REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
for |
PJP Foods Services Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
for |
PJP Foods Services Limited |
PJP Foods Services Limited (Registered number: 01959590) |
Contents of the Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
PJP Foods Services Limited |
Company Information |
for the Year Ended 31 May 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Business Advisers |
Alexandra House |
43 Alexandra St |
Nottingham |
Nottinghamshire |
NG5 1AY |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
PJP Foods Services Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PJP Foods Services Limited for the year ended 31 May 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of PJP Foods Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PJP Foods Services Limited and state those matters that we have agreed to state to the Board of Directors of PJP Foods Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PJP Foods Services Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that PJP Foods Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PJP Foods Services Limited. You consider that PJP Foods Services Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of PJP Foods Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants & Business Advisers |
Alexandra House |
43 Alexandra St |
Nottingham |
Nottinghamshire |
NG5 1AY |
PJP Foods Services Limited (Registered number: 01959590) |
Balance Sheet |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
PJP Foods Services Limited (Registered number: 01959590) |
Balance Sheet - continued |
31 May 2024 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PJP Foods Services Limited (Registered number: 01959590) |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
PJP Foods Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentation currency of the financial statements is the Pound Sterling (£). |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the sale of goods is recognised when the significant risk and rewards of the ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliability; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
Goodwill |
Goodwill arises on business acquisitions and represents the excess of the costs of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. |
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over it's useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
PJP Foods Services Limited (Registered number: 01959590) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 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. |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
AMORTISATION |
At 1 June 2023 |
and 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
PJP Foods Services Limited (Registered number: 01959590) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
A guarantee of £10,000 in respect of the bank borrowing has been given by Paul Jackson Potatoes Limited. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 5,556 | 5,556 |
9. | RELATED PARTY DISCLOSURES |
During the year the company traded with Paul Jackson Potatoes Limited, a company in which Mr C R Jackson is a director and shareholder. The company also traded with Posh Spuds & Co, a business which is Mr C R Jackson's. Transactions were as follows: |
Purchases from Paul Jackson Potatoes Limited, £224,953 (2023: £299,289) |
At the year end, the company had the following related party balances: |
Amounts owed from Paul Jackson Potatoes Limited, £32,727 (2023: £15,223) |
Amounts owed from Posh Spuds & Co £79 (2023: £79) |