Philip Phillips & Company Limited - Accounts to registrar (filleted) - small 17.3

Philip Phillips & Company Limited - Accounts to registrar (filleted) - small 17.3

PHILIP PHILLIPS & COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 01353917 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

PHILIP PHILLIPS & COMPANY LIMITED
PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

PHILIP PHILLIPS & COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2017







DIRECTOR: Mr P A M Phillips





SECRETARY: Ms S A M Phillips





REGISTERED OFFICE: 1 Brampton Lane
HENDON
London
NW4 4AB





REGISTERED NUMBER: 01353917 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH
Page 1
PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917)

BALANCE SHEET
30 JUNE 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,445 14,668
Investments 5 109,709 109,709
121,154 124,377

CURRENT ASSETS
Debtors 6 393,861 366,690
Cash at bank 18,920 19,398
412,781 386,088
CREDITORS
Amounts falling due within one year 7 274,679 228,151
NET CURRENT ASSETS 138,102 157,937
TOTAL ASSETS LESS CURRENT
LIABILITIES
259,256
282,314

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 159,256 182,314
SHAREHOLDERS' FUNDS 259,256 282,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Profit and Loss account has not been delivered.

The financial statements were approved by the director on 23 March 2018 and were signed by:





Mr P A M Phillips - Director


The notes form part of these financial statements

Page 2
PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017


1. STATUTORY INFORMATION

Philip Phillips & Company 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.

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.

This the first year that the company has presented its results under FRS 102. The last financial statements under
UK GAAP were for the year ended 30 June 2016. The date of transition to FRS 102 was 01 July 2015. There are
no transitional adjustments arising from the first time adoption of FRS 102.

Turnover
Turnover represents net invoiced sales of services, 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.
Office equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for
objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised
in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise
the asset and settle the liability simultaneously.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

Page 3 continued...
PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2017


4. TANGIBLE FIXED ASSETS
Fixtures
Office and Motor
equipment fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2016
and 30 June 2017 15,825 4,962 18,200 38,987
DEPRECIATION
At 1 July 2016 11,916 4,439 7,964 24,319
Charge for year 586 79 2,558 3,223
At 30 June 2017 12,502 4,518 10,522 27,542
NET BOOK VALUE
At 30 June 2017 3,323 444 7,678 11,445
At 30 June 2016 3,909 523 10,236 14,668

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2017 2016
£    £   
Timeshares 109,709 109,709

The Company's investment in Timeshares are stated at cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Other debtors 393,861 366,690

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 682 -
Taxation and social security 2,742 2,646
Other creditors 271,255 225,505
274,679 228,151

8. RELATED PARTY DISCLOSURES

Included in Debtors are the following balances owed by the related companies Kirphil Properties Ltd £373,360
(2016: £354,560) and Crossmill Securities Ltd £7,000 (2016: £5,000). PA Phillips is a director and shareholder of
both companies.

Included in Creditors are the following balances due to related companies: Management Investments Ltd £59,303
(2016:£47,767) and PP Investments Ltd £182,055 (2016: £147,055). Both companies in which director PA Phillips
is also a director and shareholder.

Page 4
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PHILIP PHILLIPS & COMPANY LIMITED


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 Philip Phillips & Company Limited for the year ended 30 June 2017 which comprise the Profit and
Loss account, 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 Philip Phillips & Company Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Philip Phillips & Company Limited and state those matters that we have agreed to state to the director of Philip Phillips & Company 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 Philip Phillips & Company Limited and its director for our work or for this report.

It is your duty to ensure that Philip Phillips & Company 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 loss of Philip Phillips & Company Limited. You consider that Philip Phillips & Company 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 financial statements of Philip Phillips & Company 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.






KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH


26 March 2018

This page does not form part of the statutory financial statements

Page 5