Company registration number 01605025 (England and Wales)
PJS INDUSTRIAL SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
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 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
40,940
182,503
Current assets
Stocks
100,948
81,713
Debtors
4
484,823
323,516
Cash at bank and in hand
277,371
351,808
863,142
757,037
Creditors: amounts falling due within one year
5
(132,391)
(136,436)
Net current assets
730,751
620,601
Total assets less current liabilities
771,691
803,104
Creditors: amounts falling due after more than one year
6
(52,148)
Provisions for liabilities
(8,294)
(8,364)
Net assets
763,397
742,592
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
763,394
742,589
Total equity
763,397
742,592
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 2022 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.
PJS INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 01605025)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2022
31 December 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 6 April 2023 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 2022
- 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 amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. 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 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 cost and replacement cost, adjusted where applicable for any loss of service potential.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
PJS INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
4
3
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2022
141,311
144,919
60,660
346,890
Additions
9,032
9,032
Disposals
(141,311)
(141,311)
At 31 December 2022
153,951
60,660
214,611
Depreciation and impairment
At 1 January 2022
2,826
126,777
34,784
164,387
Depreciation charged in the year
5,641
6,469
12,110
Eliminated in respect of disposals
(2,826)
(2,826)
At 31 December 2022
132,418
41,253
173,671
Carrying amount
At 31 December 2022
21,533
19,407
40,940
At 31 December 2021
138,485
18,142
25,876
182,503
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
106,503
91,454
Amounts owed by group undertakings
377,525
232,062
Other debtors
795
484,823
323,516
PJS INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
7,573
Trade creditors
87,965
74,801
Taxation and social security
29,699
39,007
Other creditors
14,727
15,055
132,391
136,436
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
52,148
Creditors which fall due after five years are as follows:
2022
2021
£
£
Payable by instalments
-
21,854