Castle Phillips (Holdings) Limited - Period Ending 2016-10-31

Registration number: 00933293

Castle Phillips (Holdings) Limited
 
  and Abbreviated Accounts
 
  for the Year Ended 31 October 2016
 

Dennis G Luffingham & Co
7 Rabin Hill
Sturminster Newton
Dorset
DT10 1EU

Castle Phillips (Holdings) Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Castle Phillips (Holdings) Limited
for the Year Ended 31 October 2016

In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Castle Phillips (Holdings) Limited for the year ended 31 October 2016 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

......................................

Dennis G Luffingham & Co
7 Rabin Hill
Sturminster Newton
Dorset
DT10 1EU

Date:.............................

Page 1

Castle Phillips (Holdings) Limited
(Registration number: 00933293)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					655,572			662,218
Investments					(99,000)			(99,000)
					556,572			563,218
Current assets
Debtors					16,763			46,637
Investments					198,000			198,000
Cash at bank and in hand					352,821			259,728
					567,584			504,365
Creditors: Amounts falling due within one year					(1,628)			(7,914)
Net current assets					565,956			496,451
Total assets less current liabilities					1,122,528			1,059,669
Creditors: Amounts falling due after more than one year					(832,516)			(738,568)
Net assets					290,012			321,101
Capital and reserves
Called up share capital		3			60,000			60,000
Profit and loss account					230,012			261,101
Shareholders' funds					290,012			321,101

For the year ending 31 October 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 director acknowledges his 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 director on 20 July 2017

.........................................
Mr I B Phillips
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Castle Phillips (Holdings) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold property	not provided
Short leasehold	1% on cost
Fixtures and fittings	10%

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Current asset investments

Current asset investments are included at the lower of cost and net realisable value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Castle Phillips (Holdings) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 November 2015		739,901			(99,000)			640,901
At 31 October 2016		739,901			(99,000)			640,901
Depreciation
At 1 November 2015		77,683			-			77,683
Charge for the year		6,646			-			6,646
At 31 October 2016		84,329			-			84,329
Net book value
At 31 October 2016		655,572			(99,000)			556,572
At 31 October 2015		662,218			(99,000)			563,218

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		60,000			60,000			60,000			60,000

Page 4