P S J PROPERTIES LTD.

P S J PROPERTIES LTD. - Company Information

2021-01-012021-12-312021-12-31false04650913P S J PROPERTIES LTD.2022-05-2641100iso4217:GBPxbrli:pure046509132021-01-01046509132021-12-31046509132021-01-012021-12-31046509132020-01-01046509132020-12-31046509132020-01-012020-12-3104650913bus:SmallEntities2021-01-012021-12-3104650913bus:AuditExempt-NoAccountantsReport2021-01-012021-12-3104650913bus:AbridgedAccounts2021-01-012021-12-3104650913bus:PrivateLimitedCompanyLtd2021-01-012021-12-3104650913core:WithinOneYear2021-12-3104650913core:AfterOneYear2021-12-3104650913core:WithinOneYear2020-12-3104650913core:AfterOneYear2020-12-3104650913core:ShareCapital2021-12-3104650913core:SharePremium2021-12-3104650913core:RevaluationReserve2021-12-3104650913core:OtherReservesSubtotal2021-12-3104650913core:RetainedEarningsAccumulatedLosses2021-12-3104650913core:ShareCapital2020-12-3104650913core:SharePremium2020-12-3104650913core:RevaluationReserve2020-12-3104650913core:OtherReservesSubtotal2020-12-3104650913core:RetainedEarningsAccumulatedLosses2020-12-3104650913core:LandBuildings2021-12-3104650913core:PlantMachinery2021-12-3104650913core:Vehicles2021-12-3104650913core:FurnitureFittings2021-12-3104650913core:OfficeEquipment2021-12-3104650913core:NetGoodwill2021-12-3104650913core:IntangibleAssetsOtherThanGoodwill2021-12-3104650913core:ListedExchangeTraded2021-12-3104650913core:UnlistedNon-exchangeTraded2021-12-3104650913core:LandBuildings2020-12-3104650913core:PlantMachinery2020-12-3104650913core:Vehicles2020-12-3104650913core:FurnitureFittings2020-12-3104650913core:OfficeEquipment2020-12-3104650913core:NetGoodwill2020-12-3104650913core:IntangibleAssetsOtherThanGoodwill2020-12-3104650913core:ListedExchangeTraded2020-12-3104650913core:UnlistedNon-exchangeTraded2020-12-3104650913core:LandBuildings2021-01-012021-12-3104650913core:PlantMachinery2021-01-012021-12-3104650913core:Vehicles2021-01-012021-12-3104650913core:FurnitureFittings2021-01-012021-12-3104650913core:OfficeEquipment2021-01-012021-12-3104650913core:NetGoodwill2021-01-012021-12-3104650913core:IntangibleAssetsOtherThanGoodwill2021-01-012021-12-3104650913core:ListedExchangeTraded2021-01-012021-12-3104650913core:UnlistedNon-exchangeTraded2021-01-012021-12-3104650913core:MoreThanFiveYears2021-01-012021-12-3104650913core:Non-currentFinancialInstruments2021-12-3104650913core:Non-currentFinancialInstruments2020-12-3104650913dpl:CostSales2021-01-012021-12-3104650913dpl:DistributionCosts2021-01-012021-12-3104650913dpl:AdministrativeExpenses2021-01-012021-12-3104650913core:LandBuildings2021-01-012021-12-3104650913core:PlantMachinery2021-01-012021-12-3104650913core:Vehicles2021-01-012021-12-3104650913core:FurnitureFittings2021-01-012021-12-3104650913core:OfficeEquipment2021-01-012021-12-3104650913core:NetGoodwill2021-01-012021-12-3104650913core:IntangibleAssetsOtherThanGoodwill2021-01-012021-12-3104650913dpl:GroupUndertakings2021-01-012021-12-3104650913dpl:ParticipatingInterests2021-01-012021-12-3104650913dpl:GroupUndertakingscore:ListedExchangeTraded2021-01-012021-12-3104650913core:ListedExchangeTraded2021-01-012021-12-3104650913dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-01-012021-12-3104650913core:UnlistedNon-exchangeTraded2021-01-012021-12-3104650913dpl:CostSales2020-01-012020-12-3104650913dpl:DistributionCosts2020-01-012020-12-3104650913dpl:AdministrativeExpenses2020-01-012020-12-3104650913core:LandBuildings2020-01-012020-12-3104650913core:PlantMachinery2020-01-012020-12-3104650913core:Vehicles2020-01-012020-12-3104650913core:FurnitureFittings2020-01-012020-12-3104650913core:OfficeEquipment2020-01-012020-12-3104650913core:NetGoodwill2020-01-012020-12-3104650913core:IntangibleAssetsOtherThanGoodwill2020-01-012020-12-3104650913dpl:GroupUndertakings2020-01-012020-12-3104650913dpl:ParticipatingInterests2020-01-012020-12-3104650913dpl:GroupUndertakingscore:ListedExchangeTraded2020-01-012020-12-3104650913core:ListedExchangeTraded2020-01-012020-12-3104650913dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-01-012020-12-3104650913core:UnlistedNon-exchangeTraded2020-01-012020-12-3104650913core:NetGoodwill2021-12-3104650913core:IntangibleAssetsOtherThanGoodwill2021-12-3104650913core:LandBuildings2021-12-3104650913core:PlantMachinery2021-12-3104650913core:Vehicles2021-12-3104650913core:FurnitureFittings2021-12-3104650913core:OfficeEquipment2021-12-3104650913core:AfterOneYear2021-12-3104650913core:WithinOneYear2021-12-3104650913core:ListedExchangeTraded2021-12-3104650913core:UnlistedNon-exchangeTraded2021-12-3104650913core:ShareCapital2021-12-3104650913core:SharePremium2021-12-3104650913core:RevaluationReserve2021-12-3104650913core:OtherReservesSubtotal2021-12-3104650913core:RetainedEarningsAccumulatedLosses2021-12-3104650913core:NetGoodwill2020-12-3104650913core:IntangibleAssetsOtherThanGoodwill2020-12-3104650913core:LandBuildings2020-12-3104650913core:PlantMachinery2020-12-3104650913core:Vehicles2020-12-3104650913core:FurnitureFittings2020-12-3104650913core:OfficeEquipment2020-12-3104650913core:AfterOneYear2020-12-3104650913core:WithinOneYear2020-12-3104650913core:List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Registered Number
04650913
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 December 2021

