EP Phoenix Engineering Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10192275 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 20 MAY 2016 TO 31 MAY 2017

FOR

EP PHOENIX ENGINEERING LIMITED

Page

Company Information

1

Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTOR:

Mr J R Griffiths

REGISTERED OFFICE:

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

REGISTERED NUMBER:

10192275 (England and Wales)

ACCOUNTANTS:

Seymour Taylor Audit Limited

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Director are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of EP Phoenix Engineering Limited for the period ended 31 May 2017 which

comprise the Income Statement, Balance Sheet, and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of EP Phoenix Engineering Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of EP Phoenix Engineering Limited and state those matters that we have agreed to state to the director of EP Phoenix Engineering Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EP Phoenix Engineering Limited and its director for our work or for this report.

It is your duty to ensure that EP Phoenix Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of EP Phoenix Engineering Limited. You consider that EP Phoenix Engineering Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of EP Phoenix Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Seymour Taylor Audit Limited

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

15 February 2018

FIXED ASSETS

Tangible assets

4

43,987

CURRENT ASSETS

Stocks

5

500

Debtors

6

10,169

Cash at bank

13,594

24,263

CREDITORS

Amounts falling due within one year

7

66,501

NET CURRENT LIABILITIES

(42,238

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,749

CREDITORS

Amounts falling due after more than one year

8

(586

)

PROVISIONS FOR LIABILITIES

(614

)

NET ASSETS

549

CAPITAL AND RESERVES

Called up share capital

9

1

Retained earnings

10

548

SHAREHOLDERS' FUNDS

549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 15 February 2018 and were signed by:

Mr J R Griffiths - Director

1.	STATUTORY INFORMATION

EP Phoenix Engineering Limited is a private company limited by shares and incorporated in England

and Wales. The address of the company's registered office is . 57 London Road, High Wycombe,

Buckinghamshire, HP11 1BS. The principal place of business is Watercroft Farm, Cadmore End

Common. High Wycombe, Buckinghamshire, HP14 3PS. The registered number is 10192275.

The principal activity of the company is that of engineering.

The presentation currency of these financial statements is Sterling (£), being the currency of the

primary economic market in which the entity operates (its functional currency). All amounts in these

financial statements have been rounded to the nearest pound unless stated otherwise.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Stocks

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

obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

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

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the period end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss over the relevant period. The

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

Financial instruments

The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12

"Other Financial Instrument Issues" of FRS 102 to its financial statements.

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

Additions

52,400

3,100

55,500

At 31 May 2017

52,400

3,100

55,500

DEPRECIATION

Charge for period

10,480

1,033

11,513

At 31 May 2017

10,480

1,033

11,513

NET BOOK VALUE

At 31 May 2017

41,920

2,067

43,987

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Computer

equipment

£

COST

Additions

2,500

At 31 May 2017

2,500

DEPRECIATION

Charge for period

833

At 31 May 2017

833

NET BOOK VALUE

At 31 May 2017

1,667

5.

STOCKS

£

Stocks

500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

10,169

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

14

Hire purchase contracts

1,268

Trade creditors

2,899

Corporation tax

6,223

Social security and other taxes

90

VAT

8,278

Other creditors

1,296

Directors' current accounts

43,683

Accruals and deferred income

2,750

66,501

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

346

Other creditors

240

586

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

1

1

10.

RESERVES

Retained

earnings

£

Profit for the period

27,698

Dividends

(27,150

)

At 31 May 2017

548