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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH APRIL 2017 |
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PHASTEC LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH APRIL 2017 |
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FOR |
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PHASTEC LIMITED |
PHASTEC LIMITED (REGISTERED NUMBER: 03964335) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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PHASTEC LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH APRIL 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
83 Cambridge Street |
Pimlico |
London |
SW1V 4PS |
PHASTEC LIMITED (REGISTERED NUMBER: 03964335) |
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BALANCE SHEET |
30TH APRIL 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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PHASTEC LIMITED (REGISTERED NUMBER: 03964335) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2017 |
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1. | STATUTORY INFORMATION |
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Phastec Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First Year Adoption of FRS 102 |
This the first year that the company has presented its results under FRS 102. The last financial statements under |
UK GAAP were for the year ended 30th April 2016. The date of transition to FRS 102 was 1st May 2015. There |
are no transitional adjustments arising from the first time adoption of FRS 102. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer & other equipment | - |
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Financial instruments |
The company only enters into basic financial transactions that result in the recognition of financial assets and |
liabilities like trade and other debtors and creditors, loans from banks and other third parties and investments in |
non-puttable ordinary shares. |
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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 profit or loss. |
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Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
the asset and settle the liability simultaneously. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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PHASTEC LIMITED (REGISTERED NUMBER: 03964335) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2017 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures | Computer |
and | & other |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1st May 2016 |
and 30th April 2017 |
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DEPRECIATION |
At 1st May 2016 |
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Charge for year |
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At 30th April 2017 |
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NET BOOK VALUE |
At 30th April 2017 |
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At 30th April 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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VAT |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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VAT | - | 713 |
Directors' current accounts | 28,717 | 22,958 |
Accrued expenses |
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7. | RELATED PARTY DISCLOSURES |
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At the year end the company owed the director £28,717 (2016: £22,958). |
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8. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of the director, Mr P. Arwar by virtue of his 100% shareholding of the issued |
share capital. |