Frederick Phelps Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04646599 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

FREDERICK PHELPS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M Strnad

REGISTERED OFFICE:

34 Conway Road

Southgate

London

N14 7BA

REGISTERED NUMBER:

04646599 (England and Wales)

ACCOUNTANTS:

EA

Chartered Accountants

869 High Road

London

N12 8QA

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

2,610

2,648

2,611

2,649

CURRENT ASSETS

Stocks

10,894

73,216

Debtors

6

421

6,030

Cash at bank and in hand

25,547

14,135

36,862

93,381

CREDITORS

Amounts falling due within one year

7

36,213

92,786

NET CURRENT ASSETS

649

595

TOTAL ASSETS LESS CURRENT LIABILITIES

3,260

3,244

CAPITAL AND RESERVES

Called up share capital

6

6

Retained earnings

3,254

3,238

SHAREHOLDERS' FUNDS

3,260

3,244

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director on 19 September 2019 and were signed by:

Mr M Strnad - Director

1.	STATUTORY INFORMATION

Frederick Phelps 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 represents net invoiced sales of goods and services, excluding value added tax.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance.

Motor vehicles

-

25% on reducing balance.

Computer equipment

-

25% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

1

NET BOOK VALUE

At 31 March 2019

1

At 31 March 2018

1

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2018

32,517

1,364

8,035

41,916

Additions

-

-

832

832

At 31 March 2019

32,517

1,364

8,867

42,748

DEPRECIATION

At 1 April 2018

30,460

1,364

7,444

39,268

Charge for year

514

-

356

870

At 31 March 2019

30,974

1,364

7,800

40,138

NET BOOK VALUE

At 31 March 2019

1,543

-

1,067

2,610

At 31 March 2018

2,057

-

591

2,648

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

5,372

Other debtors

421

658

421

6,030

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

-

61,713

Trade creditors

8,416

17,410

Taxation and social security

760

547

Other creditors

27,037

13,116

36,213

92,786

8.	RELATED PARTY DISCLOSURES

Included in creditors falling due within one year is an interest free amount of £14,920 (2018: £1,791) owed to the

director, Mr M Strnad.

9.	ULTIMATE CONTROLLING PARTY