Company registration number 11549973 (England and Wales)
PJS ONE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PJS ONE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PJS ONE LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
20,404,719
20,404,719
Investments
4
3,260,480
11,102
23,665,199
20,415,821
Current assets
Debtors
5
28,005
51,676
Cash at bank and in hand
14,161,110
15,787,315
14,189,115
15,838,991
Creditors: amounts falling due within one year
6
(895,629)
(1,139,901)
Net current assets
13,293,486
14,699,090
Net assets
36,958,685
35,114,911
Capital and reserves
Called up share capital
7
80,000
80,000
Capital redemption reserve
27,649,724
27,649,724
Profit and loss reserves
9,228,961
7,385,187
Total equity
36,958,685
35,114,911

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 26 June 2025 and are signed on its behalf by:
M Street
Director
Company Registration No. 11549973
PJS ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

PJS One Limited is a private company limited by shares incorporated in England and Wales. The registered office is Buildings & Yard Bunny Lane, Sherfield English, Romsey, Hampshire, United Kingdom, SO51 6FT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

PJS ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.8

Group accounts

The company is part of a small group. The group has taken advantage of the exemption provided by section 398 of the Companies Act 2006 and has not prepared group accounts.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
PJS ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
3
Investment property
2024
£
Fair value
At 1 October 2023 and 30 September 2024
20,404,719
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
3,260,480
11,102
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 October 2023
11,102
Additions
3,249,478
Disposals
(100)
At 30 September 2024
3,260,480
Carrying amount
At 30 September 2024
3,260,480
At 30 September 2023
11,102
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,063
17,511
Other debtors
12,528
1,362
Prepayments and accrued income
-
0
20,389
15,591
39,262
2024
2023
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
12,414
12,414
Total debtors
28,005
51,676
PJS ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
18,306
Amounts owed to group undertakings
11,006
11,106
Corporation tax
198,561
465,703
Other taxation and social security
55,732
58,401
Other creditors
630,330
586,385
895,629
1,139,901
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 10p each
800,000
800,000
80,000
80,000

On 3 July 2023, the company redesignated 319,000,000 'A' Ordinary £0.10 shares to 79,750,000 'C' Ordinary £0.10 shares, 63,800,000 'D' Ordinary £0.10 shares, 111,650,000 'E' Ordinary £0.10 shares and 63,800,000 'F' Ordinary £0.10 shares.

 

On 12 July 2023, as part of the demerger agreement, the company's shareholders agreed a special resolution to reduce the share capital of the company from 319,800,000 shares to 800,000 shares cancelling the C, D, E and F shares (See note 4).

8
Related party transactions

As at 30 September 2024, the company was owed £12,414 (2023: £12,414) by its former subsidiary, PJS Two Limited. There is no interest charged on this loan.

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