Company Registration No. 01605025 (England and Wales)
PJS INDUSTRIAL SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
PAGES FOR FILING WITH REGISTRAR
PJS INDUSTRIAL SUPPLIES LIMITED
COMPANY INFORMATION
Directors
Mr J Huxtable
Mrs S Huxtable
Secretary
Mrs S Huxtable
Company number
01605025
Registered office
Unit 10 Castleacres
Castle Road
Sittingbourne
Kent
ME10 3RZ
Accountants
Perrys Accountants Limited
Chartered Accountants
1 Alpha House
Laser Quay, Culpeper Close
Medway City Estate
Rochester
Kent
ME2 4HU
PJS INDUSTRIAL SUPPLIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PJS INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 01605025)
BALANCE SHEET
AS AT
31 DECEMBER 2017
31 December 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
517,917
258,351
Current assets
Stocks
109,678
107,109
Debtors
4
88,993
102,038
Cash at bank and in hand
85,995
350,388
284,666
559,535
Creditors: amounts falling due within one year
5
(215,316)
(254,363)
Net current assets
69,350
305,172
Total assets less current liabilities
587,267
563,523
Creditors: amounts falling due after more than one year
6
(83,305)
(87,596)
Provisions for liabilities
(7,239)
(5,328)
Net assets
496,723
470,599
Capital and reserves
Called up share capital
7
3
3
Profit and loss reserves
496,720
470,596
Total equity
496,723
470,599
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 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he 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.
PJS INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 01605025)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2017
31 December 2017
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 May 2018 and are signed on its behalf by:
Mr J Huxtable
Director
PJS INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
- 3 -
1
Accounting policies
Company information
PJS Industrial Supplies Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit 10 Castleacres, Castle Road, Sittingbourne, Kent, ME10 3RZ.
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 a
mounts
in these financial statements are
rounded to the nearest £
1
.
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
.
1.3
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 useful lives on the following bases:
Freehold land and buildings
Straight line over 50 years
Fixtures and fittings
20% on reducing balance
Motor vehicles
20% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
1.5
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
PJS INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income 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 lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 10 (2016 - 8
).
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2017
250,662
109,790
55,768
416,220
Additions
260,000
24,067
-
284,067
At 31 December 2017
510,662
133,857
55,768
700,287
Depreciation and impairment
At 1 January 2017
40,869
89,738
27,262
157,869
Depreciation charged in the year
9,976
8,824
5,701
24,501
At 31 December 2017
50,845
98,562
32,963
182,370
Carrying amount
At 31 December 2017
459,817
35,295
22,805
517,917
At 31 December 2016
209,793
20,051
28,507
258,351
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
88,993
102,038
PJS INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
- 5 -
5
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
9,815
9,940
Trade creditors
143,561
185,646
Corporation tax
17,976
17,552
Other taxation and social security
36,164
35,505
Other creditors
7,800
5,720
215,316
254,363
6
Creditors: amounts falling due after more than one year
2017
2016
£
£
Bank loans and overdrafts
83,305
87,596
Amounts included above which fall due after five years are as follows:
Payable by instalments
44,043
47,837
7
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
3 Ordinary of £1 each
3
3
3
3
8
Parent company
The ultimate controlling party is the parent company
Hux Holdings Limited
.
During the year, dividends totalling £36,450 were paid to Hux Holdings Limited.