DOUG_PHILLIPS_LIMITED - Accounts

DOUG PHILLIPS LIMITED - Company Information

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Company Registration No. 05455913 (England and Wales)

DOUG PHILLIPS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

DOUG PHILLIPS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

DOUG PHILLIPS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

62,880

52,797

Current assets

Debtors

2,530,129

2,503,255

Cash at bank and in hand

100,966

2,631,095

2,503,304

Creditors: amounts falling due within one year

(1,817,339)

(1,728,010)

Net current assets

813,756

775,294

Total assets less current liabilities

876,636

828,091

Capital and reserves

Called up share capital

Profit and loss account

876,635

828,090

Shareholders' funds

876,636

828,091

For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 4 January 2017

Mr M Shorney

Director

Company Registration No. 05455913

DOUG PHILLIPS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 2 -

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

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

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

25% reducing balance

Computer equipment

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

DOUG PHILLIPS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 September 2015

144,527

Additions

23,879

Disposals

(7,728)

At 31 August 2016

160,678

Depreciation

At 1 September 2015

91,730

On disposals

(6,947)

Charge for the year

13,015

At 31 August 2016

97,798

Net book value

At 31 August 2016

62,880

At 31 August 2015

52,797

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of 1p each

Ultimate parent company

Doug Phillips Holdings Ltd a company incorporated in England and Wales is the parent company and ultimate parent company by virtue of holding 100% issued shares in the company. There is no ultimate controlling party in the current or previous year.