Company Registration No. 10882442 (England and Wales)
PJRN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JULY 2018
PAGES FOR FILING WITH REGISTRAR
PJRN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PJRN LIMITED
BALANCE SHEET
AS AT
30 JULY 2018
30 July 2018
- 1 -
2018
Notes
£
£
Fixed assets
Tangible assets
3
96,549
Current assets
Debtors
4
31,957
Cash at bank and in hand
689,836
721,793
Creditors: amounts falling due within one year
5
(1,766)
Net current assets
720,027
Total assets less current liabilities
816,576
Reserves
Income and expenditure account
816,576

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements. true

For the financial period ended 30 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 .

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 2 May 2019 and are signed on its behalf by:
Mr Michael Madders
Director
Company Registration No. 10882442
PJRN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JULY 2018
- 2 -
1
Accounting policies
Company information

PJRN Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Watling Chambers West Suite, 214 Watling Street, Cannock, Staffordshire, WS11 0BD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

These financial statements for the period ended 30 July 2018 are the first financial statements of PJRN Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was . The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses include VAT where applicable as the company cannot reclaim it.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit .

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

PJRN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JULY 2018
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was 7.

PJRN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JULY 2018
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 25 July 2017
-
Additions
106,083
At 30 July 2018
106,083
Depreciation and impairment
At 25 July 2017
-
Depreciation charged in the period
9,534
At 30 July 2018
9,534
Carrying amount
At 30 July 2018
96,549
4
Debtors
2018
Amounts falling due within one year:
£
Service charges due
22,867
Other debtors
9,090
31,957
5
Creditors: amounts falling due within one year
2018
£
Trade creditors
1,766
6
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

2018-07-30 2017-07-25 false CCH Software CCH Accounts Production 2019.100 No description of principal activity 02 May 2019 Mr Richard Blackburn Mr Paul Brown Mr David Kennerley Mr Michael Madders Mr Andrew Porteous Mr Roland Tavernor Mr Alan Warrington 10882442 2017-07-25 2018-07-30 10882442 2018-07-30 10882442 core:OtherPropertyPlantEquipment 2018-07-30 10882442 core:CurrentFinancialInstruments 2018-07-30 10882442 core:RetainedEarningsAccumulatedLosses 2018-07-30 10882442 bus:Director4 2017-07-25 2018-07-30 10882442 core:PlantMachinery 2017-07-25 2018-07-30 10882442 core:OtherPropertyPlantEquipment 2017-07-25 2018-07-30 10882442 bus:CompanyLimitedByGuarantee 2017-07-25 2018-07-30 10882442 bus:FRS102 2017-07-25 2018-07-30 10882442 bus:AuditExemptWithAccountantsReport 2017-07-25 2018-07-30 10882442 bus:SmallCompaniesRegimeForAccounts 2017-07-25 2018-07-30 10882442 bus:Director1 2017-07-25 2018-07-30 10882442 bus:Director2 2017-07-25 2018-07-30 10882442 bus:Director3 2017-07-25 2018-07-30 10882442 bus:Director5 2017-07-25 2018-07-30 10882442 bus:Director6 2017-07-25 2018-07-30 10882442 bus:Director7 2017-07-25 2018-07-30 10882442 bus:FullAccounts 2017-07-25 2018-07-30 xbrli:pure xbrli:shares iso4217:GBP