PHA Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08169256 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

PHA ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

Directors:

P Henderson

Mrs V H Henderson

Registered office:

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Registered number:

08169256 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Fixed assets

Tangible assets

4

16,821

13,287

Current assets

Debtors

5

255,209

199,198

Investments

6

138,581

171,564

Cash at bank

50,978

15,483

444,768

386,245

Creditors

Amounts falling due within one year

7

57,268

32,647

Net current assets

387,500

353,598

Total assets less current liabilities

404,321

366,885

Capital and reserves

Called up share capital

8

100

100

Retained earnings

9

404,221

366,785

Shareholders' funds

404,321

366,885

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 18 December 2018 and were signed on its behalf by:

P Henderson - Director

Mrs V H Henderson - Director

1.	Statutory information

PHA Associates 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.

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

-

20% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

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.

Current asset investments

Current asset investments are measured at fair value. Fair value is obtained from quoted prices on the active market.

During the year, the loss in value included in the profit and loss is £5,128 (2017: gain £9,305).

3.	Employees and directors

The average number of employees during the year was 2 (2017 - 2 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

Cost

At 1 April 2017

25,000

-

2,544

27,544

Additions

-

9,217

1,606

10,823

At 31 March 2018

25,000

9,217

4,150

38,367

Depreciation

At 1 April 2017

12,096

-

2,161

14,257

Charge for year

5,000

1,383

906

7,289

At 31 March 2018

17,096

1,383

3,067

21,546

Net book value

At 31 March 2018

7,904

7,834

1,083

16,821

At 31 March 2017

12,904

-

383

13,287

5.

Debtors: amounts falling due within one year

2018

2017

£

£

Trade debtors

21,302

7,899

Other debtors

81,855

60,855

Directors' current accounts

135,802

109,374

Prepayments and accrued income

16,250

21,070

255,209

199,198

6.	Current asset investments

2018

2017

£

£

Listed investments

138,581

171,564

7.

Creditors: amounts falling due within one year

2018

2017

£

£

Trade creditors

1,680

-

Tax

46,666

20,000

Social security and other taxes

(1,397

)

-

VAT

5,419

9,922

Other creditors

1,450

-

Accrued expenses

3,450

2,725

57,268

32,647

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

9.

Reserves

Retained

earnings

£

At 1 April 2017

366,785

Profit for the year

202,936

Dividends

(165,500

)

At 31 March 2018

404,221

10.	Directors' advances, credits and guarantees

The amount owed to the company by the directors at 31 March 2018 is £135,802 (2016: £109,374). During the year,

£110,000 was repaid, and a further £136,428 was advanced.

The loans are interest free and repayment is required on demand.

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 Statement of Comprehensive Income 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 PHA Associates Limited for the year ended 31 March 2018 which comprise the Income Statement, Balance Sheet,

Statement of Changes in Equity 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 PHA Associates 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 PHA Associates Limited and state those matters that we have agreed to state to the Board of Directors of PHA Associates 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 PHA Associates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PHA Associates 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 PHA Associates Limited. You consider that PHA Associates 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 PHA Associates 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.

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

18 December 2018