back to PHOENIX COMMERCIAL CONSULTING LTD detail Phoenix Commercial Consulting Ltd - Filleted accounts
Registered number
SC572156
Phoenix Commercial Consulting Ltd
Unaudited Filleted Accounts
31 July 2018
Phoenix Commercial Consulting Ltd
Registered number: SC572156
Balance Sheet
as at 31 July 2018
Notes 2018
£
Fixed assets
Tangible assets 3 2,356
Current assets
Debtors 4 4,744
Cash at bank and in hand 138,156
142,900
Creditors: amounts falling due within one year 5 (29,585)
Net current assets 113,315
Net assets 115,671
Capital and reserves
Called up share capital 1
Profit and loss account 115,670
Shareholder's funds 115,671
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Robin Sharp
Director
Approved by the board on 19 October 2018
Phoenix Commercial Consulting Ltd
Notes to the Accounts
for the period from 27 July 2017 to 31 July 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover - Services
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2018
Number
Average number of persons employed by the company including paid directors and office holders 1
3 Tangible fixed assets
Equipment
£
Cost
Additions 3,534
At 31 July 2018 3,534
Depreciation
Charge for the period 1,178
At 31 July 2018 1,178
Net book value
At 31 July 2018 2,356
4 Debtors 2018
£
Trade debtors 4,640
Other debtors 104
4,744
5 Creditors: amounts falling due within one year 2018
£
Corporation tax 26,640
Other taxes and social security costs 2,697
Director's current account 122
Other creditors 126
29,585
6 Controlling party
The company is controlled by Robin Sharp by virtue of his 100% shareholding.
7 Other information
Phoenix Commercial Consulting Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
54 Albury Mansions
Aberdeen
AB11 6TJ
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