P J Livesey North Limited - Limited company accounts 18.2

P J Livesey North Limited - Limited company accounts 18.2


IRIS Accounts Productionv19.3.2.19904339759Board of Directors1.7.1830.6.1930.6.19an intermediate parent company.truefalsetruetruefalsefalsetruefalseOrdinary1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure043397592018-06-30043397592019-06-30043397592018-07-012019-06-30043397592017-06-30043397592017-07-012018-06-30043397592018-06-3004339759ns15:EnglandWales2018-07-012019-06-3004339759ns14:PoundSterling2018-07-012019-06-3004339759ns10:Director12018-07-012019-06-3004339759ns10:PrivateLimitedCompanyLtd2018-07-012019-06-3004339759ns10:FRS1022018-07-012019-06-3004339759ns10:Audited2018-07-012019-06-3004339759ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2018-07-012019-06-3004339759ns10:LargeMedium-sizedCompaniesRegimeForAccounts2018-07-012019-06-3004339759ns10:FullAccounts2018-07-012019-06-3004339759ns10:OrdinaryShareClass12018-07-012019-06-3004339759ns10:Director22018-07-012019-06-3004339759ns10:Director32018-07-012019-06-3004339759ns10:Director42018-07-012019-06-3004339759ns10:Director72018-07-012019-06-3004339759ns10:Director82018-07-012019-06-3004339759ns10:Director102018-07-012019-06-3004339759ns10:CompanySecretary12018-07-012019-06-3004339759ns10:RegisteredOffice2018-07-012019-06-3004339759ns10:Director52018-07-012019-06-3004339759ns10:Director62018-07-012019-06-3004339759ns10:Director92018-07-012019-06-3004339759ns5:ShareCapital2019-06-3004339759ns5:ShareCapital2018-06-3004339759ns5:RetainedEarningsAccumulatedLosses2019-06-3004339759ns5:RetainedEarningsAccumulatedLosses2018-06-3004339759ns5:ShareCapital2017-06-3004339759ns5:RetainedEarningsAccumulatedLosses2017-06-3004339759ns5:CostValuation2018-06-3004339759ns5:Subsidiary42018-07-012019-06-30043397597ns5:Subsidiary42018-07-012019-06-3004339759ns5:Subsidiary52018-07-012019-06-30043397599ns5:Subsidiary52018-07-012019-06-3004339759ns5:Subsidiary72018-07-012019-06-3004339759ns5:Subsidiary7132018-07-012019-06-3004339759ns5:CurrentFinancialInstruments2019-06-3004339759ns5:CurrentFinancialInstruments2018-06-3004339759ns10:OrdinaryShareClass12019-06-3004339759ns5:RetainedEarningsAccumulatedLosses2018-06-3004339759ns5:RetainedEarningsAccumulatedLosses2018-07-012019-06-30


REGISTERED NUMBER: 04339759(England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2019

FOR

P J LIVESEY NORTH LIMITED

P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2019










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


P J LIVESEY NORTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2019







DIRECTORS: Mr P J Livesey
Mrs D A Livesey
Mr R Brocklehurst
Mr J N D Woodmansee
Mr M Duckett
Mrs G A Lynch
Mr C D Lynch


SECRETARY: Mrs D A Livesey


REGISTERED OFFICE: Ashburton Park
Ashburton Road West
Trafford Park
Manchester
M17 1AF


REGISTERED NUMBER: 04339759(England and Wales)


AUDITORS: Ainsworths Limited
Chartered Accountants
and Statutory Auditors
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY


BANKERS: Santander
298 Deansgate
Manchester
M3 4HH

P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

STRATEGIC REPORT
FOR THE YEAR ENDED 30TH JUNE 2019


The directors present their strategic report for the year ended 30th June 2019.

REVIEW OF BUSINESS
The company is an intermediate holding company, and has not traded during the current year.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors believe there are negligible external risks to which the company is exposed as the only debtor relates to an
amount due from a fellow subsidiary within the group.

ON BEHALF OF THE BOARD:





Mrs G A Lynch- Director


26th March 2020

P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH JUNE 2019


The directors present their report with the financial statements of the company for the year ended 30th June 2019.

DIVIDENDS
No dividends will be distributed for the year ended 30th June 2019.

FUTURE DEVELOPMENTS
No significant changes to the company's dormant status are anticipated.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st July 2018 to the date of this report.

Mr P J Livesey
Mrs D A Livesey
Mr R Brocklehurst
Mr J N D Woodmansee
Mrs G A Lynch

Other changes in directors holding office are as follows:

Mr J W Allcock- resigned 10th November 2018
Mr P G Richardson- resigned 8th October 2018
Mr M Duckett- appointed 22nd October 2018
Mr G W Graves- appointed 22nd October 2018 - resigned 1st February 2019
Mr C D Lynch- appointed 22nd October 2018

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements
in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the
company and of the profit or loss of the company for that period. In preparing these financial statements, the directors
are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will
continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act
2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have
taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the
company's auditors are aware of that information.

