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Company Registration No. 11890910 (England and Wales)
PJW Homes Limited Unaudited accounts for the year ended 31 March 2024
PJW Homes Limited Unaudited accounts Contents
Page
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PJW Homes Limited Company Information for the year ended 31 March 2024
Directors
P J Watson J F Watson
Company Number
11890910 (England and Wales)
Registered Office
20 CHARITY FARM CHASE BILLERICAY ESSEX CM12 9LF ENGLAND
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PJW Homes Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
579,460 
580,411 
Current assets
Cash at bank and in hand
19,344 
17,511 
Creditors: amounts falling due within one year
(509,028)
(519,878)
Net current liabilities
(489,684)
(502,367)
Total assets less current liabilities
89,776 
78,044 
Creditors: amounts falling due after more than one year
(111,736)
(111,736)
Net liabilities
(21,960)
(33,692)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(21,962)
(33,694)
Shareholders' funds
(21,960)
(33,692)
For the year ending 31 March 2024 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 1 August 2024 and were signed on its behalf by
J F Watson Director Company Registration No. 11890910
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PJW Homes Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
PJW Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 11890910. The registered office is 20 CHARITY FARM CHASE, BILLERICAY, ESSEX, CM12 9LF, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Computer equipment
2% straight line
3.1 Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss , unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
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PJW Homes Limited Notes to the Accounts for the year ended 31 March 2024
3.2 Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet 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. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
4
Tangible fixed assets
Land & buildings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
579,147 
3,792 
582,939 
Additions
- 
470 
470 
At 31 March 2024
579,147 
4,262 
583,409 
Depreciation
At 1 April 2023
- 
2,528 
2,528 
Charge for the year
- 
1,421 
1,421 
At 31 March 2024
- 
3,949 
3,949 
Net book value
At 31 March 2024
579,147 
313 
579,460 
At 31 March 2023
579,147 
1,264 
580,411 
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PJW Homes Limited Notes to the Accounts for the year ended 31 March 2024
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
741 
Loans from directors
508,778 
518,887 
Accruals
250 
250 
509,028 
519,878 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
111,736 
111,736 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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