IRIS Accounts Production v24.3.2.46 01959590 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh019595902023-05-31019595902024-05-31019595902023-06-012024-05-31019595902022-05-31019595902022-06-012023-05-31019595902023-05-3101959590ns15:EnglandWales2023-06-012024-05-3101959590ns14:PoundSterling2023-06-012024-05-3101959590ns10:Director12023-06-012024-05-3101959590ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3101959590ns10:SmallEntities2023-06-012024-05-3101959590ns10:AuditExemptWithAccountantsReport2023-06-012024-05-3101959590ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3101959590ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3101959590ns10:FullAccounts2023-06-012024-05-310195959012023-06-012024-05-3101959590ns10:Director22023-06-012024-05-3101959590ns10:Director32023-06-012024-05-3101959590ns10:RegisteredOffice2023-06-012024-05-3101959590ns5:CurrentFinancialInstruments2024-05-3101959590ns5:CurrentFinancialInstruments2023-05-3101959590ns5:Non-currentFinancialInstruments2024-05-3101959590ns5:Non-currentFinancialInstruments2023-05-3101959590ns5:ShareCapital2024-05-3101959590ns5:ShareCapital2023-05-3101959590ns5:RetainedEarningsAccumulatedLosses2024-05-3101959590ns5:RetainedEarningsAccumulatedLosses2023-05-3101959590ns5:NetGoodwill2023-06-012024-05-3101959590ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3101959590ns5:PlantMachinery2023-06-012024-05-3101959590ns5:FurnitureFittings2023-06-012024-05-3101959590ns5:MotorVehicles2023-06-012024-05-3101959590ns5:NetGoodwill2023-05-3101959590ns5:NetGoodwill2024-05-3101959590ns5:NetGoodwill2023-05-3101959590ns5:PlantMachinery2023-05-3101959590ns5:FurnitureFittings2023-05-3101959590ns5:MotorVehicles2023-05-3101959590ns5:PlantMachinery2024-05-3101959590ns5:FurnitureFittings2024-05-3101959590ns5:MotorVehicles2024-05-3101959590ns5:PlantMachinery2023-05-3101959590ns5:FurnitureFittings2023-05-3101959590ns5:MotorVehicles2023-05-3101959590ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3101959590ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3101959590ns5:CurrentFinancialInstruments2023-06-012024-05-31
REGISTERED NUMBER: 01959590 (England and Wales)






















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: Mr T Brader
Mr C R Jackson





REGISTERED OFFICE: The Potato Store
Firsby
Lincoln
Lincolnshire
PE23 5QS





REGISTERED NUMBER: 01959590 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY


9 January 2025

PJP Foods Services Limited (Registered number: 01959590)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 46,933 28,228
46,933 28,228

CURRENT ASSETS
Stocks 230,550 228,844
Debtors 6 258,971 212,798
Cash at bank and in hand 21,552 37,176
511,073 478,818
CREDITORS
Amounts falling due within one year 7 287,656 268,432
NET CURRENT ASSETS 223,417 210,386
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,350

238,614

CREDITORS
Amounts falling due after more than one
year

8

(39,485

)

(42,584

)

PROVISIONS FOR LIABILITIES (11,734 ) (7,057 )
NET ASSETS 219,131 188,973

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 218,131 187,973
219,131 188,973

PJP Foods Services Limited (Registered number: 01959590)

Balance Sheet - continued
31 May 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2025 and were signed on its behalf by:





Mr C R Jackson - Director


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 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

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 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 6,500
AMORTISATION
At 1 June 2023
and 31 May 2024 6,500
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 49,811 4,075 58,095 111,981
Additions - - 30,495 30,495
Disposals - - (7,445 ) (7,445 )
At 31 May 2024 49,811 4,075 81,145 135,031
DEPRECIATION
At 1 June 2023 45,177 3,818 34,758 83,753
Charge for year 1,159 221 8,754 10,134
Eliminated on disposal - - (5,789 ) (5,789 )
At 31 May 2024 46,336 4,039 37,723 88,098
NET BOOK VALUE
At 31 May 2024 3,475 36 43,422 46,933
At 31 May 2023 4,634 257 23,337 28,228

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 224,677 194,737
Other debtors 34,294 18,061
258,971 212,798

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 11,548 6,167
Trade creditors 253,540 240,658
Taxation and social security 14,136 13,830
Other creditors 2,876 2,221
287,656 268,432

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 27,778 33,334
Hire purchase contracts 11,707 9,250
39,485 42,584

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)