PJM Valeting Limited - Abbreviated accounts 16.1

PJM Valeting Limited - Abbreviated accounts 16.1

PJM CARS LIMITED - Company Information

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REGISTERED NUMBER: 05398023 (England and Wales)















Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

PJM Valeting Limited

PJM Valeting Limited (Registered number: 05398023)

Contents of the Abbreviated Accounts
for the Year Ended 31 December 2015










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

PJM Valeting Limited

Company Information
for the Year Ended 31 December 2015







DIRECTORS: T Burns
P Moore
Mrs S Moore





SECRETARY: T Burns





REGISTERED OFFICE: Automotive House
Rowley Road
Coventry
West Midlands
CV3 4PY





REGISTERED NUMBER: 05398023 (England and Wales)





ACCOUNTANTS: Vaughan Davies & Co (Accountants) Ltd
Post Office House
100 Long Street
Atherstone
Warwickshire
CV9 1AP
Page 1
PJM Valeting Limited (Registered number: 05398023)

Abbreviated Balance Sheet
31 December 2015

31.12.15 31.12.14
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 1 1
Tangible assets 3 56,295 21,473
56,296 21,474

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 1,179,626 2,406,598
Cash at bank 543,517 423,023
1,738,143 2,844,621
CREDITORS
Amounts falling due within one year 476,301 536,895
NET CURRENT ASSETS 1,261,842 2,307,726
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,318,138
2,329,200

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 1,318,038 2,329,100
SHAREHOLDERS' FUNDS 1,318,138 2,329,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 9 June 2016 and were signed on its behalf by:



P Moore - Director


The notes form part of these abbreviated accounts

Page 2
PJM Valeting Limited (Registered number: 05398023)

Notes to the Abbreviated Accounts
for the Year Ended 31 December 2015


1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% 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.

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

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 the profit and loss account in the period to which they relate.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2015
and 31 December 2015 1,200,000
AMORTISATION
At 1 January 2015
and 31 December 2015 1,199,999
NET BOOK VALUE

At 31 December 2015 1
At 31 December 2014 1

Page 3 continued...
PJM Valeting Limited (Registered number: 05398023)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 December 2015


3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2015 89,871
Additions 72,083
Disposals (55,246 )
At 31 December 2015 106,708
DEPRECIATION
At 1 January 2015 68,398
Charge for year 13,814
Eliminated on disposal (31,799 )
At 31 December 2015 50,413
NET BOOK VALUE
At 31 December 2015 56,295
At 31 December 2014 21,473

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.15 31.12.14
value: £    £   
100 Ordinary £1 100 100

5. ULTIMATE PARENT COMPANY

PJM Group (UK) Limited is regarded by the directors as being the company's ultimate parent company.

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2015 and
31 December 2014:

31.12.15 31.12.14
£    £   
P Moore and Mrs S Moore
Balance outstanding at start of year 355,958 356,099
Amounts advanced 144,641 172,109
Amounts repaid (182,325 ) (172,250 )
Balance outstanding at end of year 318,274 355,958

T Burns
Balance outstanding at start of year 99,872 83,116
Amounts advanced 104,692 109,506
Amounts repaid (98,175 ) (92,750 )
Balance outstanding at end of year 106,389 99,872

Page 4