PHILBERT_LIMITED - Accounts

PHILBERT LIMITED - Company Information

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Company Registration No. 06914781 (England and Wales)

PHILBERT LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2014

PHILBERT LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PHILBERT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

5,489

6,496

Current assets

Debtors

196,626

122,972

Cash at bank and in hand

186,873

167,444

383,499

290,416

Creditors: amounts falling due within one year

(79,793)

(68,749)

Net current assets

303,706

221,667

Total assets less current liabilities

309,195

228,163

Provisions for liabilities

(443)

(465)

308,752

227,698

Capital and reserves

Called up share capital

Profit and loss account

308,751

227,697

Shareholders' funds

308,752

227,698

For the financial year ended 30 June 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 26 March 2015

S McQueen

Director

Company Registration No. 06914781

PHILBERT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

20% reducing balance

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

PHILBERT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 July 2013

14,668

Additions

400

At 30 June 2014

15,068

Depreciation

At 1 July 2013

8,171

Charge for the year

1,408

At 30 June 2014

9,579

Net book value

At 30 June 2014

5,489

At 30 June 2013

6,496

Share capital

2014

2013

Allotted, called up and fully paid

1 Ordinary share of £1 each

Related party relationships and transactions

The company provided the following directors with loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

S McQueen

3.75

64,972

225,385

4,123

247,615

46,865

64,972

225,385

4,123

247,615

46,865