Phipps Site Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07809866 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

PHIPPS SITE SERVICES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr S P Phipps

REGISTERED OFFICE:

93 Bohemia Road

St Leonards on Sea

East Sussex

TN37 6RJ

REGISTERED NUMBER:

07809866 (England and Wales)

ACCOUNTANTS:

Acuity Professional (Sellens French) LLP

91-97 Bohemia Road

St Leonards on Sea

East Sussex

TN37 6RJ

FIXED ASSETS

Intangible assets

2

-

1,906

Tangible assets

3

2,025

2,700

2,025

4,606

CURRENT ASSETS

Stocks

500

500

Debtors

5,622

3,265

Cash at bank

1,408

2,780

7,530

6,545

CREDITORS

Amounts falling due within one year

8,893

10,925

NET CURRENT LIABILITIES

(1,363

)

(4,380

)

TOTAL ASSETS LESS CURRENT LIABILITIES

662

226

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

562

126

SHAREHOLDERS' FUNDS

662

226

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 director acknowledges his 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 director on 18 July 2017 and were signed by:

Mr S P Phipps - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

2.	INTANGIBLE FIXED ASSETS

Total

£

Cost

At 1 November 2015

and 31 October 2016

9,530

Amortisation

At 1 November 2015

7,624

Amortisation for year

1,906

At 31 October 2016

9,530

Net book value

At 31 October 2016

-

At 31 October 2015

1,906

3.	TANGIBLE FIXED ASSETS

Total

£

Cost

At 1 November 2015

and 31 October 2016

7,350

Depreciation

At 1 November 2015

4,650

Charge for year

675

At 31 October 2016

5,325

Net book value

At 31 October 2016

2,025

At 31 October 2015

2,700

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Share capital 1

1

100

100