Company Registration No. 07091075 (England and Wales)
PHASE LOGISTIC SOLUTIONS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
PHASE LOGISTIC SOLUTIONS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
PHASE LOGISTIC SOLUTIONS LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,732
1,617
Current assets
Debtors
17,281
22,400
Cash at bank and in hand
62,013
50,290
79,294
72,690
Creditors: amounts falling due within one year
(19,830)
(25,726)
Net current assets
59,464
46,964
Total assets less current liabilities
62,196
48,581
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
62,096
48,481
Shareholders' funds
62,196
48,581
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 6 September 2016
D Towns
Director
Company Registration No. 07091075
PHASE LOGISTIC SOLUTIONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
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 January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
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:
Plant and machinery
20% per annum reducing balance basis
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
4,272
Additions
1,951
At 31 March 2016
6,223
Depreciation
At 1 April 2015
2,655
Charge for the year
836
At 31 March 2016
3,491
Net book value
At 31 March 2016
2,732
At 31 March 2015
1,617
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
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