Phoenix Corporate Gifts Limited - Period Ending 2014-03-31

Registration number: 07585644

Phoenix Corporate Gifts Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

GSB Accountancy
Association of Chartered Certified Accountants
51 Jubilee Meadow
St Austell
Cornwall
PL25 3EX

Phoenix Corporate Gifts Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 3) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Phoenix Corporate Gifts Limited
for the Year Ended 31 March 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Phoenix Corporate Gifts Limited for the year ended 31 March 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Phoenix Corporate Gifts Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Phoenix Corporate Gifts Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phoenix Corporate Gifts Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Phoenix Corporate Gifts 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 Phoenix Corporate Gifts Limited. You consider that Phoenix Corporate Gifts 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 Phoenix Corporate Gifts 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.

......................................

GSB Accountancy
Association of Chartered Certified Accountants
51 Jubilee Meadow
St Austell
Cornwall
PL25 3EX

12 December 2014

Page 1

Phoenix Corporate Gifts Limited
(Registration number: 07585644)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Current assets
Debtors					54,786			43,648
Cash at bank and in hand					-			6,932
					54,786			50,580
Creditors: Amounts falling due within one year					(36,104)			(26,148)
Total assets less current liabilities					18,682			24,432
Creditors: Amounts falling due after more than one year					(17,734)			(23,942)
Net assets					948			490
Capital and reserves
Called up share capital		2			99			99
Profit and loss account					849			391
Shareholders' funds					948			490

For the year ending 31 March 2014 the company was entitled to exemption 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.

For the year ending 31 March 2014 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 12 December 2014 and signed on its behalf by:

.........................................
Mr Stephen Daniel Double
Director

The notes on page 3 form an integral part of these financial statements.
Page 2

Phoenix Corporate Gifts Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		99			99			99			99

Page 3