Phil Anderson Financial Services Ltd. - Accounts to registrar - small 16.3d

REGISTERED NUMBER: SC409185 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

PHIL ANDERSON FINANCIAL SERVICES LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Anderson

SECRETARY:

Miss M Fraser

REGISTERED OFFICE:

117 Ness Circle

Ellon

AB41 9BU

REGISTERED NUMBER:

SC409185 (Scotland)

ACCOUNTANTS:

Fyfe Moir & Associates

58 Queens Road

Aberdeen

Grampian

AB15 4YE

FIXED ASSETS

Intangible assets

4

37

50

Tangible assets

5

16,565

8,244

16,602

8,294

CURRENT ASSETS

Debtors

6

18,697

2,600

Cash at bank

26,579

32,886

45,276

35,486

CREDITORS

Amounts falling due within one year

7

38,112

25,797

NET CURRENT ASSETS

7,164

9,689

TOTAL ASSETS LESS CURRENT LIABILITIES

23,766

17,983

PROVISIONS FOR LIABILITIES

8

3,313

1,649

NET ASSETS

20,453

16,334

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

20,451

16,332

SHAREHOLDERS' FUNDS

20,453

16,334

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 13 December 2016 and were signed by:

P Anderson - Director

1.	STATUTORY INFORMATION

Phil Anderson Financial Services Ltd. is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of eight years.

Tangible fixed assets

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

Improvements to property

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

20% on reducing balance

Deferred tax

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

sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2015

and 31 October 2016

100

AMORTISATION

At 1 November 2015

50

Amortisation for year

13

At 31 October 2016

63

NET BOOK VALUE

At 31 October 2016

37

At 31 October 2015

50

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2015

-

-

13,131

13,131

Additions

10,075

1,960

1,180

13,215

At 31 October 2016

10,075

1,960

14,311

26,346

DEPRECIATION

At 1 November 2015

-

-

4,887

4,887

Charge for year

2,519

490

1,885

4,894

At 31 October 2016

2,519

490

6,772

9,781

NET BOOK VALUE

At 31 October 2016

7,556

1,470

7,539

16,565

At 31 October 2015

-

-

8,244

8,244

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.16

31.10.15

£

£

Tax

9

-

Prepayments and accrued income

18,688

2,600

18,697

2,600

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.16

31.10.15

£

£

Trade creditors

795

1,524

Tax

5,682

3,410

Social security and other taxes

6,845

3,754

Other creditors

212

-

Directors' current accounts

21,636

14,063

Accrued expenses

2,942

3,046

38,112

25,797

8.	PROVISIONS FOR LIABILITIES

31.10.16

31.10.15

£

£

Deferred tax

3,313

1,649

Deferred

tax

£

Balance at 1 November 2015

1,649

movement in year

1,664

Balance at 31 October 2016

3,313

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Retained

earnings

£

At 1 November 2015

16,332

Profit for the year

24,119

Dividends

(20,000

)

At 31 October 2016

20,451

11.	RELATED PARTY DISCLOSURES

Included within Other creditors is a loan due to the company directors amounting to £21,636 (2015 - £14,063).

This loan is non interest bearing and has no fixed terms of repayment.