PK Phones Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08442669 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2018

for

PK Phones Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P H Kubis

REGISTERED OFFICE:

Glenstone

Lightwood Green Avenue

Lightwood Green

Audlem

Cheshire

CW3 0EN

REGISTERED NUMBER:

08442669 (England and Wales)

FIXED ASSETS

Intangible assets

4

20,000

24,000

Tangible assets

5

201

268

20,201

24,268

CURRENT ASSETS

Debtors

4,837

815

CREDITORS

Amounts falling due within one year

15,673

25,293

NET CURRENT LIABILITIES

(10,836

)

(24,478

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,365

(210

)

CREDITORS

Amounts falling due after more than one year

10,000

-

NET LIABILITIES

(635

)

(210

)

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

(736

)

(311

)

SHAREHOLDERS' FUNDS

(635

)

(210

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 14th December 2018 and were signed by:

P H Kubis - Director

1.	STATUTORY INFORMATION

PK Phones 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 and represents amounts

receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognized when goods have been delivered to customers such that risks and rewards of ownership

have transferred to them.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses

Financial instruments

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

loans and directors loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors loans (being repayable on demand ), trade debtors and trade creditors are measured at the undiscounted

amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at 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 Profit and Loss Account,

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2017

and 31st March 2018

40,000

AMORTISATION

At 1st April 2017

16,000

Amortisation for year

4,000

At 31st March 2018

20,000

NET BOOK VALUE

At 31st March 2018

20,000

At 31st March 2017

24,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2017

and 31st March 2018

849

DEPRECIATION

At 1st April 2017

581

Charge for year

67

At 31st March 2018

648

NET BOOK VALUE

At 31st March 2018

201

At 31st March 2017

268

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P H Kubis, who is sole director and majority shareholder of the company.