Company Registration No. 05860456 (England and Wales)
PHILIP MOODY LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
PHILIP MOODY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PHILIP MOODY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
11,113
12,432
Current assets
Debtors
30,010
31,086
Cash at bank and in hand
52,614
50,225
82,624
81,311
Creditors: amounts falling due within one year
(27,802)
(30,702)
Net current assets
54,822
50,609
Total assets less current liabilities
65,935
63,041
Provisions for liabilities
(85)
-
65,850
63,041
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
65,750
62,941
Shareholders' funds
65,850
63,041
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 20 October 2016
P Moody
Director
Company Registration No. 05860456
PHILIP MOODY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
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 January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for services net of VAT.
1.4
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:
Computer equipment
33.33% on the straight line basis
Fixtures, fittings & equipment
33.33% on the straight line basis
Motor vehicles
25% on the reducing balance
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
PHILIP MOODY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
37,133
Additions
4,007
At 31 March 2016
41,140
Depreciation
At 1 April 2015
24,701
Charge for the year
5,326
At 31 March 2016
30,027
Net book value
At 31 March 2016
11,113
At 31 March 2015
12,432
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
4
Related party relationships and transactions
Advances and credits granted to the directors during the year are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
P Moody -
-
240
-
496
(256)
240
-
-
496
(256)