REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2024 |
for |
P and J Futures Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2024 |
for |
P and J Futures Limited |
P and J Futures Limited (Registered number: 11700159) |
Contents of the Financial Statements |
for the Year Ended 30 November 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
P and J Futures Limited |
Company Information |
for the Year Ended 30 November 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Abacus House |
Pennine Business Park |
Longbow Close |
Huddersfield |
West Yorkshire |
HD2 1GQ |
P and J Futures Limited (Registered number: 11700159) |
Balance Sheet |
30 November 2024 |
30.11.24 | 30.11.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 and J Futures Limited (Registered number: 11700159) |
Balance Sheet - continued |
30 November 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
P and J Futures Limited (Registered number: 11700159) |
Notes to the Financial Statements |
for the Year Ended 30 November 2024 |
1. | STATUTORY INFORMATION |
P and J Futures Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 estimated useful lives on the following bases: |
Fixtures and fittings | - 20% on reducing balance |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
P and J Futures Limited (Registered number: 11700159) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 December 2023 |
and 30 November 2024 |
DEPRECIATION |
At 1 December 2023 |
Charge for year |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2023 |
and 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
The directors have assessed the fair value of investment property. The valuation has been made on an open market basis by reference to similar properties. The original cost of all investment properties was £340,647 (2023 - £340,647). The directors are satisfied with the valuation of investment property. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Deferred tax asset |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Amounts owed to associates | 46,013 | 46,013 |
Directors' loan accounts | 224,028 | 195,448 |
Accruals and deferred income |
P and J Futures Limited (Registered number: 11700159) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Bank loans (see note 9) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans - Over 5 years | 57,318 | 74,999 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
30.11.24 | 30.11.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans - Over 5 years | 57,318 | 74,999 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.24 | 30.11.23 |
£ | £ |
Bank loans |
Bank loans totalling £108,855 (2022 - £142,038) are secured by a fixed charge over the company's investment property. |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Included in creditors: amounts falling due within one year is a loan from the directors of £224,028 (2023 - £195,448). The loan is interest free with no fixed date for repayment. |
12. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company owed £46,013 (2023 - £46,013) to S.I.S. Executive Limited. The directors of P and J Futures Limited are also directors of S.I.S. Executive Limited. |
13. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs H M Lownds. |