Philip Phillips & Company Limited - Accounts to registrar (filleted) - small 18.2
Philip Phillips & Company Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2020 |
| FOR |
| PHILIP PHILLIPS & COMPANY LIMITED |
| PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 5 |
| PHILIP PHILLIPS & COMPANY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2020 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Harben House |
| Harben Parade |
| Finchley Road |
| LONDON |
| NW3 6LH |
| PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917) |
| BALANCE SHEET |
| 30 JUNE 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2020 |
| 1. | STATUTORY INFORMATION |
| Philip Phillips & Company Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. |
| Tangible fixed assets |
| Office equipment | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Financial instruments |
| The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| 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. |
| 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 |
| PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Office | and | Motor |
| equipment | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 July 2019 |
| and 30 June 2020 |
| DEPRECIATION |
| At 1 July 2019 |
| Charge for year |
| At 30 June 2020 |
| NET BOOK VALUE |
| At 30 June 2020 |
| At 30 June 2019 |
| 5. | FIXED ASSET INVESTMENTS |
| Investments (neither listed nor unlisted) were as follows: |
| 2020 | 2019 |
| £ | £ |
| Timeshares | 109,709 | 109,709 |
| The Company's investment in Timeshares are stated at cost. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 8. | RELATED PARTY DISCLOSURES |
| Included in Debtors are the following balances owed by the related companies Kirphil Properties Ltd £460,665(2019: £475,360) and Crossmill Securities Ltd £17,000 (2019: £12,000). PA Phillips is a director and shareholder of both companies. |
| Included in Creditors are the following balances due to related companies: Management Investments Ltd £106,772 (2019:£92,838) and PP Investments Ltd £259,528 (2019: £249,528), both companies in which director the P A M Phillips is also a director and shareholder. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PHILIP PHILLIPS & COMPANY LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Philip Phillips & Company Limited for the year ended 30 June 2020 which comprise the Profit and Loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Philip Phillips & Company Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Philip Phillips & Company Limited and state those matters that we have agreed to state to the director of Philip Phillips & Company Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Philip Phillips & Company Limited and its director for our work or for this report. |
| It is your duty to ensure that Philip Phillips & Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Philip Phillips & Company Limited. You consider that Philip Phillips & Company Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Philip Phillips & Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Harben House |
| Harben Parade |
| Finchley Road |
| LONDON |
| NW3 6LH |