Abbreviated Company Accounts - PHOENIX TAXIS (NORTH EAST) LIMITED

PHOENIX TAXIS (NORTH EAST) LIMITED - Company Information

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Registered Number 01886762

PHOENIX TAXIS (NORTH EAST) LIMITED

Abbreviated Accounts

31 October 2015

PHOENIX TAXIS (NORTH EAST) LIMITED Registered Number 01886762

Abbreviated Balance Sheet as at 31 October 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	-	1
		-	1
Current assets
Debtors		24,515	24,249
Cash at bank and in hand		376	41
		24,891	24,290
Creditors: amounts falling due within one year		(32,541)	(27,088)
Net current assets (liabilities)		(7,650)	(2,798)
Total assets less current liabilities		(7,650)	(2,797)
Total net assets (liabilities)		(7,650)	(2,797)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(7,750)	(2,897)
Shareholders' funds		(7,650)	(2,797)

For the year ending 31 October 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 31 March 2016

And signed on their behalf by:
A Hurst, Director

PHOENIX TAXIS (NORTH EAST) LIMITED Registered Number 01886762

Notes to the Abbreviated Accounts for the period ended 31 October 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 - 20% straight line

Other accounting policies
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

Going concern
Notwithstanding the deficiency of shareholders' funds, the financial statements are prepared on a going concern basis. The director is satisfied that funding is in place to enable the company to continue to trade for the foreseeable future.

2Tangible fixed assets

	£
Cost
At 1 November 2014	2,185
Additions	-
Disposals	(2,185)
Revaluations	-
Transfers	-
At 31 October 2015	0
Depreciation
At 1 November 2014	2,184
Charge for the year	-
On disposals	(2,184)
At 31 October 2015	0
Net book values
At 31 October 2015	0
At 31 October 2014	1

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100

4Transactions with directors

Name of director receiving advance or credit:	A Hurst
Description of the transaction:	Loan
Balance at 1 November 2014:	£ 0
Advances or credits made:	£ 2,000
Advances or credits repaid:	-
Balance at 31 October 2015:	£ 2,000

Maximum in year £2,000