Phil Bessant Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07925162 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2019

for

Phil Bessant Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P M Bessant FCMA CGMA

Mrs K J Bessant

REGISTERED OFFICE:

72 Caerau Road

Newport

NP20 4HJ

REGISTERED NUMBER:

07925162 (England and Wales)

ACCOUNTANTS:

Phil Bessant Limited

Chartered Management Accountants

72 Caerau Road

Newport

SOUTH WALES

NP20 4HJ

FIXED ASSETS

Intangible assets

4

8,500

11,000

Tangible assets

5

23,086

16,523

31,586

27,523

CURRENT ASSETS

Stocks

25,000

24,500

Debtors

6

88,696

62,618

Cash at bank and in hand

58,630

51,314

172,326

138,432

CREDITORS

Amounts falling due within one year

7

97,921

90,268

NET CURRENT ASSETS

74,405

48,164

TOTAL ASSETS LESS CURRENT LIABILITIES

105,991

75,687

CREDITORS

Amounts falling due after more than one year

8

14,868

20,818

NET ASSETS

91,123

54,869

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

10,000

10,000

Retained earnings

81,023

44,769

SHAREHOLDERS' FUNDS

91,123

54,869

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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.

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 Board of Directors on 30 October 2019 and were signed on its behalf by:

Mrs K J Bessant - Director

P M Bessant FCMA CGMA - Director

1.	STATUTORY INFORMATION

Phil Bessant 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

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.

Computer Equipment and Fixtures & Fittings 25% Straight Line

Stocks

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2018

and 31 January 2019

25,000

AMORTISATION

At 1 February 2018

14,000

Charge for year

2,500

At 31 January 2019

16,500

NET BOOK VALUE

At 31 January 2019

8,500

At 31 January 2018

11,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2018

63,190

Additions

18,817

At 31 January 2019

82,007

DEPRECIATION

At 1 February 2018

46,667

Charge for year

12,254

At 31 January 2019

58,921

NET BOOK VALUE

At 31 January 2019

23,086

At 31 January 2018

16,523

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade debtors

73,481

44,748

Other debtors

15,215

17,870

88,696

62,618

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Bank loans and overdrafts

3,396

2,887

Trade creditors

22,976

21,247

Taxation and social security

50,189

54,898

Other creditors

21,360

11,236

97,921

90,268

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.19

31.1.18

£

£

Bank loans

14,868

20,818