Phoenix Green Resources Limited - Limited company - abbreviated

REGISTERED NUMBER: 07145119 (England and Wales)

PHOENIX GREEN RESOURCES LIMITED

ABBREVIATED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D K M Walpole

Miss D S Walpole

K Gollop

M D Walpole

C D Murch

REGISTERED OFFICE:

1 Paper Mews

330 High Street

Dorking

Surrey

RH4 2TU

REGISTERED NUMBER:

07145119 (England and Wales)

ACCOUNTANTS:

Perrys Accountants Limited

Chartered Accountants

Perry House

32-34 St Johns Road

Tunbridge Wells

Kent

TN4 9NT

FIXED ASSETS

Intangible assets

2

2,138,658

1,855,006

Tangible assets

3

22,763

27,310

2,161,421

1,882,316

CURRENT ASSETS

Debtors

28,799

68,727

Cash at bank

158,177

208,965

186,976

277,692

CREDITORS

Amounts falling due within one year

1,184,883

1,088,469

NET CURRENT LIABILITIES

(997,907

)

(810,777

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,163,514

1,071,539

CREDITORS

Amounts falling due after more than one
year

2,428,900

1,978,900

NET LIABILITIES

(1,265,386

)

(907,361

)

CAPITAL AND RESERVES

Called up share capital

4

10,000

Profit and loss account

(1,275,386

)

(917,361

)

SHAREHOLDERS' FUNDS

(1,265,386

)

(907,361

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 10 December 2014 and were signed on
its behalf by:

D K M Walpole - 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 April 2008).

Development costs

Development costs have been included in intangible assets in accordance with IAS 38, and will be

amortised over the useful life, once commercial production has commenced.

Tangible fixed assets

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

Improvements to property

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Deferred tax

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

the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

1,855,006

Additions

283,652

At 31 March 2014

2,138,658

NET BOOK VALUE

At 31 March 2014

2,138,658

At 31 March 2013

1,855,006

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

53,118

Additions

3,040

At 31 March 2014

56,158

DEPRECIATION

At 1 April 2013

25,808

Charge for year

7,587

At 31 March 2014

33,395

NET BOOK VALUE

At 31 March 2014

22,763

At 31 March 2013

27,310

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2014

2013

value:

£

10,000

Ordinary

£1

10,000

5.	ULTIMATE PARENT COMPANY

The ultimate parent company is MWL International Limited.

6.	GOING CONCERN

The financial statements have been prepared on the basis that the company will be a going concern

for at least the next 12 months. This is reliant on the ongoing support of MWL International Limited,

and the directors of that company have confirmed that such support will be given.

Phoenix Green Resources Limited - Limited company - abbreviated - 11.6

Phoenix Green Resources Limited - Limited company - abbreviated - 11.6