Phil Anderson Financial Services Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC409185 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

PHIL ANDERSON FINANCIAL SERVICES LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Anderson

REGISTERED OFFICE:

117 Ness Circle

Ellon

AB41 9BU

REGISTERED NUMBER:

SC409185 (Scotland)

ACCOUNTANTS:

Fyfe Moir & Associates

First Floor, 5 Abercrombie Court

Prospect Road, Arnhall Business Park

Westhill

Aberdeenshire

Grampian

AB32 6FE

FIXED ASSETS

Intangible assets

4

-

12

Tangible assets

5

12,091

15,424

12,091

15,436

CURRENT ASSETS

Debtors

6

94,209

72,063

Cash at bank

58,151

117,984

152,360

190,047

CREDITORS

Amounts falling due within one year

7

55,413

72,864

NET CURRENT ASSETS

96,947

117,183

TOTAL ASSETS LESS CURRENT LIABILITIES

109,038

132,619

PROVISIONS FOR LIABILITIES

8

2,297

2,931

NET ASSETS

106,741

129,688

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

106,641

129,588

SHAREHOLDERS' FUNDS

106,741

129,688

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 17 December 2019 and were signed by:

P Anderson - Director

1.	STATUTORY INFORMATION

Phil Anderson Financial Services Ltd. is a private company, limited by shares , registered in Scotland. 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 eight 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.

Improvements to property

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

20% on reducing balance

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 6 (2018 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2018

and 31 October 2019

100

AMORTISATION

At 1 November 2018

88

Amortisation for year

12

At 31 October 2019

100

NET BOOK VALUE

At 31 October 2019

-

At 31 October 2018

12

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2018

13,475

4,988

19,272

37,735

Additions

-

1,736

2,087

3,823

At 31 October 2019

13,475

6,724

21,359

41,558

DEPRECIATION

At 1 November 2018

9,257

2,227

10,827

22,311

Charge for year

3,368

1,681

2,107

7,156

At 31 October 2019

12,625

3,908

12,934

29,467

NET BOOK VALUE

At 31 October 2019

850

2,816

8,425

12,091

At 31 October 2018

4,218

2,761

8,445

15,424

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Prepayments and accrued income

94,209

72,063

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade creditors

1,533

1,554

Tax

37,899

53,511

Social security and other taxes

10,584

12,973

Other creditors

-

478

Directors' current accounts

2,262

1,170

Accrued expenses

3,135

3,178

55,413

72,864

8.	PROVISIONS FOR LIABILITIES

31.10.19

31.10.18

£

£

Deferred tax

2,297

2,931

Deferred

tax

£

Balance at 1 November 2018

2,931

movement in year

(634

)

Balance at 31 October 2019

2,297