Steve Pye & Co (KL) Limited - Limited company accounts 18.2

REGISTERED NUMBER: 08541522 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 June 2018

for

Steve Pye & Co (KL) Limited

Page

Company Information

1

Report of the Directors

2

Chartered Certified Accountants' Report

3

Statement of Income and Retained Earnings

4

Balance Sheet

5

Notes to the Financial Statements

7

DIRECTORS:

Mrs M R Stollery

Mr S E Pye

SECRETARY:

Mrs C M Pye

REGISTERED OFFICE:

49 Castle Rising Road

South Wootton

King's Lynn

Norfolk

PE30 3JA

REGISTERED NUMBER:

08541522 (England and Wales)

ACCOUNTANTS:

Steve Pye & Co.

Chartered Certified Accountants

The Pink House

Estuary Road

King's Lynn

Norfolk

PE30 2HJ

The directors present their report with the financial statements of the company for the year ended 30 June 2018.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of accountancy services.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2017 to the date of this report.

Mrs M R Stollery

Mr S E Pye

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr S E Pye - Director

19 December 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Steve Pye & Co (KL) Limited for the year ended 30 June 2018 which comprise the Statement of

Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Steve Pye & Co (KL) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Steve Pye & Co (KL) Limited and state those matters that we have agreed to state to the Board of Directors of Steve Pye & Co (KL) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Steve Pye & Co (KL) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Steve Pye & Co (KL) Limited. You consider that Steve Pye & Co (KL) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Steve Pye & Co (KL) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Steve Pye & Co.

Chartered Certified Accountants

The Pink House

Estuary Road

King's Lynn

Norfolk

PE30 2HJ

22 March 2019

TURNOVER

631,453

597,238

Cost of sales

23,815

15,958

GROSS PROFIT

607,638

581,280

Administrative expenses

451,267

383,730

OPERATING PROFIT

156,371

197,550

Interest receivable and similar income

79

32

PROFIT BEFORE TAXATION

156,450

197,582

Tax on profit

37,088

31,699

PROFIT FOR THE FINANCIAL YEAR

119,362

165,883

Retained earnings at beginning of year

173,377

127,494

Dividends

(261,000

)

(120,000

)

RETAINED EARNINGS AT END OF YEAR

31,739

173,377

FIXED ASSETS

Intangible assets

4

10,544

14,058

Tangible assets

5

6,666

7,278

17,210

21,336

CURRENT ASSETS

Stock & Work In Progress

23,499

26,945

Debtors

6

131,121

101,175

Cash at bank and in hand

25,168

115,169

179,788

243,289

CREDITORS

Amounts falling due within one year

7

163,889

89,762

NET CURRENT ASSETS

15,899

153,527

TOTAL ASSETS LESS CURRENT LIABILITIES

33,109

174,863

PROVISIONS FOR LIABILITIES

1,267

1,383

NET ASSETS

31,842

173,480

CAPITAL AND RESERVES

Called up share capital

103

103

Retained earnings

31,739

173,377

31,842

173,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 19 December 2018 and were signed on its behalf by:

Mr S E Pye - Director

Mrs M R Stollery - Director

1.	STATUTORY INFORMATION

Steve Pye & Co (KL) 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 the provisions of Section 1A "Small Entities" of 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the

estimated expected useful life of the goodwill of 5 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stock & work in progress to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2017

and 30 June 2018

17,573

AMORTISATION

At 1 July 2017

3,515

Charge for year

3,514

At 30 June 2018

7,029

NET BOOK VALUE

At 30 June 2018

10,544

At 30 June 2017

14,058

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2017

12,923

Additions

1,610

At 30 June 2018

14,533

DEPRECIATION

At 1 July 2017

5,645

Charge for year

2,222

At 30 June 2018

7,867

NET BOOK VALUE

At 30 June 2018

6,666

At 30 June 2017

7,278

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

108,284

96,908

Other debtors

22,837

4,267

131,121

101,175

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

8,316

1,817

Taxation and social security

66,048

66,656

Other creditors

89,525

21,289

163,889

89,762