Phil Quaife Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06059109 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2014

for

Phil Quaife Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M J Quaife

P J Quaife

SECRETARY:

Mrs S Quaife

REGISTERED OFFICE:

The Chestnuts

Springwood Park

Tonbridge

Kent

TN11 9LZ

REGISTERED NUMBER:

06059109 (England and Wales)

ACCOUNTANTS:

Easy Accountancy

Frederick House

42 Frederick Place

Brighton

East Sussex

BN1 4EA

FIXED ASSETS

Tangible assets

2

1,027

1,456

CURRENT ASSETS

Debtors

439

4,461

Cash at bank

23,117

25,600

23,556

30,061

CREDITORS

Amounts falling due within one year

79,988

81,771

NET CURRENT LIABILITIES

(56,432

)

(51,710

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(55,405

)

(50,254

)

CREDITORS

Amounts falling due after more than one year

107,300

107,393

NET LIABILITIES

(162,705

)

(157,647

)

CAPITAL AND RESERVES

Called up share capital

3

1,000

1,000

Profit and loss account

(163,705

)

(158,647

)

SHAREHOLDERS' FUNDS

(162,705

)

(157,647

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 19 May 2015 and were signed on its behalf by:

P J Quaife - Director

M J Quaife - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The Director's pledge their ongoing support of the Company and as such the Accounts have been

prepared on a going concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

Straight line over 3 years

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

4,130

DEPRECIATION

At 1 January 2014

2,674

Charge for year

429

At 31 December 2014

3,103

NET BOOK VALUE

At 31 December 2014

1,027

At 31 December 2013

1,456

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

1,000

Ordinary

£1

1,000

1,000

4.	CONTROL NOTE

The company is under the control of its directors, Mr P Quaife, the owner of 60% of the issued share

capital and Mr M Quaife, the owner of 40% of the issued share capital.