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Registered number: 8385508
PJL Group Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
M W Accounting Ltd
Unit 5 Basepoint
Caxton Close
Andover
Hampshire
SP10 3FG
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 8385508
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 99,410 78,697
Investment Properties 6 340,057 340,057
439,467 418,754
CURRENT ASSETS
Debtors 51,709 105,410
Cash at bank and in hand 393,597 261,808
445,306 367,218
Creditors: Amounts Falling Due Within One Year (104,136 ) (118,582 )
NET CURRENT ASSETS (LIABILITIES) 341,170 248,636
TOTAL ASSETS LESS CURRENT LIABILITIES 780,637 667,390
NET ASSETS 780,637 667,390
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 780,635 667,388
SHAREHOLDERS' FUNDS 780,637 667,390
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Paul Pettifor
Director
28 December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
PJL Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 8385508 . The registered office is Lyndale, Sherfield Road, Bramley, Tadley, RG26 5AQ.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 25% Reducing balance
Motor Vehicles 25% Reducing balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 year 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.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 3
3 3
4. Intangible Assets
Total
£
Cost
As at 1 April 2023 10,500
As at 31 March 2024 10,500
Amortisation
As at 1 April 2023 10,500
As at 31 March 2024 10,500
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Total
£
Cost
As at 1 April 2023 174,577
Additions 120,108
Disposals (66,258 )
As at 31 March 2024 228,427
Depreciation
As at 1 April 2023 95,880
Provided during the period 49,702
Disposals (16,565 )
As at 31 March 2024 129,017
Net Book Value
As at 31 March 2024 99,410
As at 1 April 2023 78,697
6. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 340,057
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7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Paul Pettifor 37,580 40,000
9. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 75,160 80,000
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr P Pettifor by virtue of his ownership of 100% of the issued share capital in the company.
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