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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
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PJS INVESTMENTS (EAST ANGLIA) LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
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FOR |
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PJS INVESTMENTS (EAST ANGLIA) LIMITED |
PJS INVESTMENTS (EAST ANGLIA) LIMITED (REGISTERED NUMBER: 08069707) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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PJS INVESTMENTS (EAST ANGLIA) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
Ingram House |
Meridian Way |
Norwich |
Norfolk |
NR7 0TA |
PJS INVESTMENTS (EAST ANGLIA) LIMITED (REGISTERED NUMBER: 08069707) |
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BALANCE SHEET |
31 MAY 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Fair value reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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PJS INVESTMENTS (EAST ANGLIA) LIMITED (REGISTERED NUMBER: 08069707) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
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1. | STATUTORY INFORMATION |
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PJS Investments (East Anglia) Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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At 31 May 2017 the company has net current liabilities of £613,122. The company relies on the continued |
support of its director to meet its day to day working capital capital requirements. The director has indicated her |
willingness to support the company as necessary for the foreseeable future. The director therefore considers it |
appropriate to prepare the financial statements on a going concern basis. |
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Turnover |
Turnover represents the fair value of rents receivable, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment property |
Investment properties are initially recorded at cost which includes purchase cost and any directly attributable |
expenditure. |
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Investment properties whose fair value can be measured reliably are measured at fair value. The gain or loss on |
revaluation is recognised in the Income Statement in the period in which it arises. Such gains or losses are |
transferred from retained earnings to a fair value reserve. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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PJS INVESTMENTS (EAST ANGLIA) LIMITED (REGISTERED NUMBER: 08069707) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 June 2016 |
and 31 May 2017 |
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DEPRECIATION |
At 1 June 2016 |
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Charge for year |
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At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 June 2016 |
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Revaluations | 45,000 |
At 31 May 2017 |
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NET BOOK VALUE |
At 31 May 2017 |
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At 31 May 2016 |
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The investment properties were revalued by the director on 31 May 2017 based on market value. |
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The fair value of the investment property at 31 May 2017 has been arrived at on the basis of a valuation carried |
out at that date by the director of the company, who is not a professionally qualified valuer. The valuation, was |
arrived at by reference to market evidence of transaction prices for similar properties where the properties are |
situated. |
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The historic cost of the investment property was £634,519 (2016 - £634,519). |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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PJS INVESTMENTS (EAST ANGLIA) LIMITED (REGISTERED NUMBER: 08069707) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary A | £1 | 900 | 900 |
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Ordinary B | £1 | 100 | 100 |
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Ordinary C | £1 | 100 | 100 |
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Ordinary D | £1 | 100 | 100 |
1,200 | 1,200 |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 May 2017 and |
31 May 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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This loan is interest free, unsecured and repayable on demand. |
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11. | FIRST YEAR ADOPTION |
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As a consequence of adopting Section 1A of FRS 102, the presentation of the financial statements has been |
updated to reflect the revised standard and all accounting policies have been reviewed and updated as |
appropriate. |
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The has adopted Section 1A of FRS 102 for the year ended 31 May 2017 and has restated the comparative |
amounts. |
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Explanations - changes for Section 1A of FRS 102 adoption |
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1. | Under FRS 102, gains arising on revaluation of investment property are recorded in the Income |
Statement. Under previous UK GAAP these changes, except for permanent deficits below |
cost, were recorded in the Statement of Total Recognised Gains and Losses. |
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2. | FRS 102 requires deferred tax to be provided in the Income Statement on gains arising on |
revaluation of investment property. |
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3. | Under FRS 102, a gain on revaluation of investment property will not be a realised profit available for |
distribution and therefore the company has chosen to record unrealised gains arising on revaluation of |
investment property, net of deferred tax, in a separate fair value reserve. |