DAVID_PHILLIPS_(SCOTLAND) - Accounts
DAVID_PHILLIPS_(SCOTLAND) - Accounts
Company Registration No. 05966932 (England and Wales)
FOR THE YEAR ENDED 31 MARCH 2015
COMPANY INFORMATION
Directors
Secretary
Company number
Registered office
Accountants
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2015
- 1 -
The directors present their report and unaudited financial statements for the year ended 31 March 2015. The company is dormant and has not traded during the year.
Directors
The following directors have held office since 1 April 2014:
On behalf of the board
Director
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2015
The company has not traded during the year or the preceding financial year. During these years, the company received no income and incurred no expenditure and therefore made neither profit nor loss.
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DAVID PHILLIPS (SCOTLAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of David Phillips (Scotland) Limited for the year ended 31 March 2015 set out on pages 3 to 4 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of David Phillips (Scotland) Limited, as a body, in accordance with the terms of our engagement letter dated 11 December 2013. Our work has been undertaken solely to prepare for your approval the financial statements of David Phillips (Scotland) Limited and state those matters that we have agreed to state to the Board of Directors of David Phillips (Scotland) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than David Phillips (Scotland) Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that David Phillips (Scotland) 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 loss of David Phillips (Scotland) Limited. You consider that David Phillips (Scotland) 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 David Phillips (Scotland) 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.
Alliotts
Chartered Accountants
BALANCE SHEET
AS AT
31 MARCH 2015
- 3 -
2015
2014
Notes
£
£
Current assets
Debtors
2
Total assets less current liabilities
Capital and reserves
Called up share capital
3
Shareholders' funds
Audit exemption statement
Directors' responsibilities:
-
-
Approved by the Board and authorised for issue on 22 December 2015
Director
Company Registration No. 05966932
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
1
Accounting policies
1.1
Accounting convention
The company has taken advantage of the exemption in Financial Reporting Standard No 1 (Revised 1996) from the requirement to produce a cash flow statement on the grounds that it is a subsidiary undertaking where 90 percent or more of the voting rights are controlled within the group.
1.2
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Debtors
2015
2014
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
4
Control
The immediate holding company is David Phillips Furniture Limited. David Phillips Holdings Limited is the ultimate holding company. FF&P Private Equity Limited manages investment funds which hold 59.89% of the ordinary shares in David Phillips Holdings Limited. No one person has overall control.
5
Related party relationships and transactions
During the year the company did not trade.
At the year end the company was due £200 (2014: £200) by its immediate parent company, David Phillips Furniture Limited.