P S J PROPERTIES LTD.

Company Information
for the year from 1 January 2021 to 31 December 2021


Directors	M P Jessopp
	P S Jessopp


Registered Address	107 North Street
	Martock
	Somerset
	TA12 6EJ


Registered Number	04650913 (England and Wales)

P S J PROPERTIES LTD.

Balance Sheet as at
31 December 2021

	Notes	2021		2020
		£	£	£	£
Fixed assets
Tangible assets	5		7,665,037		8,585,189
			7,665,037		8,585,189
Current assets
Debtors		18,333		40,204
Cash at bank and on hand		2,589,923		1,446,546
		2,608,256		1,486,750
Creditors amounts falling due within one year	9	(415,450)		(782,470)
Net current assets (liabilities)			2,192,806		704,280
Total assets less current liabilities			9,857,843		9,289,469
Provisions for liabilities			(20,003)		(26,011)
Net assets			9,837,840		9,263,458
Capital and reserves
Called up share capital			200		200
Profit and loss account			9,837,640		9,263,258
Shareholders' funds			9,837,840		9,263,458

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 26 May 2022, and are signed on its behalf by:

M P Jessopp
Director

P S Jessopp
Director

Registered Company No. 04650913

P S J PROPERTIES LTD.

Notes to the Financial Statements
for the year ended 31 December 2021

1.	STATUTORY INFORMATION
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	ACCOUNTING POLICIES

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	10
	Fixtures and fittings	10
	Vehicles	25

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Taxation policy
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Government grants and other government assistance policy
	Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

	Investments policy
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments policy

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

4.	EMPLOYEE INFORMATION


		2021		2020
	Average number of employees during the year	7		7

5.	PROPERTY, PLANT AND EQUIPMENT

		Total
		£
	Cost or valuation
	At 01 January 21	8,896,496
	Disposals	(896,585)
	At 31 December 21	7,980,398
	Depreciation and impairment
	At 01 January 21	311,307
	Charge for year	23,567
	At 31 December 21	315,361
	Net book value
	At 31 December 21	7,665,037
	At 31 December 20	8,585,189

6.	FIXED ASSET INVESTMENTS

7.	DIVIDENDS PROPOSED AND PAYABLE

	2021	2020
	£	£
Dividends Paid	60,000	-
Total	60,000	-

8.	DEBTORS WITHIN ONE YEAR

	2021	2020
	£	£
Trade debtors / trade receivables	13,901	35,843
Prepayments and accrued income	4,432	4,361
Total	18,333	40,204


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

9.	CREDITORS WITHIN ONE YEAR

	2021	2020
	£	£
Trade creditors / trade payables	96,542	1,524
Amounts owed to related parties	-	400,000
Taxation and social security	213,484	181,584
Accrued liabilities and deferred income	105,424	199,362
Total	415,450	782,470


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.