PHIL_JARVIS_LIMITED - Accounts

PHIL JARVIS LIMITED - Company Information

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Company Registration No. 04436124 (England and Wales)

PHIL JARVIS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

PHIL JARVIS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

PHIL JARVIS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

11,341

14,082

Current assets

Stocks

3,018

1,978

Debtors

3,084

865

Cash at bank and in hand

246

6,348

2,843

Creditors: amounts falling due within one year

(13,351)

(8,918)

Net current liabilities

(7,003)

(6,075)

Total assets less current liabilities

4,338

8,007

Creditors: amounts falling due after more than one year

(7,000)

(9,400)

Provisions for liabilities

(1,177)

(1,417)

(3,839)

(2,810)

Capital and reserves

Called up share capital

100

Profit and loss account

(3,939)

(2,910)

Shareholders' funds

(3,839)

(2,810)

PHIL JARVIS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JULY 2016

- 2 -

For the financial year ended 31 July 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 28 April 2017

Mr P Jarvis

Director

Company Registration No. 04436124

PHIL JARVIS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

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 goods and services net of VAT and trade discounts.

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:

Fixtures, fittings and equipment

15% reducing balance

Motor vehicles

20% reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

1.7

Revenue recognition

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Sums not invoiced to clients are included in debtors.

1.8

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.

PHIL JARVIS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 1 August 2015 & at 31 July 2016

32,938

Depreciation

At 1 August 2015

18,856

Charge for the year

2,741

At 31 July 2016

21,597

Net book value

At 31 July 2016

11,341

At 31 July 2015

14,082

Share capital

2016

2015

Allotted, called up and fully paid

51 ordinary A shares of £1 each

26 ordinary B shares of £1 each

23 ordinary C shares of £1 each

100

Related party relationships and transactions

Transactions in relation to interest free loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr P Jarvis -

3,105

452

2,656

3,105

452

2,656