TREVOR_PHILIP_&_SONS_LIMI - Accounts

TREVOR PHILIP & SONS LIMITED - Company Information

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Company Registration No. 01790753 (England and Wales)

TREVOR PHILIP & SONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2014

TREVOR PHILIP & SONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

TREVOR PHILIP & SONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2014

- 1 -

2014

2013

as restated

Notes

Fixed assets

Tangible assets

37,537

Current assets

Stocks

852,838

1,286,387

Debtors

85,955

131,942

Cash at bank and in hand

328,232

1,267,025

1,418,336

Creditors: amounts falling due within one year

(485,672)

(602,516)

Net current assets

781,353

815,820

Total assets less current liabilities

781,353

853,357

Creditors: amounts falling due after more than one year

(74,963)

781,353

778,394

Capital and reserves

Called up share capital

75,000

Share premium account

44,857

Profit and loss account

661,496

658,537

Shareholders' funds

781,353

778,394

TREVOR PHILIP & SONS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JULY 2014

- 2 -

For the financial year ended 31 July 2014 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 year 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 24 August 2015

A M Waterman Esq

Director

Company Registration No. 01790753

TREVOR PHILIP & SONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2014

- 3 -

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 is recognised at the point of sale.is recognised at the point of sale.

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 & 25% straight line

Motor vehicles

25% reducing balance

1.4

Stock

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

1.5

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 August 2013

326,006

Disposals

(326,006)

At 31 July 2014

Depreciation

At 1 August 2013

288,469

On disposals

(288,469)

At 31 July 2014

Net book value

At 31 July 2014

At 31 July 2013

37,537

TREVOR PHILIP & SONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2014

- 4 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £16,235 (2013 - £224,768).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2013 - £74,963).

Share capital

2014

2013

Allotted, called up and fully paid

75,000 Ordinary shares of £1 each

75,000