Phil Goodman Computer Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06485547 (England and Wales)

PHIL GOODMAN COMPUTER SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

P J Goodman

Mrs S Goodman

SECRETARY:

Mrs S Goodman

REGISTERED OFFICE:

255 Green Lanes

Palmers Green

London

N13 4XE

REGISTERED NUMBER:

06485547 (England and Wales)

ACCOUNTANTS:

John Crook & Partners

Chartered Accountants

255 Green Lanes

Palmers Green

London

N13 4XE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,019

8,416

8,019

8,416

CURRENT ASSETS

Debtors

6

3,399

2,439

Cash at bank

73,764

68,523

77,163

70,962

CREDITORS

Amounts falling due within one year

7

30,684

28,462

NET CURRENT ASSETS

46,479

42,500

TOTAL ASSETS LESS CURRENT LIABILITIES

54,498

50,916

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

54,398

50,816

SHAREHOLDERS' FUNDS

54,498

50,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2020 and were signed on its behalf by:

P J Goodman - Director

Mrs S Goodman - Director

1.	STATUTORY INFORMATION

Phil Goodman Computer Services 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 invoiced sales of services net of flat rate value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten 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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

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

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 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2019

and 31 August 2020

60,000

AMORTISATION

At 1 September 2019

and 31 August 2020

60,000

NET BOOK VALUE

At 31 August 2020

-

At 31 August 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 September 2019

12,846

18,600

31,446

Additions

2,381

-

2,381

Disposals

(1,447

)

-

(1,447

)

At 31 August 2020

13,780

18,600

32,380

DEPRECIATION

At 1 September 2019

11,135

11,895

23,030

Charge for year

815

1,676

2,491

Eliminated on disposal

(1,160

)

-

(1,160

)

At 31 August 2020

10,790

13,571

24,361

NET BOOK VALUE

At 31 August 2020

2,990

5,029

8,019

At 31 August 2019

1,711

6,705

8,416

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

3,399

2,437

Other debtors

-

2

3,399

2,439

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

139

259

Tax

18,277

18,697

Social security and other taxes

1,118

-

Value added tax

7,080

6,724

Directors' loan accounts

2,585

1,347

Sundry creditors and accruals

1,485

1,435

30,684

28,462

8.	POST BALANCE SHEET EVENTS

Since the year end the economy has been severely disrupted with the impact of the Coronavirus. The company has continued to trade through the current crisis and whilst it has had an impact on the company's activities the company continues to trade. Whilst the pandemic will have an impact on the company's results it has hard to quantify at this stage the full impact of the economic crisis but the company continues to trade as a going concern.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by P J Goodman and Mrs S M Goodman, the directors and shareholders in the company.