PBJ Investments Limited
PBJ Investments Limited
Registered number: 04422560
Unaudited Financial Statements
For The Year Ended 30 April 2018
Lewis Ballard Ltd
PBJ Investments Limited
Unaudited Financial Statements
For The Year Ended 30 April 2018
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Company Information | 1 |
| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—6 |
PBJ Investments Limited
Company Information
For The Year Ended 30 April 2018
Company Information
| Director |
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| Company Number |
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| Registered Office | Celtic House |
| Caxton Place | |
| Pentwyn | |
| Cardiff | |
| CF23 8HA | |
| Accountants |
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| Chartered Certified Accountant | |
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| Caxton Place | |
| Cardiff | |
| South Glamorgan | |
| CF23 8HA | |
Page 1
PBJ Investments Limited
Balance Sheet
As at
30 April 2018
Balance Sheet
Registered number:
04422560
For the year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 5 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Revaluation reserve | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 540,340 | 499,396 | |||
Page 2
PBJ Investments Limited
Balance Sheet (continued)
As at
30 April 2018
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his 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. - 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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The notes on pages 4 to 6 form part of these financial statements.
Page 3
PBJ Investments Limited
Notes to the Financial Statements
For The Year Ended 30 April 2018
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
As at the balance sheet date, the company's current liabilities exceeded its current assets. The majority of the current liabilities is the loan from the director. The company has received assurance from the director that he will continue to give financial support to the company for twelve months from the date of signing these financial statements if necessary. On this basis, the director considers it appropriate to prepare the accounts on a going concern basis.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
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1.5.
Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
Page 4
PBJ Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2018
1.6.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3.
Tangible Assets
| Land & Property | |
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| Freehold | |
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| Cost | |
| As at |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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4.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Corporation tax |
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| Accrued expenses |
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| Director's loan account |
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Page 5
PBJ Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2018
5.
Creditors: Amounts Falling Due After More Than One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Bank loans - 2-5 years |
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| Bank loans > 5 years |
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7.
Directors Advances, Credits and Guarantees
As at the balance sheet date the company owed the director P C Walker £535,976 (2017 - £575,681)
8.
Reserves
| Revaluation Reserve | |
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| £ | |
| As at |
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| As at |
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9.
Related Party Transactions
As at the balance sheet date the company owed the director P C Walker £537,167 (2017 - £575,681)
10.
Ultimate Controlling Party
The company's ultimate controlling party is P C Walker by virtue of his ownership of 100% of the issued share capital in the company.
11.
General Information
PBJ Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04422560 . The registered office is Celtic House, Caxton Place, Pentwyn, Cardiff, CF23 8HA.
Page 6