P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH JUNE 2019


AUDITORS
The auditors, Ainsworths Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mrs G A Lynch- Director


26th March 2020

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
P J LIVESEY NORTH LIMITED


Opinion
We have audited the financial statements of P J Livesey North Limited (the 'company') for the year ended
30th June 2019 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of
Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the
UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30th June 2019;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the
financial statements section of our report. We are independent of the company in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard,
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to
you where:
- the directors' use of the going concern basis of accounting in the preparation of the financial statements is not
appropriate; or
- the directors have not disclosed in the financial statements any identified material uncertainties that may cast
significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period
of at least twelve months from the date when the financial statements are authorised for issue.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic
Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors
thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing
so, consider whether the other information is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether there is a material misstatement in the financial
statements or a material misstatement of the other information. If, based on the work we have performed, we conclude
that there is a material misstatement of this other information, we are required to report that fact. We have nothing to
report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the
financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal
requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
P J LIVESEY NORTH LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit,
we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you
if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are
responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and
for such internal control as the directors determine necessary to enable the preparation of financial statements that are
free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic
alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with
ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's
members as a body, for our audit work, for this report, or for the opinions we have formed.




Michael Heys(Senior Statutory Auditor)
for and on behalf of Ainsworths Limited
Chartered Accountants
and Statutory Auditors
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

26th March 2020

P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

INCOME STATEMENT
FOR THE YEAR ENDED 30TH JUNE 2019

30.6.19 30.6.18
Notes £    £   

TURNOVER - -
OPERATING PROFIT and
PROFIT BEFORE TAXATION - -

Tax on profit 5 - -
PROFIT FOR THE FINANCIAL YEAR - -

P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30TH JUNE 2019

30.6.19 30.6.18
Notes £    £   

PROFIT FOR THE YEAR - -


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

-

-

P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

BALANCE SHEET
30TH JUNE 2019

30.6.19 30.6.18
Notes £    £    £    £   
FIXED ASSETS
Investments 6 104 104

CURRENT ASSETS
Debtors 7 148,167 148,167
NET CURRENT ASSETS 148,167 148,167
TOTAL ASSETS LESS CURRENT
LIABILITIES

148,271

148,271

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 148,270 148,270
SHAREHOLDERS' FUNDS 148,271 148,271

The financial statements were approved by the Board of Directors on 26th March 2020and were signed on its behalf by:





Mrs G A Lynch- Director


P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH JUNE 2019

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1st July 2017 1 148,270 148,271

Changes in equity
Balance at 30th June 2018 1 148,270 148,271

Changes in equity
Balance at 30th June 2019 1 148,270 148,271

P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2019


1. STATUTORY INFORMATION

P J Livesey North Limited is a private company, limited by shares, registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements,
as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements
The financial statements contain information about P J Livesey North Limited as an individual company and do
not contain consolidated financial information as the parent of a group. The company is exempt under Section
400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its
subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent,
P. J. Livesey Holdings Limited, Ashburton Park, Ashburton Road West, Trafford Park, Manchester, M17 1AF.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
Preparation of the financial statements requires management to consider any significant judgements and
estimates.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2019


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual
provisions of the instrument.

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.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except
for those financial assets classified as at fair value through profit and loss, which are initially measured at fair
value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a
financing transaction. If an arrangement constitutes a financing transaction the financial asset or liability is
measured at the present value of the future payments discounted at a market rate of interest for a similar debt
instrument.

The following assets and liabilities are classified as financial instruments:
Investments in subsidiaries, trade debtors, trade creditors, hire purchase contracts, bank loans, directors' loans
and inter group balances.

Trade debtors, trade creditors, and directors' loans and inter group balances (being repayable on demand) are
measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Hire purchase contracts and bank loans are initially measured at the present value of future payments, discounted
at a market rate of interest and subsequently at amortised cost using the effective interest method.

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If
objective evidence of impairment is found an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 30th June 2019 nor the year ended 30th June 2018.

The average number of employees and directors during the year was 7 (2018 - 7).

4. OPERATING PROFIT

Auditors' remuneration is recognised in the Income Statement of the ultimate parent company, P.J. Livesey
Holdings Limited.

5. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30th June 2019 nor for the year ended
30th June 2018.

P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2019


6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1st July 2018
and 30th June 2019 104
NET BOOK VALUE
At 30th June 2019 104
At 30th June 2018 104

The company's investments at the Balance Sheet date in the share capital of companies include the following:


P. J. Livesey Living Space Limited
Registered office: Ashburton Park, Ashburton Road West, Trafford Park, Manchester, M17 1AF
Nature of business: Construction of residential property
%
Class of shares: holding
Ordinary 100.00

P. J. Livesey Heritage Homes North West Limited
Registered office: Ashburton Park, Ashburton Road West, Trafford Park, Manchester, M17 1AF
Nature of business: Construction of residential property
%
Class of shares: holding
Ordinary 100.00

P. J. Livesey Living Space (North) Limited
Registered office: Ashburton Park, Ashburton Road West, Trafford Park, Manchester, M17 1AF
Nature of business: Construction of residential property
%
Class of shares: holding
Ordinary 100.00

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.19 30.6.18
£    £   
Amounts owed by group undertakings 148,167 148,167

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 30.6.19 30.6.18
value: £    £   
1 Ordinary £1 1 1

P J LIVESEY NORTH LIMITED (REGISTERED NUMBER: 04339759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2019


9. RESERVES
Retained
earnings
£   

At 1st July 2018 148,270
Profit for the year -
At 30th June 2019 148,270

10. ULTIMATE PARENT COMPANY

The ultimate parent company is P.J. Livesey Holdings Limited, a company which is incorporated in England.
Copies of the financial statements are available from Companies House.

11. CONTINGENT LIABILITIES

The company has guaranteed the bank borrowings of parent undertakings and some of its fellow subsidiaries.
There are fixed and floating charges over all property of the company in respect of these bank borrowings. At
30th June 2019 the net bank borrowings were £8,556,116 (2018: £8,545,572).

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr P J Livesey, by virtue of his controlling interest in the ultimate
parent company, P.J. Livesey Holdings Limited.