John, George Pimm & Sons Limited Filleted accounts for Companies House (small and micro)

JOHN,GEORGE PIMM & SONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 680638

John, George Pimm & Sons Limited

Filleted Unaudited Abridged Financial Statements

31 March 2019

John, George Pimm & Sons Limited

Balance Sheet

31 March 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5		978,376	969,922

Current assets

Stocks	109,542	91,800
Debtors	208,631	183,944
Cash at bank and in hand	284	3,092
	---------	---------
	318,457	278,836

Creditors: amounts falling due within one year	531,818		436,450
	---------		---------
Net current liabilities		213,361	157,614
		---------	---------
Total assets less current liabilities		765,015	812,308

Creditors: amounts falling due after more than one year	6	613,353	645,177
		---------	---------
Net assets		151,662	167,131
		---------	---------

Capital and reserves

Called up share capital	1,212	1,212
Revaluation reserve	15,507	15,507
Profit and loss account	134,943	150,412
	---------	---------
Shareholders funds	151,662	167,131
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged profit and loss account has not been delivered.

For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged profit and loss account and the balance sheet for the year ending 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

John, George Pimm & Sons Limited

Balance Sheet (continued)

31 March 2019

These abridged financial statements were approved by the board of directors and authorised for issue on 30 December 2019 , and are signed on behalf of the board by:

D R Pimm

Director

Company registration number: 680638

John, George Pimm & Sons Limited

Notes to the Abridged Financial Statements

Year ended 31 March 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Church Street, Eynsham, Oxford, OX29 4HP.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents revenue recognised in respect of services provided during the period, stated net of value added tax. Revenue and profit from the sale of buildings is recognised when contracts are exchanged and the work is physically complete.

Deferred taxation

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Equipment and fittings	-	10% straight line

Land and buildings are not depreciated as the directors consider that they have an unlimited useful life .

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

The company operates a defined contribution scheme for the benefit of some of its employees. Contributions payable are recognised in the profit and loss account when due.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 18 (2018: 18 ).

5. Tangible assets

	£
Cost
At 1 April 2018	1,039,325
Additions	45,513
	-----------
At 31 March 2019	1,084,838
	-----------
Depreciation
At 1 April 2018	69,403
Charge for the year	37,059
	-----------
At 31 March 2019	106,462
	-----------
Carrying amount
At 31 March 2019	978,376
	-----------
At 31 March 2018	969,922
	-----------

6. Creditors: amounts falling due after more than one year

Loans outstanding at the year-end include instalments due after more than five years of £400,500 (2018 - £446,167). These loans are secured by a charge on various freehold properties owned by the company.