Registered number
08184953
James Pyle Limited
Accounts
For the Year Ended
31 August 2024
Oakensen
Chartered Accountants
Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
James Pyle Limited
Registered number: 08184953
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,400 1,500
Tangible assets 4 77,833 24,754
80,233 26,254
Current assets
Debtors 5 57,070 93,687
Cash at bank and in hand 296,571 372,432
353,641 466,119
Creditors: amounts falling due within one year 6 (95,132) (88,818)
Net current assets 258,509 377,301
Total assets less current liabilities 338,742 403,555
Creditors: amounts falling due after more than one year 7 (44,445) (27,811)
Provisions for liabilities (13,048) -
Net assets 281,249 375,744
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 280,249 374,744
Shareholders' funds 281,249 375,744
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The 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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D J Pyle
Director
Approved by the board on 28 March 2025
James Pyle Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is recognised when the property sale has completed.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not depreciated
Motor vehicles over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price, which is usually the invoice price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 11
3 Intangible fixed assets £
Goodwill and website:
Cost
At 1 September 2023 7,500
Additions 3,000
At 31 August 2024 10,500
Amortisation
At 1 September 2023 6,000
Provided during the year 2,100
At 31 August 2024 8,100
Net book value
At 31 August 2024 2,400
At 31 August 2023 1,500
Goodwill and website costs are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 17,759 26,346 10,743 54,848
Additions - 3,561 64,782 68,343
At 31 August 2024 17,759 29,907 75,525 123,191
Depreciation
At 1 September 2023 - 21,499 8,595 30,094
Charge for the year - 2,650 12,614 15,264
At 31 August 2024 - 24,149 21,209 45,358
Net book value
At 31 August 2024 17,759 5,758 54,316 77,833
At 31 August 2023 17,759 4,847 2,148 24,754
5 Debtors 2024 2023
£ £
Trade debtors 44,892 83,463
Amounts owed by group undertakings and undertakings in which the company has a participating interest 7,889 7,737
Other debtors 4,289 2,487
57,070 93,687
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 7,515 -
Trade creditors 6,631 8,653
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,421 331
Taxation and social security costs 78,142 77,074
Other creditors 1,423 2,760
95,132 88,818
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 4,674
Obligations under finance lease and hire purchase contracts 44,445 -
Other creditors - 23,137
44,445 27,811
8 Controlling party
The parent of the company is James Pyle Holdings Ltd. Its registered office is The Barn, Swan Barton, Sherston, Malmesbury, England, SN16 0LJ.
9 Other information
James Pyle Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Barn
Swan Barton
Sherston
Malmesbury
SN16 0LJ
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