PJS Direct Ltd - Accounts to registrar (filleted) - small 18.2

PJS Direct Ltd - Accounts to registrar (filleted) - small 18.2

PJS DIRECT LIMITED - Company Information

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REGISTERED NUMBER: 07707874 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st July 2019

for

PJS Direct Limited
PJS Direct Limited (Registered number: 07707874)






Contents of the Financial Statements
for the Year Ended 31st July 2019




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


PJS Direct Limited (Registered number: 07707874)

Abridged Balance Sheet
31st July 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 15,517 21,812

CURRENT ASSETS
Stocks 77,041 79,521
Debtors 30,118 25,755
Cash at bank 56,858 32,997
164,017 138,273
CREDITORS
Amounts falling due within one year 76,280 53,817
NET CURRENT ASSETS 87,737 84,456
TOTAL ASSETS LESS CURRENT
LIABILITIES
103,254
106,268

CREDITORS
Amounts falling due after more than one
year
(13,541
)
(17,017
)

PROVISIONS FOR LIABILITIES (2,948 ) (4,144 )
NET ASSETS 86,765 85,107

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 86,665 85,007
SHAREHOLDERS' FUNDS 86,765 85,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The notes form part of these financial statements

Page 1 continued...
PJS Direct Limited (Registered number: 07707874)

Abridged Balance Sheet - continued
31st July 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st July 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 6th September 2019 and were signed on its behalf
by:





Mr. P Matthes - Director


The notes form part of these financial statements

Page 2
PJS Direct Limited (Registered number: 07707874)

Notes to the Financial Statements
for the Year Ended 31st July 2019

1. STATUTORY INFORMATION

PJS Direct Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address are as below:

Registered number: 07707874

Registered office: Vulcan House
Priory Road
Rochester
Kent
ME2 2BD

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods in the ordinary
course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognizes revenue when the amount of revenue can be reliably measured, it is probable that
future economic benefits will flow to the entity and when specific criteria have been met for each of the
company's activities as follows:

Revenue from the sale of goods is recognized at the point at which the goods have been delivered to the
customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and
Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or
directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.


Page 3 continued...
PJS Direct Limited (Registered number: 07707874)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2019

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st August 2018
and 31st July 2019 34,158
DEPRECIATION
At 1st August 2018 12,346
Charge for year 6,295
At 31st July 2019 18,641
NET BOOK VALUE
At 31st July 2019 15,517
At 31st July 2018 21,812

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1st August 2018
and 31st July 2019 25,100
DEPRECIATION
At 1st August 2018 6,275
Charge for year 4,706
At 31st July 2019 10,981
NET BOOK VALUE
At 31st July 2019 14,119
At 31st July 2018 18,825

Page 4