Phaseselect Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02577265 (England and Wales)

PHASESELECT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr N G Indermaur

SECRETARY:

Mr J T Indermaur

REGISTERED OFFICE:

5 Gernon Walk

Letchworth Garden City

Hertfordshire

SG6 3HW

REGISTERED NUMBER:

02577265 (England and Wales)

ACCOUNTANTS:

Keens Shay Keens Limited

5 Gernon Walk

Letchworth Garden City

Hertfordshire

SG6 3HW

FIXED ASSETS

Tangible assets

5

1,830

-

CURRENT ASSETS

Work in progress

8,784

-

Debtors

6

166

4,365

Cash at bank

90,294

131,685

99,244

136,050

CREDITORS

Amounts falling due within one year

7

1,840

2,159

NET CURRENT ASSETS

97,404

133,891

TOTAL ASSETS LESS CURRENT LIABILITIES

99,234

133,891

CAPITAL AND RESERVES

Called up share capital

8

200

200

Retained earnings

99,034

133,691

SHAREHOLDERS' FUNDS

99,234

133,891

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 12th February 2018 and were signed by:

Mr N G Indermaur - Director

1.	STATUTORY INFORMATION

Phaseselect Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net sales of services provided, 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.

Fixtures and fittings

-

33% on cost

Work in progress

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing work in progress to their present location and condition.

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 profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st June 2016

7,105

Additions

2,746

At 31st May 2017

9,851

DEPRECIATION

At 1st June 2016

7,105

Charge for year

916

At 31st May 2017

8,021

NET BOOK VALUE

At 31st May 2017

1,830

At 31st May 2016

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

166

4,365

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

44

411

Other creditors

1,796

1,748

1,840

2,159

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1.00

100

100

100

'A' Ordinary non-voting

£1.00

100

100

200

200

9.	FIRST YEAR ADOPTION

The company transitioned from the previously applicable UK GAAP to FRS102, Section 1A as at 1st

June 2015. The transition to FRS 102, Section 1A has not affected the reported financial position and

financial performance.