Phil Madden Ltd - Accounts to registrar (filleted) - small 18.1

Phil Madden Ltd - Accounts to registrar (filleted) - small 18.1

PHIL MADDEN LTD - Company Information

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REGISTERED NUMBER: 07028971 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

PHIL MADDEN LTD
PHIL MADDEN LTD (REGISTERED NUMBER: 07028971)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PHIL MADDEN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2017







DIRECTOR: P Madden





REGISTERED OFFICE: 250 Hendon Way
London
NW4 3NL





REGISTERED NUMBER: 07028971 (England and Wales)





ACCOUNTANTS: Harford Michaels Kaye Limited
Chartered Certified Accountants
250 Hendon Way
London
NW4 3NL
Page 1
PHIL MADDEN LTD (REGISTERED NUMBER: 07028971)

BALANCE SHEET
30 SEPTEMBER 2017

2017 2016
Notes £    £   
FIXED ASSETS
Tangible assets 4 617 823

CURRENT ASSETS
Debtors 5 15,331 3,750
Cash at bank 311 11,672
15,642 15,422
CREDITORS
Amounts falling due within one year 6 (16,142 ) (21,362 )
NET CURRENT LIABILITIES (500 ) (5,940 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
117
(5,117
)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 17 (5,217 )
SHAREHOLDERS' FUNDS 117 (5,117 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 24 May 2018 and were signed by:





P Madden - Director


The notes form part of these financial statements

Page 2
PHIL MADDEN LTD (REGISTERED NUMBER: 07028971)

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

1. STATUTORY INFORMATION

Phil Madden Ltd 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 30 September 2017 are the first that are prepared in accordance
with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the
date of transition to FRS 102 Section 1A is 1 October 2015.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank
loans and directors loans.

Directors loans (being repayable on demand), are measured at the undiscounted amount of the cash or other
consideration expected to be paid or received.

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 the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Page 3 continued...
PHIL MADDEN LTD (REGISTERED NUMBER: 07028971)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the
balance sheet date and that a payment will be required in settlement that can be estimated reliably.Where
material, provisions are calculated on a discounted basis.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to
changes in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2016
and 30 September 2017 3,139
DEPRECIATION
At 1 October 2016 2,316
Charge for year 206
At 30 September 2017 2,522
NET BOOK VALUE
At 30 September 2017 617
At 30 September 2016 823

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 10,680 3,750
Other debtors 4,651 -
15,331 3,750

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Taxation and social security 16,142 18,642
Other creditors - 2,720
16,142 21,362

Page 4 continued...
PHIL MADDEN LTD (REGISTERED NUMBER: 07028971)

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

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
100 Ordinary £1 100 100

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £29,820 were paid to the director .

As at the balance sheet date the director P Madden owed the company £4,651 (2016-£2,720).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Madden by virtue of his majority shareholding in the company.

10. FIRST YEAR ADOPTION

These financial statements for the year ended 31st September 2017 are the first financial statements that comply
with FRS 102 Section 1A for small entities.The transition to FRS102 Section 1A for small entities has resulted in
a small number of changes in accounting policies to those used previously, as detailed on the following pages.

Page 5