PJC Smith Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08438362

PJC Smith Limited

Filleted Unaudited Financial Statements

31 March 2025

PJC Smith Limited

Financial Statements

Year Ended 31st March 2025

Contents	Page

Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements	1

Statement of Financial Position	2

Notes to the Financial Statements	4

PJC Smith Limited

Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of PJC Smith Limited

Year Ended 31st March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PJC Smith Limited for the year ended 31st March 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of PJC Smith Limited in accordance with the terms of our engagement letter dated 11th March 2013. Our work has been undertaken solely to prepare for your approval the financial statements of PJC Smith Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PJC Smith Limited and its director for our work or for this report.

It is your duty to ensure that PJC Smith Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PJC Smith Limited. You consider that PJC Smith Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of PJC Smith Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MJ GREEN ACCOUNTANCY SERVICES LTD Chartered Certified Accountants

Unit 10 Silver End Business Park Brettell Lane Brierley Hill West Midlands DY5 3LG

22 December 2025

PJC Smith Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed Assets

Tangible assets	5	26,898	22,592
Investments	6	4,351	7,333
		--------	--------
		31,249	29,925

Current Assets

Stocks		110,000	140,000
Debtors	7	290,154	274,261
Cash at bank and in hand		166,633	263,748
		---------	---------
		566,787	678,009

Creditors: amounts falling due within one year	8	253,677	351,735
		---------	---------
Net Current Assets		313,110	326,274
		---------	---------
Total Assets Less Current Liabilities		344,359	356,199

Creditors: amounts falling due after more than one year	9	22,259	28,739

Provisions

Deferred tax	4,502	3,050
	---------	---------
Net Assets	317,598	324,410
	---------	---------

Capital and Reserves

Called up share capital	100	100
Profit and loss account	317,498	324,310
	---------	---------
Shareholders Funds	317,598	324,410
	---------	---------

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 income statement has not been delivered.

For the year ending 31st March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- 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 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

PJC Smith Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

P J C Smith
Director

Company registration number: 08438362

PJC Smith Limited

Notes to the Financial Statements

Year Ended 31st March 2025

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 10, Silver End Business Park, Brettell Lane, Brierley Hill, West Midlands, DY5 3LG.

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.

Turnover

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	25% reducing balance
Fixtures & fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. The cost of finished goods and work-in-progress comprises raw materials, direct labour, other direct costs and related production overheads (based on normal operating capacity) but excludes borrowing costs.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. Tangible Assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Office equipment	Total
	£	£	£	£	£
Cost
At 1st April 2024	1,759	1,408	10,704	55,851	69,722
Additions	–	7,328	–	4,933	12,261
	-------	-------	--------	--------	--------
At 31st March 2025	1,759	8,736	10,704	60,784	81,983
	-------	-------	--------	--------	--------
Depreciation
At 1st April 2024	1,101	1,159	4,683	40,187	47,130
Charge for the year	165	1,136	1,505	5,149	7,955
	-------	-------	--------	--------	--------
At 31st March 2025	1,266	2,295	6,188	45,336	55,085
	-------	-------	--------	--------	--------
Carrying amount
At 31st March 2025	493	6,441	4,516	15,448	26,898
	-------	-------	--------	--------	--------
At 31st March 2024	658	249	6,021	15,664	22,592
	-------	-------	--------	--------	--------

6. Investments

	Other investments other than loans
	£
Cost
At 1st April 2024	7,333
Revaluations	( 2,982)
	-------
At 31st March 2025	4,351
	-------
Impairment
At 1st April 2024 and 31st March 2025	–
	-------

Carrying amount
At 31st March 2025	4,351
	-------
At 31st March 2024	7,333
	-------

7. Debtors

	2025	2024
	£	£
Trade debtors	276,568	247,572
Other debtors	13,586	26,689
	---------	---------
	290,154	274,261
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	6,000	5,520
Trade creditors	227,168	308,898
Corporation tax	13,954	11,042
Social security and other taxes	4,179	24,409
Other creditors	2,376	1,866
	---------	---------
	253,677	351,735
	---------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	22,259	28,739
	--------	--------

10. Deferred Tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	4,502	3,050
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	4,502	3,050
	-------	-------

11. Director's Advances, Credits and Guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
P J C Smith	( 116)	( 126,161)	125,856	( 421)
	----	---------	---------	----

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
P J C Smith	( 1,511)	( 72,144)	73,539	( 116)
	-------	--------	--------	----

The credits to the director were made on an interest free basis and are repayable on demand.