PR&J Developments Ltd
PR&J Developments Ltd
Unaudited Financial Statements
For The Year Ended
28 February 2022
PR&J Developments Ltd
Unaudited Financial Statements
For The Year Ended
28 February 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—3 |
Page 1
PR&J Developments Ltd
Balance Sheet
As at
28 February 2022
Balance Sheet
Registered number:
11801950
For the year ending 28 February 2022 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Stocks | 3 |
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| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
( |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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| NET LIABILITIES |
( |
( |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Profit and Loss Account |
( |
( |
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| SHAREHOLDERS' FUNDS | (4,076) | (446) | |||
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
PR&J Developments Ltd
Notes to the Financial Statements
For The Year Ended
28 February 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3.
Stocks and Work in Progress
Stocks represent the accumulation of costs of development properties which are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.4.
Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares, which are measured at fair value, with changes recognised in profit or loss.
Derivative financial instruments, where applicable, are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
1.5.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.
Average Number of Employees
The average number of employees, including directors, during the year was 2 (2021: 2)
3.
Stocks
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Stock - materials and work in progress | 436,092 | 435,032 | |
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4.
Debtors
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Other debtors | - | 28 | |
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Page 2
Page 3
PR&J Developments Ltd
Notes to the Financial Statements (continued)
For The Year Ended
28 February 2022
5.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Other creditors | 440,176 | 435,168 | |
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Included within Other Creditors are loans from the directors totalling £438,971 (2021 - £433,448). Directors loans are unsecured, interest free and repayable on demand.
6.
Share Capital
| 2022 | 2021 | ||
|---|---|---|---|
| Allotted, Called up and fully paid |
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7.
General Information
PR&J Developments Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
11801950
. The registered office is Mill House, Liphook Road, Haslemere, Surrey, GU27 3QE.
Page 3