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

J.A. PYE (OXFORD) HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2018

Company Registration Number: 01142242

J.A. PYE (OXFORD) HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
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 2018
DIRECTORS
G A Flint
P E Rivers
J S Stubbings
D S Tallon
SECRETARY
A D Price
REGISTERED OFFICE
Langford Locks
Kidlington
Oxford
Oxfordshire
OX5 1HZ
COMPANY REGISTRATION NUMBER
01142242 England and Wales

J.A. PYE (OXFORD) HOMES LIMITED
BALANCE SHEET
AS AT 31 March 2018
			Notes		2018				2017
					£				£
FIXED ASSETS
Investments			5				5,000				5,000
CURRENT ASSETS
Stock					3				3
Debtors			6		741,574				741,574
Cash at bank and in hand					57,361				26,354
					798,938				767,931
CREDITORS: Amounts falling due within one year			7		482,008				452,332
NET CURRENT ASSETS							316,930				315,599
NET ASSETS							321,930				320,599
CAPITAL AND RESERVES
Called up share capital							500,000				500,000
Distributable profit and loss account							(178,070)				(179,401)
SHAREHOLDERS' FUNDS							321,930				320,599
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 2018 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 2018

J.A. PYE (OXFORD) HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
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
	Oxford
	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…)
	Impairment of non-financial assets

	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.
	Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.
	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.

	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.
	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.

	Consolidation
	The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has therefore taken advantage of the option provided by section 399 of the Companies Act 2006 not to prepare group accounts.
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:
									2018		2017
	Average number of employees								4		4
5	FIXED ASSET INVESTMENTS
										Investment in subsidiaries
											£
	Cost
	At 1 April 2017										5,000
	At 31 March 2018										5,000
	Net book value
	At 1 April 2017										5,000
	At 31 March 2018										5,000
6	DEBTORS
									2018		2017
									£		£
	Other debtors								741,574		741,574
7	CREDITORS: Amounts falling due within one year
									2018		2017
									£		£
	Accruals and deferred income								1,801		3,501
	Other creditors								480,207		448,831
									482,008		452,332
8	RELATED PARTY TRANSACTIONS
	The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
	G Pye Holdings Limited			Ultimate parent
	J.A. Pye (Oxford) Holdings Limited			Immediate parent
	Duofarm Limited			Subsidiary company
	Grabgrange Limited			Subsidiary company
	Grabride Limited			Subsidiary company
	Shadowcell Limited			Subsidiary company