Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 SC206871 Julie Smith Scott Cherry Kenneth O'Doherty Julie Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC206871 2023-05-31 SC206871 2024-05-31 SC206871 2023-06-01 2024-05-31 SC206871 frs-core:CurrentFinancialInstruments 2024-05-31 SC206871 frs-core:Non-currentFinancialInstruments 2024-05-31 SC206871 frs-core:ComputerEquipment 2024-05-31 SC206871 frs-core:ComputerEquipment 2023-06-01 2024-05-31 SC206871 frs-core:ComputerEquipment 2023-05-31 SC206871 frs-core:FurnitureFittings 2024-05-31 SC206871 frs-core:FurnitureFittings 2023-06-01 2024-05-31 SC206871 frs-core:FurnitureFittings 2023-05-31 SC206871 frs-core:MotorVehicles 2024-05-31 SC206871 frs-core:MotorVehicles 2023-06-01 2024-05-31 SC206871 frs-core:MotorVehicles 2023-05-31 SC206871 frs-core:PlantMachinery 2024-05-31 SC206871 frs-core:PlantMachinery 2023-06-01 2024-05-31 SC206871 frs-core:PlantMachinery 2023-05-31 SC206871 frs-core:ShareCapital 2024-05-31 SC206871 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC206871 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC206871 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 SC206871 frs-bus:SmallEntities 2023-06-01 2024-05-31 SC206871 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC206871 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC206871 frs-bus:Director1 2023-06-01 2024-05-31 SC206871 frs-bus:Director1 2023-05-31 SC206871 frs-bus:Director1 2024-05-31 SC206871 frs-bus:Director2 2023-06-01 2024-05-31 SC206871 frs-bus:Director3 2023-06-01 2024-05-31 SC206871 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 SC206871 frs-countries:Scotland 2023-06-01 2024-05-31 SC206871 2022-05-31 SC206871 2023-05-31 SC206871 2022-06-01 2023-05-31 SC206871 frs-core:CurrentFinancialInstruments 2023-05-31 SC206871 frs-core:Non-currentFinancialInstruments 2023-05-31 SC206871 frs-core:ShareCapital 2023-05-31 SC206871 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: SC206871
PJ'S FOODS LIMITED
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC206871
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 328,506 258,167
328,506 258,167
CURRENT ASSETS
Stocks 5 205,975 146,000
Debtors 6 692,664 937,385
Cash at bank and in hand 621,186 288,385
1,519,825 1,371,770
Creditors: Amounts Falling Due Within One Year 7 (761,560 ) (751,974 )
NET CURRENT ASSETS (LIABILITIES) 758,265 619,796
TOTAL ASSETS LESS CURRENT LIABILITIES 1,086,771 877,963
Creditors: Amounts Falling Due After More Than One Year 8 (64,078 ) (89,750 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (82,127 ) (64,542 )
NET ASSETS 940,566 723,671
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 940,564 723,669
SHAREHOLDERS' FUNDS 940,566 723,671
Page 1
Page 2
For the year ending 31 May 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Scott Cherry
Director
31 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PJ'S FOODS LIMITED is a private company, limited by shares, incorporated in Scotland, registered number SC206871 . The registered office is Unit 1,Chapel Street, Industrial Estate, Maryhill, Glasgow, G20 9BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 33.33% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement
constitutes a financing transaction, where it is recognised at the present value of the future payments
discounted at a market rate of interest for a similar debt instrument.
2.7. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 84 (2023: 83)
84 83
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 311,535 323,640 53,376 4,657 693,208
Additions 71,588 137,130 5,944 860 215,522
Disposals (20,736 ) (89,520 ) - (1,539 ) (111,795 )
As at 31 May 2024 362,387 371,250 59,320 3,978 796,935
Depreciation
As at 1 June 2023 243,267 159,173 28,993 3,608 435,041
Provided during the period 31,577 97,813 9,445 907 139,742
Disposals (20,736 ) (84,079 ) - (1,539 ) (106,354 )
As at 31 May 2024 254,108 172,907 38,438 2,976 468,429
Net Book Value
As at 31 May 2024 108,279 198,343 20,882 1,002 328,506
As at 1 June 2023 68,268 164,467 24,383 1,049 258,167
5. Stocks
2024 2023
£ £
Stock 205,975 146,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 455,249 684,619
Amounts owed by participating interests 140,000 140,000
Other debtors 97,415 112,766
692,664 937,385
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 75,753 54,112
Trade creditors 353,134 433,646
Bank loans and overdrafts 44,444 44,445
Other creditors 104,690 93,278
Taxation and social security 183,539 126,493
761,560 751,974
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 64,078 45,306
Bank loans - 44,444
64,078 89,750
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Scott Cherry 827 3,575 (827 ) - 3,575
The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
There is a loan balance due from S & J Properties (Scotland) Limited at 31 May 2024 for the amount of
£140,000. The companies are related by virtue of common shareholdings. This loan is on an interest
free basis.
Page 5