Phoenix From A Flame Limited
Director's Report and Unaudited Financial Statements
For the year ended 30 September 2015
30 September 2015
Company Registration No. 04063850 (England and Wales)
Phoenix From A Flame Limited
Company Information
Director
H M Downey
Company number
04063850
Registered office
Surrey House
36-44 High Street
Redhill
Surrey
RH1 1RH
Accountants
Kingston Smith LLP
Surrey House
36-44 High Street
Redhill
Surrey
RH1 1RH
Phoenix From A Flame Limited
Director's Report
For the year ended 30 September 2015
Page 1
The director presents her report and financial statements for the year ended 30 September 2015.
Principal activities
The principal activity of the company throughout the year was that of training consultants.
Director
The following director has held office since 1 October 2014:
H M Downey
Statement of director's responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
H M Downey
Director
27 September 2016
Phoenix From A Flame Limited
Chartered Accountants' Report to the Director on the preparation of the unaudited Statutory Financial Statements of Phoenix From A Flame Limited for the year ended 30 September 2015
Page 2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Phoenix From A Flame Limited for the year ended 30 September 2015 which comprise the Profit and Loss Account, the 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Phoenix From A Flame Limited, as a body, in accordance with the terms of our engagement letter dated 16 June 2011. Our work has been undertaken solely to prepare for your approval the financial statements of Phoenix From A Flame Limited and state those matters that we have agreed to state to the Board of Directors of Phoenix From A Flame Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phoenix From A Flame Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Phoenix From A Flame 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 Phoenix From A Flame Limited. You consider that Phoenix From A Flame 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 Phoenix From A Flame 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.
Kingston Smith LLP
27 September 2016
Chartered Accountants
Surrey House
36-44 High Street
Redhill
Surrey
RH1 1RH
Phoenix From A Flame Limited
Profit and Loss Account
For the year ended 30 September 2015
Page 3
2015
2014
Notes
£
£
Turnover
86,370
99,629
Administrative expenses
(43,671)
(42,962)
Operating profit
2
42,699
56,667
Interest payable and similar charges
(309)
(835)
Profit on ordinary activities before taxation
42,390
55,832
Tax on profit on ordinary activities
3
(8,673)
(11,720)
Profit for the year
10
33,717
44,112
Phoenix From A Flame Limited
Balance Sheet
As at 30 September 2015
Page 4
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
5
43
149
Current assets
Debtors
6
39,798
60,913
39,798
60,913
Creditors: amounts falling due within one year
7
(39,499)
(58,868)
Net current assets
299
2,045
Total assets less current liabilities
342
2,194
Creditors: amounts falling due after more than one year
8
-
(1,569)
Net assets
342
625
Capital and reserves
Called up share capital
9
2
2
Profit and loss account
10
340
623
Shareholder's funds
342
625
For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).
Approved by the Board for issue on 27 September 2016
H M Downey
Director
Company Registration No. 04063850
Phoenix From A Flame Limited
Notes to the Financial Statements
For the year ended 30 September 2015
Page 5
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents amounts receivable for services net of VAT.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% per annum straight line
2
Operating profit
2015
2014
£
£
Operating profit is stated after charging:
Depreciation of tangible assets
106
128
3
Taxation
2015
2014
£
£
Domestic current year tax
U.K. corporation tax
8,673
11,720
Total current tax
8,673
11,720
4
Dividends
2015
2014
£
£
Ordinary interim paid
34,000
44,000
Phoenix From A Flame Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2015
Page 6
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2014 & at 30 September 2015
8,366
Depreciation
At 1 October 2014
8,217
Charge for the year
106
At 30 September 2015
8,323
Net book value
At 30 September 2015
43
At 30 September 2014
149
6
Debtors
2015
2014
£
£
Trade debtors
3,664
9,184
Other debtors
36,134
51,729
39,798
60,913
7
Creditors: amounts falling due within one year
2015
2014
£
£
Bank loans and overdrafts
13,046
14,695
Trade creditors
9,363
7,164
Taxation and social security
13,415
33,970
Other creditors
3,675
3,039
39,499
58,868
Phoenix From A Flame Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2015
Page 7
8
Creditors: amounts falling due after more than one year
2015
2014
£
£
Bank loans
-
1,569
Analysis of loans
Wholly repayable within five years
1,586
3,353
Included in current liabilities
(1,586)
(1,784)
-
1,569
9
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
10
Statement of movements on profit and loss account
Profit and loss
account
£
Balance at 1 October 2014
623
Profit for the year
33,717
Dividends paid
(34,000)
Balance at 30 September 2015
340
11
Control
The company is controlled by the director, H M Downey, by virtue of her interest in the share capital of the company.
Phoenix From A Flame Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2015
Page 8
12
Related party relationships and transactions
Included within other debtors at the year end is an amount owed by the director of £25,750 (201
4
: £41,534). The following is a summary of the directors' transactions with the company during the year;
Advances to director £6
,
61
3
;
Payments on behalf of director £11,603.
The advances, and payments on the director's behalf, are interest-free and repayable on demand.
The director received dividends of £34,000 (201
4
: £
44,000
) in her capacity as a shareholder of the company.
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