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REGISTERED NUMBER: 09271795 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

M & J Pyne (Wholesale Division) Limited

M & J Pyne (Wholesale Division) Limited (Registered number: 09271795)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M & J Pyne (Wholesale Division) Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: M P Pyne
Mrs J A Pyne





REGISTERED OFFICE: Rumwell Hall
Rumwell
Taunton
Somerset
TA4 1EL





REGISTERED NUMBER: 09271795 (England and Wales)





ACCOUNTANTS: GSS Accountants Limited
Rumwell Hall
Rumwell
Taunton
Somerset
TA4 1EL

M & J Pyne (Wholesale Division) Limited (Registered number: 09271795)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,664,887 1,664,118

CURRENT ASSETS
Stocks 74,626 78,382
Debtors 5 366,547 258,120
Cash at bank and in hand 45,182 156,561
486,355 493,063
CREDITORS
Amounts falling due within one year 6 275,438 356,605
NET CURRENT ASSETS 210,917 136,458
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,875,804

1,800,576

CREDITORS
Amounts falling due after more than one
year

7

(971,673

)

(1,019,114

)

PROVISIONS FOR LIABILITIES (8,205 ) (6,376 )
NET ASSETS 895,926 775,086

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 895,826 774,986
895,926 775,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

M & J Pyne (Wholesale Division) Limited (Registered number: 09271795)

Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2024 and were signed on its behalf by:





Mrs J A Pyne - Director


M & J Pyne (Wholesale Division) Limited (Registered number: 09271795)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

M & J Pyne (Wholesale Division) 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

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 - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

M & J Pyne (Wholesale Division) Limited (Registered number: 09271795)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 1,602,217 112,762 20,359 6,679 1,742,017
Additions - 10,000 - 857 10,857
At 31 October 2023 1,602,217 122,762 20,359 7,536 1,752,874
DEPRECIATION
At 1 November 2022 - 60,433 12,496 4,970 77,899
Charge for year - 8,271 1,206 611 10,088
At 31 October 2023 - 68,704 13,702 5,581 87,987
NET BOOK VALUE
At 31 October 2023 1,602,217 54,058 6,657 1,955 1,664,887
At 31 October 2022 1,602,217 52,329 7,863 1,709 1,664,118

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 301,133 232,403
Amounts owed by group undertakings 61,238 23,374
VAT 3,290 1,177
Prepayments and accrued income 886 1,166
366,547 258,120

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 49,684 134,084
Trade creditors 166,036 170,659
Tax 33,524 31,332
Social security and other taxes 3,363 2,873
Other creditors 846 589
Accruals and deferred income 21,985 17,068
275,438 356,605

M & J Pyne (Wholesale Division) Limited (Registered number: 09271795)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 49,684 49,684
Bank loans - 2-5 years 385,048 434,732
Amounts owed to group undertakings 536,941 534,698
971,673 1,019,114

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 484,416 618,500

The Handlesbanken bank loan is secured on the company's freehold property.