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COMPANY REGISTRATION NUMBER: 10341680
PJM Investing Limited
Filleted Unaudited Financial Statements
31 August 2024
PJM Investing Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Current assets
Debtors
5
815,000
815,000
Cash at bank and in hand
2,522
2,522
---------
---------
817,522
817,522
Creditors: amounts falling due within one year
6
820,700
820,200
---------
---------
Net current liabilities
3,178
2,678
---------
---------
Total assets less current liabilities
( 3,178)
( 2,678)
---------
---------
Net liabilities
( 3,178)
( 2,678)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 3,179)
( 2,679)
---------
---------
Shareholder deficit
( 3,178)
( 2,678)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 April 2025 , and are signed on behalf of the board by:
Mr P S Tank
Director
Company registration number: 10341680
PJM Investing Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 Waterloo Road, Wolverhampton, West Midlands, WV1 4DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Debtors
2024
2023
£
£
Other debtors
815,000
815,000
---------
---------
During a previous year the company made loan advances to 2020 Living Limited, a company incorporated in the UK, for the purposes of property development.The loans are repayable upon completion and sale of the development and are secured by personal guarantees of one of the directors of 2020 Living Limited.
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
820,700
820,200
---------
---------
7. Director's advances, credits and guarantees
The amounts due to the director at the year end was £249,400 (2022 - £249,400).