TREVOR_PHILIP_AND_SONS_LI - Accounts

TREVOR PHILIP & SONS LIMITED - Company Information

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Company Registration No. 01790753 (England and Wales)

TREVOR PHILIP AND SONS LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 JULY 2013

TREVOR PHILIP AND SONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

TREVOR PHILIP AND SONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2013

- 1 -

As at

31 March

2013

2012

Notes

Fixed assets

Tangible assets

37,537

34,715

Current assets

Stocks

1,334,887

1,308,986

Debtors

131,942

320,793

Cash at bank and in hand

62,890

1,466,836

1,692,669

Creditors: amounts falling due within one year

(602,516)

(702,740)

Net current assets

864,320

989,929

Total assets less current liabilities

901,857

1,024,644

Creditors: amounts falling due after more than one year

(74,963)

(290,597)

826,894

734,047

Capital and reserves

Called up share capital

75,000

Share premium account

44,857

Profit and loss account

707,037

614,190

Shareholders' funds

826,894

734,047

TREVOR PHILIP AND SONS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JULY 2013

- 2 -

For the financial period ended 31 July 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

The directors acknowledge their 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 27 May 2014

A M Waterman Esq

Director

Company Registration No. 01790753

TREVOR PHILIP AND SONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 JULY 2013

(COMPARATIVES ARE FOR THE YEAR ENDED 31 MARCH 2012)

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

Turnover

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

1.3

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:

Land and buildings Leasehold

20% straight line

Fixtures, fittings & equipment

20% reducing balance

Motor vehicles

25% reducing balance

1.4

Stock

Stock is valued at the lower of cost and net realisable value.

1.5

Pensions

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they fall due for payment.

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.

Fixed assets

Tangible assets

Cost

At 1 April 2012

310,286

Additions

15,720

At 31 July 2013

326,006

Depreciation

At 1 April 2012

275,571

Charge for the period

12,898

At 31 July 2013

288,469

Net book value

At 31 July 2013

37,537

At 31 March 2012

34,715

TREVOR PHILIP AND SONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 JULY 2013

(COMPARATIVES ARE FOR THE YEAR ENDED 31 MARCH 2012)

- 4 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £225,013 (2012 - £381,152).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £74,963 (2012 - £290,597).

Share capital

2013

2012

Allotted, called up and fully paid

75,000 Ordinary shares of £1 each

75,000