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Company Registration No. SC580052 (Scotland)
PJW CORPORATE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2018
PAGES FOR FILING WITH REGISTRAR
PJW CORPORATE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
PJW CORPORATE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2018
31 December 2018
- 1 -
2018
Notes
£
£
Fixed assets
Tangible assets
3
738
Investments
4
16,257
16,995
Current assets
Debtors
5
24,950
Cash at bank and in hand
72,596
97,546
Creditors: amounts falling due within one year
6
(51,854)
Net current assets
45,692
Total assets less current liabilities
62,687
Provisions for liabilities
(125)
Net assets
62,562
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
62,462
Total equity
62,562

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The 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.

PJW CORPORATE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2018
31 December 2018
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 11 April 2019
Mr P  Jarman-Williams
Director
Company Registration No. SC580052
PJW CORPORATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2018
- 3 -
1
Accounting policies
Company information

PJW Corporate Limited is a private company limited by shares incorporated in Scotland. The registered office is 2a Coates Crescent, Edinburgh, EH3 7AL.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for legal services in the normal course of business, excluding value added tax.

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:

Computers
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 profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

PJW CORPORATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 4 -
1.5
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.

1.6
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.

Debtors

Debtors with no stated interest rate or receivable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account.

Creditors

Creditors with no stated interest rate and payable within one year are recorded at transaction price.

 

All interest bearing loans and borrowings which are basic financial instruments are initially recorded at the present value of cash payable. After initial recognition they are measured at amortised cost.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

PJW CORPORATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was 1.

PJW CORPORATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2018
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 27 October 2017
-
Additions
1,042
At 31 December 2018
1,042
Depreciation and impairment
At 27 October 2017
-
Depreciation charged in the period
304
At 31 December 2018
304
Carrying amount
At 31 December 2018
738
4
Fixed asset investments
2018
£
Investments
16,257
Movements in fixed asset investments
Shares in group undertakings and participating interests
£
Cost or valuation
At 27 October 2017
-
Additions
16,257
At 31 December 2018
16,257
Carrying amount
At 31 December 2018
16,257
PJW CORPORATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2018
- 7 -
5
Debtors
2018
Amounts falling due within one year:
£
Trade debtors
23,550
Other debtors
1,400
24,950
6
Creditors: amounts falling due within one year
2018
£
Taxation and social security
38,205
Other creditors
13,649
51,854
7
Called up share capital
2018
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100

100 Ordinary £1 shares were issued on 27 October 2017 at par.

8
Related party transactions

The directors are of the opinion that all related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.

2018-12-312017-10-27falseCCH SoftwareCCH Accounts Production 2018.310No description of principal activity11 April 2019Mr P Jarman-WilliamsMs J A Jarman-WilliamsSC5800522017-10-272018-12-31SC5800522018-12-31SC580052core:OtherPropertyPlantEquipment2018-12-31SC580052core:CurrentFinancialInstruments2018-12-31SC580052core:ShareCapital2018-12-31SC580052core:RetainedEarningsAccumulatedLosses2018-12-31SC580052core:ShareCapitalOrdinaryShares2018-12-31SC580052bus:Director12017-10-272018-12-31SC580052core:ComputerEquipment2017-10-272018-12-31SC580052core:OtherPropertyPlantEquipment2017-10-272018-12-31SC580052bus:OrdinaryShareClass12017-10-272018-12-31SC580052bus:OrdinaryShareClass12018-12-31SC580052bus:PrivateLimitedCompanyLtd2017-10-272018-12-31SC580052bus:FRS1022017-10-272018-12-31SC580052bus:AuditExemptWithAccountantsReport2017-10-272018-12-31SC580052bus:SmallCompaniesRegimeForAccounts2017-10-272018-12-31SC580052bus:CompanySecretary12017-10-272018-12-31SC580052bus:FullAccounts2017-10-272018-12-31xbrli:purexbrli:sharesiso4217:GBP