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STEVE PYE & CO LTD - Company Information

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Steve Pye & Co Ltd

Registered Number:04600754

For the year ended 31 December 2016

England and Wales

Unaudited Financial Statements

As at 31 December 2016

Steve Pye & Co Ltd

Statement of Financial Position

Registered Number :

04600754

2015

2016

Notes

Fixed assets

Intangible assets

13,049

374,499

Property, plant and equipment

357,623

372,760

303,618

Investment property

674,290

1,050,877

Current assets

Trade and other receivables

15,490

8,629

24,197

Cash and cash equivalents

26,244

34,873

39,687

Trade and other payables: amounts falling due within one year

(80,192)

(70,200)

(40,505)

(35,327)

Net current liabilities

Total assets less current liabilities

638,963

1,010,372

Trade and other payables: amounts falling due after more than

one year

(267,004)

(250,577)

714

(1,106)

Provisions for liabilities

389,100

Net assets

742,262

Capital and reserves

Called up share capital

Revaluation reserve

23,400

380,000

Retained earnings

365,689

362,251

389,100

742,262

Shareholders' funds

For the year ended 31 December 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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

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For the year ended 31 December 2016

Steve Pye & Co Ltd

Statement of Financial Position Continued

Mr Stephen Pye Director

These financial statements were approved and authorised for issue by the Board on 31 July 2017 and were signed by:

The notes form part of these financial statements

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For the year ended 31 December 2016

Steve Pye & Co Ltd

Notes to the Financial Statements

Statutory Information

Steve Pye & Co Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number

04600754.

Registered address:

49 Castle Rising Road

South Wootton

King's Lynn

Norfolk

PE30 3JA

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as modified by the revaluation of certain

assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business and is being amortised evenly over its estimated useful life of 10 years.

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

25% Reducing balance

Office equipment

25% Reducing balance

Motor vehicles

25% Reducing balance

Fixtures and fittings

No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected useful

lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be

immaterial.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing commitments

The finance element of the rental payment is charged to the profit and loss account on a straight line basis.

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For the year ended 31 December 2016

Steve Pye & Co Ltd

Notes to the Financial Statements Continued

2. Intangible fixed assets

Goodwill

Cost or valuation

At 01 January 2016

388,635

Transfers

(360,000)

At 31 December 2016

28,635

Amortisation

At 01 January 2016

14,136

1,450

Charge for year

At 31 December 2016

15,586

Net book value

At 31 December 2016

13,049

At 31 December 2015

374,499

3. Property, plant and equipment

Total

Office

equipment

Fixtures and

fittings

Motor vehicles

Land and

buildings

Cost or valuation

At 01 January 2016

450,215

52,917

27,027

65,871

304,400

2,058

416

1,642

Additions

At 31 December 2016

65,871

27,027

53,333

452,273

306,042

Provision for depreciation and impairment

At 01 January 2016

77,455

37,820

23,167

16,468

Charge for year

17,195

3,879

965

12,351

At 31 December 2016

94,650

41,699

24,132

28,819

At 31 December 2016

Net book value

306,042

37,052

2,895

11,634

357,623

At 31 December 2015

304,400

49,403

3,860

15,097

372,760

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For the year ended 31 December 2016

Steve Pye & Co Ltd

Notes to the Financial Statements Continued

4. Investment property

Total

Fair value

At 01 January 2016

303,618

At 31 December 2016

303,618

Net book value

At 31 December 2016

303,618

At 31 December 2015

303,618

5. Trade and other receivables

2015

2016

Trade debtors

8,067

14,553

Amounts owed by group undertakings and participating interests

208

Other debtors

354

937

15,490

8,629

6. Trade and other payables: amounts falling due within one year

2015

2016

Bank loans and overdraft (secured)

10,834

Amounts owed to group undertaking and undertaking in which the company

has a participating interest

413

Taxation and social security

9,794

15,039

Other creditors

49,159

54,319

70,200

80,192

7. Trade and other payables: amounts falling due after more than one year

2015

2016

Bank loans and overdraft (secured)

215,242

226,323

Other creditors

35,335

40,681

250,577

267,004

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For the year ended 31 December 2016

Steve Pye & Co Ltd

Notes to the Financial Statements Continued

8. Reserves

Total

Revaluation reserve at 01 January 2016

380,000

Revaluation of fixed assets

(360,000)

Deferred tax provided on revaluation

3,400

23,400

Revaluation reserve at 31 December 2016

9. Related party transactions

Related party balances

Name: Mr and Mrs Pye, Mrs Stollery

Relationship: Directors

Current year: £42443

Previous year: £47273

Related Party Transactions

The debit movement of £4830 is represented by drawings.

The Company operates from property owned by Mr and Mrs Pye personally. Rent of £7200 was paid during the period. All

transactions were conducted at a fair market value.

10. Average number of persons employed

During the year the average number of employees was 6 including Directors.

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