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REGISTERED NUMBER: 00346797 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

P.J.AYRES & SON LIMITED

P.J.AYRES & SON LIMITED (REGISTERED NUMBER: 00346797)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P.J.AYRES & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: A J Harman
M J Ayres





SECRETARY: A J Harman





REGISTERED OFFICE: Victoria House
26 Queen Victoria Street
Reading
Berkshire
RG1 1TG





REGISTERED NUMBER: 00346797 (England and Wales)

P.J.AYRES & SON LIMITED (REGISTERED NUMBER: 00346797)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,200,000 1,200,000

CURRENT ASSETS
Debtors 5 16,752 11,095
Cash at bank 184,469 171,205
201,221 182,300
CREDITORS
Amounts falling due within one year 6 35,843 33,895
NET CURRENT ASSETS 165,378 148,405
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,365,378

1,348,405

PROVISIONS FOR LIABILITIES 81,188 81,188
NET ASSETS 1,284,190 1,267,217

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Share premium 8 54,600 54,600
Capital redemption reserve 8 14,967 14,967
Retained earnings 8 1,213,623 1,196,650
SHAREHOLDERS' FUNDS 1,284,190 1,267,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

P.J.AYRES & SON LIMITED (REGISTERED NUMBER: 00346797)

BALANCE SHEET - continued
30 JUNE 2024


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 Proft and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





A J Harman - Director


P.J.AYRES & SON LIMITED (REGISTERED NUMBER: 00346797)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

P.J. Ayres & Son Limited is a private Company, limited by shares, incorporated in England and Wales, registration number 00346797. The registered office address is Victoria House, 26 Queen Victoria Street, Reading RG1 1TG.

The principal activity of the Company during the year was that of renting out investment property.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting
Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The financial statements are prepared in pounds sterling (£) and figures are rounded to the nearest £.

The following principal accounting policies have been applied:

Going concern
The directors of the Company have a reasonable expectation that the company has adequate
resources to continue in operational existence for the foreseeable future and are satisfied that the
company can continue to pay its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical evidence and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Due to the nature of the company, the only area where there are significant judgments which would affect the amounts recognised in the financial statements is the valuation of properties. This has been recognised based on market conditions and external information.

Turnover
Turnover represents rents receivable from properties held by the company during the year.

P.J.AYRES & SON LIMITED (REGISTERED NUMBER: 00346797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is carried at fair value determined annually by the directors or professional valuers 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. Changes in fair value are recognised in the Statement of income and retained earnings.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Interest income
Interest income is recognised in the Statement of income and retained earnings using the effective interest method.


P.J.AYRES & SON LIMITED (REGISTERED NUMBER: 00346797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense
recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not
reversed by the Statement of financial position date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,200,000
NET BOOK VALUE
At 30 June 2024 1,200,000
At 30 June 2023 1,200,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2020 1,105,973
Cost 94,027
1,200,000

P.J.AYRES & SON LIMITED (REGISTERED NUMBER: 00346797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INVESTMENT PROPERTY - continued

The investment property has been valued on an open market basis for existing use by the directors as at the balance sheet date. The last independent professional valuation was obtained in 2020.

If the Investment properties had been accounted for under the historic cost accounting rules, the
properties would have been measured as follows:
30.6.24 30.6.23
£    £   
Historic cost 94,027 94,027

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 2,250 2,000
Other debtors 14,502 9,095
16,752 11,095

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 17,472 15,978
Other creditors 18,371 17,917
35,843 33,895

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

8. RESERVES

Share premium account
The share premium account includes the premium on issue of equity shares, net of any issue costs.

Capital redemption reserve
The capital redemption reserve contains the nominal value of own shares that have been acquired by the company and cancelled.

Profit and loss account
Of the total profit and loss reserves, £1,024,785 (2023: £1,024,785) related to the cumulative surplus after allowance for deferred tax to the investment property and is non-distributable.

P.J.AYRES & SON LIMITED (REGISTERED NUMBER: 00346797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. RELATED PARTY DISCLOSURES

During the year dividends of £35,000 (2023: £34,000) were paid to the directors and shareholders of the company.

Other debtors include a loan advance of £5,142 (2023: £5,142) to a shareholder. The loan is interest free and repayable on demand.