PJC Fire Protection Limited Company Accounts

PJC FIRE PROTECTION LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04351705

PJC Fire Protection Limited

Filleted Unaudited Financial Statements

31 March 2017

PJC Fire Protection Limited

Financial Statements

Year ended 31 March 2017

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

PJC Fire Protection Limited

Officers and Professional Advisers

The board of directors	Mrs J. O'Dell
	Mr P. G. O'Dell

Registered office	10-12 County End Business Centre
	Jackson Street
	Springhead
	Oldham
	Lancashire
	OL4 4TZ

Accountants	Morris Gregory
	Chartered Accountants
	County End Business Centre
	Jackson Street
	Springhead
	Oldham
	Lancashire
	OL4 4TZ

Bankers	Barclays
	190 Stamford Street
	Ashton-under-lyne
	Lancs
	OL6 7NZ

PJC Fire Protection Limited

Statement of Financial Position

31 March 2017

	2017	2016
Note	£	£

Fixed assets

Tangible assets	5	2,335	3,485

Current assets

Stocks		4,200	4,150
Debtors	6	21,039	26,458
Cash at bank and in hand		159,622	184,453
		---------	---------
		184,861	215,061

Creditors: amounts falling due within one year	7	( 30,805)	( 61,884)
		---------	---------
Net current assets		154,056	153,177
		---------	---------
Total assets less current liabilities		156,391	156,662
		---------	---------
Net assets		156,391	156,662
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	156,291	156,562
	---------	---------
Shareholders funds	156,391	156,662
	---------	---------

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 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 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

PJC Fire Protection Limited

Statement of Financial Position (continued)

31 March 2017

These financial statements were approved by the board of directors and authorised for issue on 9 November 2017 , and are signed on behalf of the board by:

Mr P. G. O'Dell

Director

Company registration number: 04351705

PJC Fire Protection Limited

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10-12 County End Business Centre, Jackson Street, Springhead, Oldham, OL4 4TZ, Lancashire.

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.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

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.

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:

Plant & Machinery	-	25% straight line
Motor Vehicles	-	33% reducing balance
Office Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2016: 2 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2016 and 31 March 2017	1,872	11,695	778	14,345
	-------	--------	----	--------
Depreciation
At 1 April 2016	1,872	8,210	778	10,860
Charge for the year	–	1,150	–	1,150
	-------	--------	----	--------
At 31 March 2017	1,872	9,360	778	12,010
	-------	--------	----	--------
Carrying amount
At 31 March 2017	–	2,335	–	2,335
	-------	--------	----	--------
At 31 March 2016	–	3,485	–	3,485
	-------	--------	----	--------

6. Debtors

	2017	2016
	£	£
Trade debtors	19,594	25,195
Other debtors	1,445	1,263
	--------	--------
	21,039	26,458
	--------	--------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	–	5,522
Corporation tax	12,024	24,626
Social security and other taxes	9,720	15,876
Other creditors	9,061	15,860
	--------	--------
	30,805	61,884
	--------	--------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs J. O'Dell	( 14,630)	7,129	( 7,501)
	--------	-------	-------

	2016
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs J. O'Dell	( 25,832)	11,202	( 14,630)
	--------	--------	--------

9. Related party transactions

The company was under the control of the directors, Mr & Mrs O'Dell throughout the current and previous year. Mr & Mrs O'Dell are equal shareholders. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities (Effective January 2015).

10. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.