Company registration number 10756931 (England and Wales)
PJMWSERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
PJMWSERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PJMWSERVICES LIMITED (REGISTERED NUMBER: 10756931)
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,311
2,532
Investment property
4
170,000
165,000
172,311
167,532
Current assets
Debtors
5
334
Cash at bank and in hand
708
26,888
1,042
26,888
Creditors: amounts falling due within one year
6
(37,012)
(61,391)
Net current liabilities
(35,970)
(34,503)
Total assets less current liabilities
136,341
133,029
Creditors: amounts falling due after more than one year
7
(91,511)
(91,502)
Provisions for liabilities
(7,025)
(6,316)
Net assets
37,805
35,211
Capital and reserves
Called up share capital
1
1
Non-distributable profits reserve
8
31,169
26,878
Distributable profit and loss reserves
6,635
8,332
Total equity
37,805
35,211
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PJMWSERVICES LIMITED (REGISTERED NUMBER: 10756931)
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 February 2025 and are signed on its behalf by:
Mr P Jalkiewicz
Director
PJMWSERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
PJMWServices Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Square, Wrotham, Sevenoaks, Kent, TN15 7AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the rental income provided in the normal course of business. The following criteria must also be met before turnover is recognised.
Turnover from a contract to provide services is recognised in the period in which the rental services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
The amount of turnover can be measured reliably
It is probable that the company will receive thee consideration due under the contract
The stage of completion of the contract at the end of the reporting period can be measured reliably; and
The costs incurred and the costs to complete the contract can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Investment property is not subject to depreciation.
PJMWSERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Computers
£
Cost
At 1 June 2023
3,209
Additions
430
At 31 May 2024
3,639
Depreciation and impairment
At 1 June 2023
677
Depreciation charged in the year
651
At 31 May 2024
1,328
Carrying amount
At 31 May 2024
2,311
At 31 May 2023
2,532
PJMWSERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
4
Investment property
2024
£
Fair value
At 1 June 2023
165,000
Revaluations
5,000
At 31 May 2024
170,000
Investment property comprises property at fair value of £170,000. The fair value of the investment propertyy has been arrived at on the basis of a valuation carried out by the directors' best estimate. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
334
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
972
Other creditors
37,012
60,419
37,012
61,391
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
91,511
91,502
The bank loans are secured against the properties in the company's name by way of a fixed and floating charge.
PJMWSERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
8
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
26,878
42,974
Non distributable profits in the year
4,291
(16,096)
At the end of the year
31,169
26,878