Phase Electrical Services Limited

Phase Electrical Services Limited

PHASE ELECTRICAL SERVICES LIMITED - Company Information

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Company Registration No. 05470469 (England and Wales)
Phase Electrical Services Limited Unaudited accounts for the year ended 30 June 2017
Phase Electrical Services Limited Unaudited accounts Contents
Page
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Phase Electrical Services Limited Company Information for the year ended 30 June 2017
Director
Mr C. W. Jones
Company Number
05470469 (England and Wales)
Registered Office
103 High Street Waltham Cross Hertfordshire EN8 7AN
Accountants
Brindley Goldstein Ltd 103 High Street Waltham Cross Herts. EN8 7AN
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Phase Electrical Services Limited Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Phase Electrical Services Limited for the year ended 30 June 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Phase Electrical Services Limited for the year ended 30 June 2017 as set out on pages 5 - 7 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 at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Phase Electrical Services Limited, as a body, in accordance with the terms of our engagement letter dated 3 August 2016. Our work has been undertaken solely to prepare for your approval the accounts of Phase Electrical Services Limited and state those matters that we have agreed to state to the Board of Directors of Phase Electrical Services Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phase Electrical Services Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Phase Electrical Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Phase Electrical Services Limited. You consider that Phase Electrical Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Phase Electrical Services 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 accounts.
Brindley Goldstein Ltd Chartered Accountants 103 High Street Waltham Cross Herts. EN8 7AN 1 March 2018
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Phase Electrical Services Limited Statement of financial position as at 30 June 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
371 
648 
Current assets
Debtors
5
17,904 
21,860 
Cash at bank and in hand
2,462 
10,644 
20,366 
32,504 
Creditors: amounts falling due within one year
6
(7,157)
(15,351)
Net current assets
13,209 
17,153 
Net assets
13,580 
17,801 
Capital and reserves
Called up share capital
7
100 
100 
Profit and loss account
13,480 
17,701 
Shareholders' funds
13,580 
17,801 
For the year ending 30 June 2017 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 1 March 2018.
Mr C. W. Jones Director Company Registration No. 05470469
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Phase Electrical Services Limited Notes to the Accounts for the year ended 30 June 2017
1
Statutory information
Phase Electrical Services Limited is a private company, limited by shares, registered in England and Wales, registration number 05470469. The registered office is 103 High Street, Waltham Cross, Hertfordshire, EN8 7AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 30 June 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33 1/3% Straight Line
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 July 2016
833 
At 30 June 2017
833 
Depreciation
At 1 July 2016
185 
Charge for the year
277 
At 30 June 2017
462 
Net book value
At 30 June 2017
371 
At 30 June 2016
648 
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Phase Electrical Services Limited Notes to the Accounts for the year ended 30 June 2017
5
Debtors
2017 
2016 
£ 
£ 
Trade debtors
5,514 
- 
Other debtors
12,390 
21,860 
17,904 
21,860 
6
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Taxes and social security
5,836 
13,757 
Loans from directors
236 
529 
Accruals
1,085 
1,065 
7,157 
15,351 
7
Share capital
2017 
2016 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Transactions with related parties
The company was under the control of Mr C. W. Jones throughout the current and previous year. Mr C. W. Jones is personally interested in 100% of the company's share capital. Mr C. W. Jones received a dividend from the company during the year of £19,000 (2016: £23,000).
9
Average number of employees
During the year the average number of employees was 1 (2016: 1).
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