J.A. Pye (Oxford) Homes Limited - Filleted accounts

J.A. PYE (OXFORD) HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2019

Company Registration Number: 01142242

J.A. PYE (OXFORD) HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
CONTENTS									PAGES
Company information									1
Balance sheet									2 to 3
Notes to the financial statements									4 to 7

J.A. PYE (OXFORD) HOMES LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2019
DIRECTORS
G A Flint
P E Rivers
J S Stubbings
D S Tallon
SECRETARY
A D Price
REGISTERED OFFICE
Langford Locks
Kidlington
Oxfordshire
OX5 1HZ
COMPANY REGISTRATION NUMBER
01142242 England and Wales

J.A. PYE (OXFORD) HOMES LIMITED
BALANCE SHEET
AS AT 31 March 2019
			Notes		2019				2018
					£				£
FIXED ASSETS
Investments			5				5,000				5,000
CURRENT ASSETS
Stock					3				3
Debtors			6		823,876				741,574
Cash at bank and in hand					42,383				57,361
					866,262				798,938
CREDITORS: Amounts falling due within one year			7		518,191				482,008
NET CURRENT ASSETS							348,071				316,930
TOTAL ASSETS LESS CURRENT LIABILITIES							353,071				321,930
Provisions for liabilities and charges							1,950				-
NET ASSETS							351,121				321,930
CAPITAL AND RESERVES
Called up share capital							500,000				500,000
Distributable profit and loss account							(148,879)				(178,070)
SHAREHOLDERS' FUNDS							351,121				321,930
These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
G A Flint
Director
Date approved by the board: 20 December 2019

J.A. PYE (OXFORD) HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
1	GENERAL INFORMATION
	J.A. Pye (Oxford) Homes Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
	Langford Locks
	Kidlington
	Oxfordshire
	OX5 1HZ
	The financial statements are presented in Sterling, which is the functional currency of the company.
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of preparation of financial statements
	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
	Investments

	Investments in subsidiaries are shown at cost less accumulated impairment losses.

	Financial Instruments
	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
	Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

	Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

	Stock and work in progress

Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises materials, direct labour and an appropriate proportion of production overheads relevant to the stage of construction.

	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors
	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
	Taxation
	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.
	Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

	Current and deferred tax assets and liabilities are not discounted.
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
	Foreign currencies

	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
	Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the rate of exchange prevailing at that date. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit or loss.

3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

4	EMPLOYEES
	The average number of persons employed by the company (including directors) during the year was:
									2019		2018
	Average number of employees								4		4
5	FIXED ASSET INVESTMENTS
										Investment in subsidiaries
											£
	Cost
	At 1 April 2018										5,000
	At 31 March 2019										5,000
	Net book value
	At 1 April 2018										5,000
	At 31 March 2019										5,000
6	DEBTORS
									2019		2018
									£		£
	Other debtors								823,876		741,574
7	CREDITORS: Amounts falling due within one year
									2019		2018
									£		£
	Taxation and social security								4,898		-
	Accruals and deferred income								1,801		1,801
	Other creditors								511,492		480,207
									518,191		482,008