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

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

J.A. PYE (OXFORD) HOLDINGS LIMITED - Company Information

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J.A. PYE (OXFORD) HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2019
Company Registration Number: 01328106
J.A. PYE (OXFORD) HOLDINGS 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 6
J.A. PYE (OXFORD) HOLDINGS 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
01328106 England and Wales
J.A. PYE (OXFORD) HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 March 2019
Notes 2019 2018 (Restated)
£ £
FIXED ASSETS
Investments 5 1,377,692 1,377,692
CURRENT ASSETS
Debtors 6 3,243 3,243
CREDITORS: Amounts falling due within one year 7 14,219 14,219
NET CURRENT LIABILITIES (10,976) (10,976)
NET ASSETS 1,366,716 1,366,716
CAPITAL AND RESERVES
Called up share capital 1,778,062 1,778,062
Share premium account 161,200 161,200
Distributable profit and loss account (1,566,211) (1,566,211)
Capital redemption reserve 993,665 993,665
SHAREHOLDERS' FUNDS 1,366,716 1,366,716
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) HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
1 GENERAL INFORMATION
J.A. Pye (Oxford) Holdings 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
The recoverability of the investment in J.A. Pye (Ontario) Limited is based on the long term sales value of the
land held within J.A. Pye (Onatrio) Limited. As such the recoverability of the investment held by the company
is inherently uncertain.The directors consider that the carrying value of this investment is recoverable based
on their assessment of the likely future sales value of the land held by J.A. Pye (Ontario) Limited.
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.
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.
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
Investments and loans
£
Cost
At 1 April 2018 1,377,692
At 31 March 2019 1,377,692
Net book value
At 1 April 2018 1,377,692
At 31 March 2019 1,377,692
6 DEBTORS
2019 2018
£ £
Other debtors 3,243 3,243
7 CREDITORS: Amounts falling due within one year
2019 2018
£ £
Other creditors 14,219 14,219
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