Abbreviated Company Accounts - THE PHONE EXCHANGE LIMITED

Abbreviated Company Accounts - THE PHONE EXCHANGE LIMITED

THE PHONE EXCHANGE LIMITED - Company Information

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Registered Number 03033499

THE PHONE EXCHANGE LIMITED

Abbreviated Accounts

31 May 2016

THE PHONE EXCHANGE LIMITED Registered Number 03033499

Abbreviated Balance Sheet as at 31 May 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 7,000 7,000
Tangible assets 3 1,045 1,230
8,045 8,230
Current assets
Stocks 500 500
Debtors 13,190 19,184
Cash at bank and in hand 32,568 13,112
46,258 32,796
Creditors: amounts falling due within one year (54,281) (37,507)
Net current assets (liabilities) (8,023) (4,711)
Total assets less current liabilities 22 3,519
Total net assets (liabilities) 22 3,519
Capital and reserves
Called up share capital 8 5
Profit and loss account 14 3,514
Shareholders' funds 22 3,519
  • For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 26 March 2017

And signed on their behalf by:
A J TERRY, Director

THE PHONE EXCHANGE LIMITED Registered Number 03033499

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Tangible assets depreciation policy
Depreciation has been provided to write off the cost or valuation of all tangible fixed assets over their estimated useful lives on a reducing balance basis at rates considered appropriate by the Board.

Intangible assets amortisation policy
Amortisation has been provided to write off the cost or valuation of all intangible fixed assets over their estimated useful lives on a straight line basis as considered appropriate by the Board.

2Intangible fixed assets
£
Cost
At 27 May 2015 7,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 May 2016 7,000
Amortisation
At 27 May 2015 -
Charge for the year -
On disposals -
At 31 May 2016 -
Net book values
At 31 May 2016 7,000
At 26 May 2015 7,000
3Tangible fixed assets
£
Cost
At 27 May 2015 10,572
Additions -
Disposals -
Revaluations -
Transfers -
At 31 May 2016 10,572
Depreciation
At 27 May 2015 9,342
Charge for the year 185
On disposals -
At 31 May 2016 9,527
Net book values
At 31 May 2016 1,045
At 26 May 2015 1,230