Company registration number: 09526048
Unaudited financial statements
for the year ended 30 April 2024
for
Pye Builders Ltd
Pages for filing with the Registrar
Company registration number: 09526048
Pye Builders Ltd
Balance sheet
as at 30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 165,942 216,211
165,942 216,211
Current assets
Stocks - 1,100,000
Debtors 2,168,212 753,325
Cash at bank and in hand 49,841 447,660
2,218,053 2,300,985
Creditors: amounts falling due within one
year
(2,281,147) (115,170)
Net current (liabilities)/assets (63,094) 2,185,815
Total assets less current liabilities 102,848 2,402,026
Creditors: Amounts falling due after more
than one year
5 (82,563) (2,370,345)
NET ASSETS 20,285 31,681
Capital and reserves
Called up share capital 4 4
Profit and loss account 20,281 31,677
TOTAL EQUITY 20,285 31,681
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 April 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 09526048
Pye Builders Ltd
Balance sheet - continued
as at 30 April 2024
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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 24 February 2025 and signed on its behalf by:
M Pye, Director
24 February 2025
2
Pye Builders Ltd
Notes to the financial statements
for the year ended 30 April 2024
1 Company information
Pye Builders Ltd is a private company registered in England and Wales. Its registered number is 09526048. The company is limited by shares. Its registered office is Unit D10 Upper Lounge, Pinetrees Road, NORWICH, Norfolk, NR7 9BB.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 25% straight line
Motor vehicles - 25% reducing balance
Computer equipment - 25% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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 stocks to their present location and condition.
3
Pye Builders Ltd
Notes to the financial statements - continued
for the year ended 30 April 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or lossover the relevant period. The capital element of the future payments is treated as a liability.
3 Average number of employees
During the year the average number of employees was 3 (2023 - 3).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 May 2023 526,279
Additions 49,718
At 30 April 2024 575,997
Depreciation
At 1 May 2023 310,068
Charge for year 99,987
At 30 April 2024 410,055
Net book value
At 30 April 2024 165,942
At 30 April 2023 216,211
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Pye Builders Ltd
Notes to the financial statements - continued
for the year ended 30 April 2024
5 Creditors: amounts falling due after more than five years
2024 2023
£ £
Repayable otherwise than by instalments
Bank loans 28,241 33,796
28,241 33,796
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