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103911898ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103911898ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103911898ns10:AbridgedAccounts2023-04-012024-03-3103911898ns10:Director22023-04-012024-03-3103911898ns10:Director32023-04-012024-03-3103911898ns10:CompanySecretary12023-04-012024-03-3103911898ns10:RegisteredOffice2023-04-012024-03-3103911898ns5:CurrentFinancialInstruments2024-03-3103911898ns5:CurrentFinancialInstruments2023-03-3103911898ns5:Non-currentFinancialInstruments2024-03-3103911898ns5:Non-currentFinancialInstruments2023-03-3103911898ns5:ShareCapital2024-03-3103911898ns5:ShareCapital2023-03-3103911898ns5:CapitalRedemptionReserve2024-03-3103911898ns5:CapitalRedemptionReserve2023-03-3103911898ns5:RetainedEarningsAccumulatedLosses2024-03-3103911898ns5:RetainedEarningsAccumulatedLosses2023-03-3103911898ns5:PlantMachinery2023-04-012024-03-3103911898ns5:FurnitureFittings2023-04-012024-03-3103911898ns5:MotorVehicles2023-04-012024-03-3103911898ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103911898ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103911898ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3103911898ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3103911898ns5:HirePurchaseContracts2024-03-3103911898ns5:HirePurchaseContracts2023-03-3103911898ns5:WithinOneYear2024-03-3103911898ns5:WithinOneYear2023-03-3103911898ns5:BetweenOneFiveYears2024-03-3103911898ns5:BetweenOneFiveYears2023-03-3103911898ns5:AllPeriods2024-03-3103911898ns5:AllPeriods2023-03-3103911898ns5:Secured2024-03-3103911898ns5:Secured2023-03-31
REGISTERED NUMBER: 03911898 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

POWER JOINTING AND DISTRIBUTION
SERVICES LIMITED

POWER JOINTING AND DISTRIBUTION
SERVICES LIMITED (REGISTERED NUMBER: 03911898)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


POWER JOINTING AND DISTRIBUTION
SERVICES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: S C Beveridge
Miss R S Beveridge
D C Beveridge



SECRETARY: Miss W Swadling



REGISTERED OFFICE: 12 Harriott Drive
Heathcote Industrial Estate
Warwick
Warwickshire
CV34 6TJ



REGISTERED NUMBER: 03911898 (England and Wales)



BANKERS: Lloyds Bank PLC
73 The Parade
Leamington Spa
Warwickshire
CV32 4BB

POWER JOINTING AND DISTRIBUTION
SERVICES LIMITED (REGISTERED NUMBER: 03911898)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 649,943 180,296

CURRENT ASSETS
Stocks 50,031 396,623
Debtors 472,370 539,268
Cash at bank 1,070,128 2,287,825
1,592,529 3,223,716
CREDITORS
Amounts falling due within one year 1,205,835 2,600,884
NET CURRENT ASSETS 386,694 622,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,036,637

803,128

CREDITORS
Amounts falling due after more than one year (466,550 ) (403,267 )

PROVISIONS FOR LIABILITIES (154,932 ) (28,244 )
NET ASSETS 415,155 371,617

CAPITAL AND RESERVES
Called up share capital 168 156
Capital redemption reserve 70 70
Retained earnings 414,917 371,391
SHAREHOLDERS' FUNDS 415,155 371,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

POWER JOINTING AND DISTRIBUTION
SERVICES LIMITED (REGISTERED NUMBER: 03911898)

ABRIDGED BALANCE SHEET - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





S C Beveridge - Director


POWER JOINTING AND DISTRIBUTION
SERVICES LIMITED (REGISTERED NUMBER: 03911898)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Power Jointing and Distribution Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and is rounded to the nearest £1.

Turnover
Turnover comprises the value of sales (excluding value added tax, similar taxes and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when the goods are despatched, which is the same day on which the goods are delivered and hence is the point at which the risks and rewards of ownership passes to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures, fittings and equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


POWER JOINTING AND DISTRIBUTION
SERVICES LIMITED (REGISTERED NUMBER: 03911898)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 362,788
Additions 544,958
At 31 March 2024 907,746
DEPRECIATION
At 1 April 2023 182,492
Charge for year 75,311
At 31 March 2024 257,803
NET BOOK VALUE
At 31 March 2024 649,943
At 31 March 2023 180,296

POWER JOINTING AND DISTRIBUTION
SERVICES LIMITED (REGISTERED NUMBER: 03911898)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 298,873
Additions 525,492
Transfer to ownership (89,100 )
At 31 March 2024 735,265
DEPRECIATION
At 1 April 2023 127,060
Charge for year 61,275
Transfer to ownership (60,908 )
At 31 March 2024 127,427
NET BOOK VALUE
At 31 March 2024 607,838
At 31 March 2023 171,813

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 131,843 61,890
Between one and five years 389,868 94,755
521,711 156,645

Non-cancellable operating leases
2024 2023
£    £   
Within one year 30,475 1,227
Between one and five years 85,664 -
116,139 1,227

POWER JOINTING AND DISTRIBUTION
SERVICES LIMITED (REGISTERED NUMBER: 03911898)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 141,217 411,326
Hire purchase contracts 521,711 156,645
662,928 567,971

The bank overdraft is secured by a personal guarantee given by S C Beveridge.

The hire purchase creditor is secured on the asset concerned.

There is a cross guarantee in place with the parent company, PJDS Holdings Limited.

7. PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of the director and certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £168,145 (2023 - £177,053). At the year end there was a balance outstanding of £Nil (2023 - £Nil).

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.