Company Registration No. 01605025 (England and Wales)
PJS INDUSTRIAL SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
PJS INDUSTRIAL SUPPLIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PJS INDUSTRIAL SUPPLIES LIMITED (REGISTERED NUMBER: 01605025)
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
182,503
37,179
Current assets
Stocks
81,713
65,739
Debtors
4
323,516
453,679
Cash at bank and in hand
351,808
329,952
757,037
849,370
Creditors: amounts falling due within one year
5
(136,436)
(118,842)
Net current assets
620,601
730,528
Total assets less current liabilities
803,104
767,707
Creditors: amounts falling due after more than one year
6
(52,148)
(69,743)
Provisions for liabilities
(8,364)
(7,188)
Net assets
742,592
690,776
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
742,589
690,773
Total equity
742,592
690,776
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 2021 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.
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 2021
31 December 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 February 2022 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 2021
- 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 £.
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.
PJS INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Government grants
Government grants are recognised at the fair value of the asset receive
d
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
4
PJS INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2021
143,222
55,758
198,980
Additions
141,311
1,697
22,892
165,900
Disposals
(17,990)
(17,990)
At 31 December 2021
141,311
144,919
60,660
346,890
Depreciation and impairment
At 1 January 2021
121,200
40,601
161,801
Depreciation charged in the year
2,826
5,577
3,538
11,941
Eliminated in respect of disposals
(9,355)
(9,355)
At 31 December 2021
2,826
126,777
34,784
164,387
Carrying amount
At 31 December 2021
138,485
18,142
25,876
182,503
At 31 December 2020
22,022
15,157
37,179
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
91,454
71,805
Amounts owed by group undertakings
232,062
381,874
323,516
453,679
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
7,573
9,894
Trade creditors
74,801
43,268
Taxation and social security
39,007
50,277
Other creditors
15,055
15,403
136,436
118,842
PJS INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
52,148
69,743
Creditors which fall due after five years are as follows:
2021
2020
£
£
Payable by instalments
21,854
30,167