Abbreviated Company Accounts - PHILLIP W.KEEN LIMITED

PHILLIP W.KEEN LIMITED - Company Information

Registered Number 01034137

PHILLIP W.KEEN LIMITED

Abbreviated Accounts

31 December 2015

PHILLIP W.KEEN LIMITED Registered Number 01034137

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	18,500	21,250
Tangible assets	3	69,039	50,844
		87,539	72,094
Current assets
Stocks		22,905	26,885
Debtors		437,229	482,546
Cash at bank and in hand		24,183	21,356
		484,317	530,787
Creditors: amounts falling due within one year		(166,413)	(108,946)
Net current assets (liabilities)		317,904	421,841
Total assets less current liabilities		405,443	493,935
Creditors: amounts falling due after more than one year		(207,391)	(223,005)
Total net assets (liabilities)		198,052	270,930
Capital and reserves
Called up share capital		100	100
Profit and loss account		197,952	270,830
Shareholders' funds		198,052	270,930

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 9 February 2016

And signed on their behalf by:
J Snooks, Director

PHILLIP W.KEEN LIMITED Registered Number 01034137

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 25% written down value
Motor vehicles - 25% written down value

Intangible assets amortisation policy
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 13 years.

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

2Intangible fixed assets

	£
Cost
At 1 January 2015	35,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	35,000
Amortisation
At 1 January 2015	13,750
Charge for the year	2,750
On disposals	-
At 31 December 2015	16,500
Net book values
At 31 December 2015	18,500
At 31 December 2014	21,250

3Tangible fixed assets

	£
Cost
At 1 January 2015	187,498
Additions	45,000
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	232,498
Depreciation
At 1 January 2015	136,654
Charge for the year	26,805
On disposals	-
At 31 December 2015	163,459
Net book values
At 31 December 2015	69,039
At 31 December 2014	50,844