Phillips Car Bodywork Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01115745 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

FOR

PHILLIPS CAR BODYWORK LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R J Phillips

S H Phillips

SECRETARY:

Mrs. S Phillips

REGISTERED OFFICE:

The Terrace Suite

Kelston Park

Bath

BA1 9AE

REGISTERED NUMBER:

01115745 (England and Wales)

ACCOUNTANTS:

R D Owen & Co

Chartered Accountants

The Terrace Suite

Kelston Park

Bath

BA1 9AE

FIXED ASSETS

Tangible assets

2

22,440

23,893

CURRENT ASSETS

Stocks

9,100

9,545

Debtors

107,616

110,858

Cash at bank and in hand

24,406

19,988

141,122

140,391

CREDITORS

Amounts falling due within one year

40,116

48,575

NET CURRENT ASSETS

101,006

91,816

TOTAL ASSETS LESS CURRENT
LIABILITIES

123,446

115,709

PROVISIONS FOR LIABILITIES

357

-

NET ASSETS

123,089

115,709

CAPITAL AND RESERVES

Called up share capital

3

41

Profit and loss account

123,048

115,668

SHAREHOLDERS' FUNDS

123,089

115,709

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 28 February 2017 and were signed on its behalf
by:

R J Phillips - Director

S H Phillips - 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 from garage operations and specialist rust proofing, 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.

Long leasehold

-

2% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on cost

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

135,747

DEPRECIATION

At 1 June 2015

111,854

Charge for year

1,453

At 31 May 2016

113,307

NET BOOK VALUE

At 31 May 2016

22,440

At 31 May 2015

23,893

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

41

Ordinary

£1

41