P S J Properties Ltd

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

P S J Properties Ltd

(Registration number: 04650913)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	137,663	189,566
Investment property	5	8,934,290	8,035,473
		9,071,953	8,225,039
Current assets
Debtors	6	12,735	48,774
Cash at bank and in hand		5,488,610	5,275,163
		5,501,345	5,323,937
Creditors: Amounts falling due within one year	7	(605,951)	(597,810)
Net current assets		4,895,394	4,726,127
Total assets less current liabilities		13,967,347	12,951,166
Provisions for liabilities		(34,416)	(47,391)
Net assets		13,932,931	12,903,775
Capital and reserves
Called up share capital		349	349
Profit and loss account		13,932,582	12,903,426
Shareholders' funds		13,932,931	12,903,775

For the financial year ending 31 December 2025 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 20 May 2026 and signed on its behalf by:
 

......................................... M P Jessopp Director

......................................... P S Jessopp Company secretary and director

P S J Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

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

The address of its registered office is:
Riders House
Wylds Road
Bridgwater
Somerset
TA6 4DH
United Kingdom

Principal activity

The principal activity of the company is that of property leasing and development.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 'The Financial Reporting Standard'.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

P S J Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Fixtures and fittings	10% reducing balance
Vehicles	25% reducing balance

P S J Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Impairment

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 5).

P S J Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

4	Tangible assets

	Fixtures and fittings £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2025	281,084	221,471	502,555
Disposals	-	(25,618)	(25,618)
At 31 December 2025	281,084	195,853	476,937
Depreciation
At 1 January 2025	231,937	81,052	312,989
Charge for the year	4,915	31,144	36,059
Eliminated on disposal	-	(9,774)	(9,774)
At 31 December 2025	236,852	102,422	339,274
Carrying amount
At 31 December 2025	44,232	93,431	137,663
At 31 December 2024	49,147	140,419	189,566

5	Investment properties

	2025 £
At 1 January	8,035,473
Additions	898,817
At 31 December	8,934,290

The fair value of the investment properties has been determined by the directors, based on their assessment of current market conditions and relevant available information, rather than by an independent professional valuer.

6

Debtors

	2025 £	2024 £
Trade debtors	251	2,115
Other debtors	7,595	41,479
Prepayments	4,889	5,180
	12,735	48,774

P S J Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	9,575	8,729
Taxation and social security	407,553	339,434
Accruals and deferred income	188,823	249,647
	605,951	597,810

8	Related party transactions

Summary of transactions with associates

Riders of Bridgwater Ltd is an associated company controlled by P S Jessopp, who is a director and majority shareholder. All transactions were conducted at arm’s length.
Rent paid to the company: £18,000 (2024: £15,750)
Services sold to the company: £1,599 (2024: £1,549)