Abbreviated Company Accounts - PHILLIP W.KEEN LIMITED

PHILLIP W.KEEN LIMITED - Company Information

Registered Number 01034137

PHILLIP W.KEEN LIMITED

Abbreviated Accounts

31 December 2014

PHILLIP W.KEEN LIMITED Registered Number 01034137

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	21,250	24,000
Tangible assets	3	50,844	54,733
		72,094	78,733
Current assets
Stocks		26,885	9,085
Debtors		482,546	484,231
Cash at bank and in hand		21,356	6,564
		530,787	499,880
Creditors: amounts falling due within one year		(108,946)	(80,699)
Net current assets (liabilities)		421,841	419,181
Total assets less current liabilities		493,935	497,914
Creditors: amounts falling due after more than one year		(223,005)	(231,713)
Total net assets (liabilities)		270,930	266,201
Capital and reserves
Called up share capital		100	100
Profit and loss account		270,830	266,101
Shareholders' funds		270,930	266,201

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
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 for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 10 February 2015

And signed on their behalf by:
J Snooks, Director

PHILLIP W.KEEN LIMITED Registered Number 01034137

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off cost less residual value of each asset over its expected useful life, as follows:
Plant & machinery-
Motor vehicles- 25% written down value

Intangible assets amortisation policy
Goodwill.
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 13 years.

2Intangible fixed assets

	£
Cost
At 1 January 2014	35,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	35,000
Amortisation
At 1 January 2014	11,000
Charge for the year	2,750
On disposals	-
At 31 December 2014	13,750
Net book values
At 31 December 2014	21,250
At 31 December 2013	24,000

3Tangible fixed assets

	£
Cost
At 1 January 2014	296,152
Additions	22,295
Disposals	(3,000)
Revaluations	(127,949)
Transfers	-
At 31 December 2014	187,498
Depreciation
At 1 January 2014	241,419
Charge for the year	23,184
On disposals	(127,949)
At 31 December 2014	136,654
Net book values
At 31 December 2014	50,844
At 31 December 2013	54,733