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Registration number: 05818961

PJL Healthcare Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

PJL Healthcare Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 14

 

PJL Healthcare Limited

Company Information

Directors

J J Thomas

L A Thompson

P Sellars

A I Cook

K Jeffries

Registered office

Mayfield House
East Street
Mayfield
East Sussex
TN20 6TZ

Accountants

Redshield Business Solutions Limited
Chartered AccountantsSuite 3, 1 - 3 Warren Court
Park Road
Crowborough
East Sussex
TN6 2QX

 

PJL Healthcare Limited

(Registration number: 05818961)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

2,539,713

2,556,170

 

2,539,714

2,556,171

Current assets

 

Debtors

6

225,372

237,261

Cash at bank and in hand

 

1,060,384

884,263

 

1,285,756

1,121,524

Creditors: Amounts falling due within one year

7

(1,071,360)

(820,977)

Net current assets

 

214,396

300,547

Total assets less current liabilities

 

2,754,110

2,856,718

Creditors: Amounts falling due after more than one year

7

(465,000)

(653,500)

Net assets

 

2,289,110

2,203,218

Capital and reserves

 

Called up share capital

8

2

2

Revaluation reserve

777,824

777,824

Retained earnings

1,511,284

1,425,392

Shareholders' funds

 

2,289,110

2,203,218

 

PJL Healthcare Limited

(Registration number: 05818961)
Balance Sheet as at 31 December 2024 (continued)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 6 May 2025 and signed on its behalf by:
 

A I Cook
Director

   
     
 

PJL Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Mayfield House
East Street
Mayfield
East Sussex
TN20 6TZ
England

These financial statements were authorised for issue by the Board on 6 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

PJL Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Not depreciated

Freehold Buildings

2% on cost or valuation

Fixtures & Fittings

33.3% straight line

Motor Vehicles

25% straight line

 

PJL Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Fully amortised

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

PJL Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 86 (2023 - 84).

 

PJL Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

1

1

At 31 December 2024

1

1

Amortisation

Carrying amount

At 31 December 2024

1

1

At 31 December 2023

1

1

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

2,747,536

111,707

74,670

2,933,913

Additions

-

-

74,295

74,295

Disposals

-

-

(11,839)

(11,839)

At 31 December 2024

2,747,536

111,707

137,126

2,996,369

Depreciation

At 1 January 2024

253,537

90,452

33,754

377,743

Charge for the year

46,010

20,915

23,827

90,752

Eliminated on disposal

-

-

(11,839)

(11,839)

At 31 December 2024

299,547

111,367

45,742

456,656

Carrying amount

At 31 December 2024

2,447,989

340

91,384

2,539,713

At 31 December 2023

2,493,999

21,255

40,916

2,556,170

 

PJL Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Tangible assets (continued)

Included within the net book value of land and buildings above is £2,447,988 (2023 - £2,493,999) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Land and buildings was revalued on 16 January 2018 by an independent valuer.
The basis of this valuation was open market basis. The name and qualification of the independent valuer are Neil Oxford MRICS, on behalf of Christie & Co

A subsquent valuation was carried out on 27 July 2023 by Neil Oxford MRICS & Andy Topham MRICS, on behalf of Christie & Co. The carrying value of the assets were not materially different to the valuation and have therefore not been revalued in the accounts.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,525,240 (2023 - £1,551,240).

6

Debtors

Current

2024
£

2023
£

Trade debtors

139,692

154,642

Prepayments

80,709

82,250

Other debtors

4,971

369

 

225,372

237,261

 

PJL Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

60,000

67,411

Trade creditors

 

53,923

85,518

Taxation and social security

 

117,356

103,923

Accruals and deferred income

 

666,877

546,748

Other creditors

 

173,204

17,377

 

1,071,360

820,977

Creditors include bank loans and overdrafts which are secured of £60,000 (2023 - £49,539).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

465,000

653,500

2024
£

2023
£

Due after more than five years

After more than five years by instalments

-

549,500

-

-

Creditors include bank loans and overdrafts which are secured of £465,000 (2023 - £653,500).

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       
 

PJL Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

465,000

653,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

60,000

49,359

Other borrowings

-

18,052

60,000

67,411

Bank borrowings

Handlesbanken Loan is denominated in sterling with a nominal interest rate of 2.67% over LIBOR, and the final instalment is due on 23 July 2029. The carrying amount at year end is £525,000 (2023 - £Nil).

The bank loan is secured by a first legal charge over the Freehold Properties and a debenture over the company's whole assets and undertaking.

 

PJL Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

10

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of Nil per each

-

-

 

 

Interim dividends paid

2024
£

2023
£

Interim dividend of £500.00 (2023 - £2,000.00) per each Ordinary shares

1,000

4,000

 

 

11

Related party transactions

 

PJL Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

11

Related party transactions (continued)

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

P Sellars

Interest free Director's loan to company

8,533

(8,533)

-

-

J J Thomas

Interest free Director's loan to company

9,518

(9,518)

-

-

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

P Sellars

Interest free Director's loan to company

6,288

(13,574)

15,819

8,533

J J Thomas

Interest free Director's loan to company

20,718

(13,200)

2,000

9,518

 

PJL Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

11

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

570,795

406,446

Contributions paid to money purchase schemes

12,013

6,604

582,808

413,050

Dividends paid to directors

2024
£

2023
£

P Sellars

Interim dividend

500

2,000

 

 

J J Thomas

Interim dividend

500

2,000