PHS Space Limited - Accounts

Registered number

05794582

PHS Space Limited

Unaudited Report and Accounts

31 March 2014

PHS Space Limited
Registered number:		05794582
Director's Report

The director presents his report and accounts for the year ended 31 March 2014.

Principal activities
The company's principal activity during the year continued to be the provision of management consultancy services.

Directors
The following persons served as directors during the year:

	Dr P H Stokes

Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 18 December 2014 and signed on its behalf.





Dr P H Stokes
Director

PHS Space Limited
Profit and Loss Account
for the year ended 31 March 2014


Notes		2014		2013
£			£

Turnover		80,734		28,585

Cost of sales		(3,298)		(21,461)

Gross profit		77,436		7,124

Administrative expenses		(33,718)		(29,616)
Other operating income		29,238		111,525

Operating profit		72,956		89,033

Interest receivable		19		14

Profit on ordinary activities before taxation		72,975		89,047

Tax on profit on ordinary activities	2	(14,595)		(17,809)

Profit for the financial year		58,380		71,238

PHS Space Limited
Balance Sheet
as at 31 March 2014

Notes			2014			2013
£				£
Current assets
Debtors	3	-			5,856
Cash at bank and in hand		204,139			152,649
		204,139			158,505

Creditors: amounts falling due within one year	4	(201,900)			(145,812)

Net current assets			2,239			12,693

Net assets			2,239			12,693

Capital and reserves
Called up share capital	5		2			2
Profit and loss account	6		2,237			12,691

Shareholder's funds			2,239			12,693

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.




Dr P H Stokes
Director
Approved by the board on 18 December 2014

PHS Space Limited
Notes to the Accounts
for the year ended 31 March 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Stocks
	Stock is valued at the lower of cost and net realisable value.


2	Taxation					2014		2013
£							£

	Corporation tax					14,595		17,809


3	Debtors					2014		2013
£							£

	Other debtors					-		5,856


4	Creditors: amounts falling due within one year					2014		2013
£							£

	Corporation tax					14,595		17,809
	Other taxes and social security costs					3,984		7,684
	Other creditors					183,321		120,319
						201,900		145,812


5	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		2		2		2


6	Profit and loss account					2014
£

	At 1 April 2013					12,691
	Profit for the year					58,380
	Dividends					(68,834)

	At 31 March 2014					2,237


7	Dividends					2014		2013
£							£

	Dividends for which the company became liable during the year:
	Dividends paid					68,834		61,685



8	EC Grant

	During the year the company received an advance of £35,094 (2013 - £73,412) for EU Framework Programme 7 (FP7) Grants. Of this and the amounts brought forward £29,238 (2013 - £111,525) has been recognised as revenue representing the proportion of the total contracts actually performed. At the balance sheet date no income had been carried forward.


9	Related party transactions					2014		2013
£							£
	Dr P H Stokes
	Amount due to director					126,421		63,419


10	Ultimate controlling party

	The ultimate controlling party at the balance sheet date was Dr P H Stokes.