Phys-cycle Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 09278460 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 23 October 2014 to 31 October 2015

for

Phys-cycle Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

C A R Nicol

REGISTERED OFFICE:

55 Ridge Road

Letchworth

Hertfordshire

SG6 1PS

REGISTERED NUMBER:

09278460 (England and Wales)

ACCOUNTANTS:

Sarah Perkins Accountancy Services Limited

4 Orchard Close

Biggleswade

Bedfordshire

SG18 0NE

FIXED ASSETS

Tangible assets

2

1,892

CURRENT ASSETS

Cash at bank

4,944

CREDITORS

Amounts falling due within one year

6,497

NET CURRENT LIABILITIES

(1,553

)

TOTAL ASSETS LESS CURRENT LIABILITIES

339

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

338

SHAREHOLDERS' FUNDS

339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 21 January 2016 and were signed by:

C A R Nicol - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional services.

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in

exchange for its performance under these contracts. It is measured at the fair value of the right to consideration,

which represents amounts chargeable to customers, including expenses and disbursements but excluding value

added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the

partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual

of the right to consideration by reference to the value of work performed. Revenue not billed to clients is

included in debtors. Payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event

occurs.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

2,593

At 31 October 2015

2,593

DEPRECIATION

Charge for period

701

At 31 October 2015

701

NET BOOK VALUE

At 31 October 2015

1,892

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

£1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 October 2015:

£

C A R Nicol

Balance outstanding at start of period

-

Amounts repaid

(331

)

Balance outstanding at end of period

(331

)