Phoenix Analytical Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03910609 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2020

FOR

PHOENIX ANALYTICAL SERVICES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I P Dale

J E Dale

J S Dale

SECRETARY:

J S Dale

REGISTERED OFFICE:

Dean Hill Farm

Newcastle Road

Betchton

Sandbach

Cheshire

CW11 2TG

REGISTERED NUMBER:

03910609 (England and Wales)

ACCOUNTANTS:

Kay Johnson Gee Limited

1 City Road East

Manchester

M15 4PN

FIXED ASSETS

Tangible assets

4

16,250

20,955

CURRENT ASSETS

Stocks

4,500

4,500

Debtors

5

42,797

47,959

Cash at bank

68,353

87,208

115,650

139,667

CREDITORS

Amounts falling due within one year

6

(73,069

)

(110,361

)

NET CURRENT ASSETS

42,581

29,306

TOTAL ASSETS LESS CURRENT LIABILITIES

58,831

50,261

PROVISIONS FOR LIABILITIES

(3,088

)

(3,562

)

NET ASSETS

55,743

46,699

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

55,643

46,599

SHAREHOLDERS' FUNDS

55,743

46,699

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 20th January 2021 and were signed on its behalf by:

I P Dale - Director

1.	STATUTORY INFORMATION

Phoenix Analytical Services Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 03910609. The registered office and principle place of business is Dean Hill Farm Newcastle Road, Betchton, Sandbach, Cheshire, CW11 2TG.

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 as the fair value of the consideration received or receivable, excluding value added tax. The following criteria must also be met before turnover is recognised:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2019

84,956

30,324

13,000

35,339

163,619

Additions

623

-

-

-

623

At 31st March 2020

85,579

30,324

13,000

35,339

164,242

DEPRECIATION

At 1st April 2019

69,865

26,195

11,265

35,339

142,664

Charge for year

3,862

1,032

434

-

5,328

At 31st March 2020

73,727

27,227

11,699

35,339

147,992

NET BOOK VALUE

At 31st March 2020

11,852

3,097

1,301

-

16,250

At 31st March 2019

15,091

4,129

1,735

-

20,955

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

42,797

47,959

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

3,332

11,801

Taxation and social security

24,329

25,903

Other creditors

45,408

72,657

73,069

110,361

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

8.	RELATED PARTY DISCLOSURES

At the year end the company owed the directors £646 (2019: £1.171).

During the year, total dividends of £66,000 (2019: £68,180) were issued to the directors.