PHZ Group Ltd - Accounts to registrar (filleted)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

FOR

PHZ GROUP LTD

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTORS:

Mr J R Timms

Mrs K Timms

REGISTERED OFFICE:

Tower House

Unit 24 Wilford Business Park

Ruddington Lane

Nottingham

NG11 7EP

REGISTERED NUMBER:

09148942 (England and Wales)

ACCOUNTANTS:

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

The directors present their report with the financial statements of the company for the year ended 31 August 2021.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Consultancy services

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2020 to the date of this report.

Mr J R Timms

Mrs K Timms

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr J R Timms - Director

26 May 2022

CURRENT ASSETS

Debtors

4

2,421,080

3,040,339

Cash at bank

18,704

21,796

2,439,784

3,062,135

CREDITORS

Amounts falling due within one year

5

40,126

93,927

NET CURRENT ASSETS

2,399,658

2,968,208

TOTAL ASSETS LESS CURRENT LIABILITIES

2,399,658

2,968,208

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

2,399,558

2,968,108

SHAREHOLDERS' FUNDS

2,399,658

2,968,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2022 and were signed on its behalf by:

Mr J R Timms - Director

1.	STATUTORY INFORMATION

PHZ Group Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about PHZ Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

as restated

£

Amounts owed by group undertakings

755,237

637,000

Amounts owed by associates

4,200

-

Other debtors

1,661,643

2,152,214

Directors' current accounts

-

195,262

Tax

-

55,863

2,421,080

3,040,339

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

as restated

£

Tax

32,476

81,926

Social security and other taxes

376

-

Other creditors

381

-

Accrued expenses

6,893

12,001

40,126

93,927

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2021 and 31 August 2020:

31.8.21

31.8.20

as restated

£

Mr J R Timms

Balance outstanding at start of year

195,262

443,234

Amounts advanced

559,975

-

Amounts repaid

(755,237

)

(247,972

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

195,262

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2021 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

Date: .............................................

PHZ Group Ltd - Accounts to registrar (filleted) - small 18.2

PHZ Group Ltd - Accounts to registrar (filleted) - small 18.2