PHG Capital Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08435234 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

PHG CAPITAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

M A Greenman

N Humphries

M J Pearcey

REGISTERED OFFICE:

19 Millwood

Lisvane

Cardiff

CF14 0TL

REGISTERED NUMBER:

08435234 (England and Wales)

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

FIXED ASSETS

Investment property

5

1,685,248

2,950,841

CURRENT ASSETS

Debtors

6

7,134

22,489

Cash at bank

795

79,025

7,929

101,514

CREDITORS

Amounts falling due within one year

7

(9,916

)

(988,808

)

NET CURRENT LIABILITIES

(1,987

)

(887,294

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,683,261

2,063,547

CREDITORS

Amounts falling due after more than one year

8

(700,000

)

(1,165,000

)

NET ASSETS

983,261

898,547

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

983,258

898,544

SHAREHOLDERS' FUNDS

983,261

898,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 12 July 2018 and were signed on its behalf by:

M J Pearcey - Director

M A Greenman - Director

N Humphries - Director

1.	STATUTORY INFORMATION

PHG Capital 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit

arising from changes in fair value is recognised in profit or loss.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 3 ).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

2,950,841

Additions

76,354

Disposals

(1,341,947

)

At 31 March 2018

1,685,248

NET BOOK VALUE

At 31 March 2018

1,685,248

At 31 March 2017

2,950,841

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

7,134

22,489

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

869,279

Tax

8,366

117,974

Accrued expenses

1,550

1,555

9,916

988,808

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans more 5 yr by instal

400,000

400,000

Directors' loan accounts

300,000

765,000

700,000

1,165,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

400,000

400,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

400,000

1,269,279

10.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party, the company is owned equally by the 3 directors.

The following reproduces the text of the report prepared for the directors 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 Directors 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 PHG Capital Limited for the year ended 31 March 2018

which comprise the Income Statement, 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 Board of Directors of PHG Capital Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PHG Capital Limited and state those matters that we have agreed to state to the Board of Directors of PHG Capital Limited, as a body, 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 PHG Capital Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PHG Capital 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 profit of PHG Capital Limited. You consider that PHG Capital 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 PHG Capital 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.

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

13 July 2018