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REGISTERED NUMBER: SC342128 (Scotland)












Financial Statements

for the Year Ended 30 June 2024

for

PJW Cards Limited

PJW Cards Limited (Registered number: SC342128)






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


PJW Cards Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: P J Waters





SECRETARY: Mrs K Waters





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC342128 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

PJW Cards Limited (Registered number: SC342128)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 3 7,906,042 8,014,652
Investment property 4 5,098,503 6,151,789
13,004,545 14,166,441

CURRENT ASSETS
Inventories 5 583,596 646,570
Debtors 6 1,001,518 797,485
Cash at bank and in hand 387,703 187,919
1,972,817 1,631,974
CREDITORS
Amounts falling due within one year 7 1,870,719 1,436,229
NET CURRENT ASSETS 102,098 195,745
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,106,643

14,362,186

CREDITORS
Amounts falling due after more than one year 8 (2,982,352 ) (4,760,372 )

PROVISIONS FOR LIABILITIES 11 (882,543 ) (915,506 )
NET ASSETS 9,241,748 8,686,308

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 12 3,059,156 3,045,428
Retained earnings 6,181,592 5,639,880
SHAREHOLDERS' FUNDS 9,241,748 8,686,308

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 director acknowledges his 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.

PJW Cards Limited (Registered number: SC342128)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





P J Waters - Director


PJW Cards Limited (Registered number: SC342128)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. 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 as modified by the revaluation of certain assets.

Going concern
The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the provision of goods, excluding value added tax and trade discounts. Income is also received from the renting of commercial units.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories
Inventories 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 Income Statement, 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.

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.

PJW Cards Limited (Registered number: SC342128)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

1. ACCOUNTING POLICIES - continued

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.

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

3. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 July 2023 7,890,586 373,155 50,673 8,314,414
Additions 23,263 3,398 - 26,661
Disposals - (75,779 ) - (75,779 )
At 30 June 2024 7,913,849 300,774 50,673 8,265,296
DEPRECIATION
At 1 July 2023 54,905 198,573 46,284 299,762
Charge for year 54,905 10,989 2,694 68,588
Eliminated on disposal - (9,096 ) - (9,096 )
At 30 June 2024 109,810 200,466 48,978 359,254
NET BOOK VALUE
At 30 June 2024 7,804,039 100,308 1,695 7,906,042
At 30 June 2023 7,835,681 174,582 4,389 8,014,652

PJW Cards Limited (Registered number: SC342128)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. PROPERTY, PLANT AND EQUIPMENT - continued

Cost or valuation at 30 June 2024 is represented by:

Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
Valuation in 2009 1,015,913 - - 1,015,913
Valuation in 2014 (410,000 ) - - (410,000 )
Valuation in 2016 700,000 - - 700,000
Valuation in 2017 110,000 - - 110,000
Valuation in 2022 200,000 - - 200,000
Cost 6,297,936 300,774 50,673 6,649,383
7,913,849 300,774 50,673 8,265,296

Freehold properties were valued on an open market basis on 22 September 2021 by DM Hall .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 6,151,789
Additions 448,503
Disposals (1,501,789 )
At 30 June 2024 5,098,503
NET BOOK VALUE
At 30 June 2024 5,098,503
At 30 June 2023 6,151,789

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2009 842,994
Valuation in 2012 49,200
Valuation in 2014 (690,000 )
Valuation in 2016 255,000
Valuation in 2017 315,000
Valuation in 2018 650,000
Valuation in 2022 500,000
Cost 3,176,309
5,098,503

Investment property was valued on an open market basis on 22 September 2021 by DM Hall .

PJW Cards Limited (Registered number: SC342128)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. INVENTORIES
2024 2023
£    £   
Stocks 583,596 646,570

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 910,723 711,130
Other debtors 90,795 86,355
1,001,518 797,485

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 97,946 112,510
Trade creditors 1,166,896 926,746
Taxation and social security 512,365 315,739
Other creditors 93,512 81,234
1,870,719 1,436,229

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 2,982,352 4,760,372

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 97,946 112,510

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,982,352 4,760,372

10. SECURED DEBTS

The company's banker holds a floating charge over the assets of the company together with standard security over the freehold and investment properties.

PJW Cards Limited (Registered number: SC342128)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 882,543 915,506

Deferred
tax
£   
Balance at 1 July 2023 915,506
Provided during year (32,963 )
Balance at 30 June 2024 882,543

12. RESERVES
Revaluation
reserve
£   
At 1 July 2023 3,045,428
Deferred tax movement 13,728

At 30 June 2024 3,059,156

13. RELATED PARTY DISCLOSURES

During the year, the director and his wife received dividends of £300,000.