Company Registration No. 01943550 (England and Wales)
PHILLIPS-TUFTEX LIMITED
Unaudited accounts
for the year ended 31 December 2017
PHILLIPS-TUFTEX LIMITED
Unaudited accounts
Contents
PHILLIPS-TUFTEX LIMITED
Statement of financial position
as at 31 December 2017
Tangible assets
19,538
23,337
Inventories
638,111
554,898
Cash at bank and in hand
3,044
1,619
Creditors: amounts falling due within one year
(475,695)
(278,795)
Net current assets
576,900
494,066
Net assets
599,254
520,107
Called up share capital
8,950
8,950
Profit and loss account
589,254
510,107
Shareholders' funds
599,254
520,107
For the year ending 31 December 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 18 May 2018.
S N Robinson
Director
Company Registration No. 01943550
PHILLIPS-TUFTEX LIMITED
Notes to the Accounts
for the year ended 31 December 2017
PHILLIPS-TUFTEX LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01943550. The registered office is Albion Builldings, Attleborough Road, Nuneaton, Warwickshire, CV11 4JJ, United Kingdom.
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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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Motor vehicles
20% per annum on reducing balance basis
Fixtures & fittings
15% reducing balance and 25% per annum on straight line basis
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Tangible fixed assets
Total
At 31 December 2017
179,007
At 31 December 2017
159,469
At 31 December 2017
19,538
At 31 December 2016
23,337
Allotted, called up and fully paid:
8,950 Ordinary shares of £1 each
8,950
8,950
PHILLIPS-TUFTEX LIMITED
Notes to the Accounts
for the year ended 31 December 2017
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Transactions with related parties
Included in debtors within one year is amount £9,174 (2016: £Nil) owed to the parent company.
Consultancy fees
The company paid £113,760 (2016: £60,840) to Albion Sports Limited, a company in which Mr Simon Robinson has a participating interest
The ultimate parent company is Tuftex Properties Limited, a company registered in England and Wales
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Average number of employees
During the year the average number of employees was 15 (2016: 18).
