Phoenix Glass Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03643087 (England and Wales)

PHOENIX GLASS SERVICES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

P D Jones

D R Blunt

SECRETARY:

D R Blunt

REGISTERED OFFICE:

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

REGISTERED NUMBER:

03643087 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

2

28,674

35,854

CURRENT ASSETS

Stocks

11,361

8,318

Debtors

37,014

33,469

Cash in hand

90

90

48,465

41,877

CREDITORS

Amounts falling due within one year

67,526

61,199

NET CURRENT LIABILITIES

(19,061

)

(19,322

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,613

16,532

CREDITORS

Amounts falling due after more than one year

(4,143

)

(9,115

)

PROVISIONS FOR LIABILITIES

(4,947

)

(6,209

)

NET ASSETS

523

1,208

CAPITAL AND RESERVES

Called up share capital

3

6

6

Profit and loss account

517

1,202

SHAREHOLDERS' FUNDS

523

1,208

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 directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 January 2017 and were signed on its behalf by:

D R Blunt - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Office equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

138,456

Additions

923

At 31 October 2016

139,379

DEPRECIATION

At 1 November 2015

102,602

Charge for year

8,103

At 31 October 2016

110,705

NET BOOK VALUE

At 31 October 2016

28,674

At 31 October 2015

35,854

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

6

Ordinary

£1

6

6