J.Phillips & Sons Limited - Limited company - abbreviated - 11.0.0

J.Phillips & Sons Limited - Limited company - abbreviated - 11.0.0


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REGISTERED NUMBER: 01051614(England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2014

FOR

J.PHILLIPS & SONS LIMITED

J.PHILLIPS & SONS LIMITED (REGISTERED NUMBER: 01051614)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

J.PHILLIPS & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2014







DIRECTORS: J Phillips
V Phillips
A J Phillips



SECRETARY: L Phillips



REGISTERED OFFICE: Wellington Sawmill
Wellington Street
Westhoughton
Bolton
BL5 3YW



REGISTERED NUMBER: 01051614(England and Wales)



ACCOUNTANTS: Ryans
Chartered Accountants
67 Chorley Old Road
Bolton
BL1 3AJ



BANKERS: The Royal Bank of Scotland plc
46-48 Deansgate
Bolton
BL1 1BH

J.PHILLIPS & SONS LIMITED (REGISTERED NUMBER: 01051614)

ABBREVIATED BALANCE SHEET
31ST MARCH 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 69,306 51,383

CURRENT ASSETS
Stocks 15,140 9,449
Debtors 128,845 165,191
Cash at bank and in hand 76,744 54,576
220,729 229,216
CREDITORS
Amounts falling due within one year 116,850 105,159
NET CURRENT ASSETS 103,879 124,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,185

175,440

CREDITORS
Amounts falling due after more than one
year

(15,211
)
-

PROVISIONS FOR LIABILITIES (10,613 ) (5,793 )
NET ASSETS 147,361 169,647

CAPITAL AND RESERVES
Called up share capital 3 2,000 2,000
Profit and loss account 145,361 167,647
SHAREHOLDERS' FUNDS 147,361 169,647

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

J.PHILLIPS & SONS LIMITED (REGISTERED NUMBER: 01051614)

ABBREVIATED BALANCE SHEET - continued
31ST MARCH 2014


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 26th June 2014and were signed on its behalf by:





A J Phillips- Director


J.PHILLIPS & SONS LIMITED (REGISTERED NUMBER: 01051614)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2014

1. ACCOUNTING POLICIES

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).

Revenue
Revenue - described as turnover is the value of goods and services (net of vat) provided to customers during the
year.

Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by
reference to the time expended compared to the total anticipated time.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

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 the profit and loss account in the period to which they relate.

J.PHILLIPS & SONS LIMITED (REGISTERED NUMBER: 01051614)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31ST MARCH 2014

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1st April 2013 195,529
Additions 31,354
At 31st March 2014 226,883
DEPRECIATION
At 1st April 2013 144,146
Charge for year 13,431
At 31st March 2014 157,577
NET BOOK VALUE
At 31st March 2014 69,306
At 31st March 2013 51,383

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
1,600 Ordinary £1 1,600 1,600
350 'A' Ordinary £1 350 350
25 'B' Ordinary £1 25 25
25 'C' Ordinary £1 25 25
2,000 2,000