PJA Carpentry Limited Filleted accounts for Companies House (small and micro)

PJA CARPENTRY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04811295

PJA CARPENTRY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 May 2021

PJA CARPENTRY LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31st MAY 2021

CONTENTS	PAGE

Officers and professional advisers	1

Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

PJA CARPENTRY LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

DIRECTOR	P J Albone

REGISTERED OFFICE	475 Salisbury House
	London Wall
	London
	EC2M 5QQ

ACCOUNTANTS	Colne Valley Business Services LLP t/a Cloke & Co
	Chartered Certified Accountants
	475 Salisbury House
	London Wall
	London
	EC2M 5QQ

PJA CARPENTRY LIMITED

CHARTERED CERTIFIED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PJA CARPENTRY LIMITED

YEAR ENDED 31st MAY 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PJA Carpentry Limited for the year ended 31st May 2021, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of PJA Carpentry Limited in accordance with the terms of our engagement letter dated 1st August 2017. Our work has been undertaken solely to prepare for your approval the financial statements of PJA Carpentry Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PJA Carpentry Limited and its director for our work or for this report.

It is your duty to ensure that PJA Carpentry Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PJA Carpentry Limited. You consider that PJA Carpentry Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of PJA Carpentry Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Colne Valley Business Services LLP t/a Cloke & Co Chartered Certified Accountants

475 Salisbury House London Wall London EC2M 5QQ

19 August 2021

PJA CARPENTRY LIMITED

STATEMENT OF FINANCIAL POSITION

31 May 2021

	2021		2020
Note	£	£	£

FIXED ASSETS

Tangible assets	5		316,861	347,672

CURRENT ASSETS

Stocks		45,232	38,320
Debtors	6	543,823	179,090
Cash at bank and in hand		558,851	563,594
		------------	---------
		1,147,906	781,004

CREDITORS: amounts falling due within one year	7	815,037		759,143
		------------		---------
NET CURRENT ASSETS			332,869	21,861
			---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES			649,730	369,533

CREDITORS: amounts falling due after more than one year	8		114,387	106,667

PROVISIONS

Taxation including deferred tax	22,384	26,193
	---------	---------
NET ASSETS	512,959	236,673
	---------	---------

PJA CARPENTRY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 May 2021

	2021		2020
Note	£	£	£

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	512,859	236,573
	---------	---------
SHAREHOLDERS FUNDS	512,959	236,673
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 August 2021 , and are signed on behalf of the board by:

P J Albone
Director

Company registration number: 04811295

PJA CARPENTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MAY 2021

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 475 Salisbury House, London Wall, London, EC2M 5QQ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

BASIS OF PREPARATION

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

REVENUE RECOGNITION

Turnover is recognised when each stage of a contract is completed, less any amounts withheld for retentions by the contractor, exclusive of Value Added Tax.

INCOME TAX

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

TANGIBLE ASSETS

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

DEPRECIATION

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold improvements	-	Over period of the lease
Motor vehicles	-	25% reducing balance
Office equipment	-	25% reducing balance

STOCKS

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

FINANCE LEASES AND HIRE PURCHASE CONTRACTS

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

PROVISIONS

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

DEFINED CONTRIBUTION PLANS

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 22 (2020: 29 ).

5. TANGIBLE ASSETS

	Land and buildings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1st June 2020 and 31st May 2021	294,401	105,128	49,150	448,679
	---------	---------	--------	---------
Depreciation
At 1st June 2020	22,724	49,700	28,583	101,007
Charge for the year	11,812	13,857	5,142	30,811
	---------	---------	--------	---------
At 31st May 2021	34,536	63,557	33,725	131,818
	---------	---------	--------	---------
Carrying amount
At 31st May 2021	259,865	41,571	15,425	316,861
	---------	---------	--------	---------
At 31st May 2020	271,677	55,428	20,567	347,672
	---------	---------	--------	---------

6. DEBTORS

	2021	2020
	£	£
Trade debtors	401,235	135,101
Amounts owed by group undertakings and undertakings in which the company has a participating interest	101,068	1,300
Other debtors	41,520	42,689
	---------	---------
	543,823	179,090
	---------	---------

7. CREDITORS: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	13,333	13,333
Trade creditors	436,183	192,656
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	165,480
Corporation tax	71,215	–
Social security and other taxes	156,466	177,030
Other creditors	137,840	210,644
	---------	---------
	815,037	759,143
	---------	---------

8. CREDITORS: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	93,333	106,667
Other creditors	21,054	–
	---------	---------
	114,387	106,667
	---------	---------

9. RELATED PARTY TRANSACTIONS

The company was under the control of P J Albone throughout the current and previous year. P J Albone is a director and shareholder of the company, who received dividends in the year totalling £- (2020 - £3,000). The company rent a property that is owned by a company director and paid in the year rent of £30,000 (2020 - £30,000). The director of PJA Carpentry Limited is also a director of PJA Contracting Limited. During the year PJA Carpentry Limited provided during the normal course of business carpentry and office services amounting to £701,256 (2020 - £655,207) and rent of offices amounting to £6,000 (2020 - £6,000). At the year end, PJA Contracting Limited owed PJA Carpentry Limited £14,768; in the previous year PJA Contracting Limited was owed by PJA Carpentry Limited £165,480. The director of PJA Carpentry Limited is also a director of PJA Carpentry (Bedfordshire) Limited. At the year end, PJA Carpentry (Bedfordshire) Limited owed PJA Carpentry Limited £86,300 (2020 - £1,300). No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.