Company Registration No. 07964906 (England and Wales)
PHACK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
PAGES FOR FILING WITH REGISTRAR
PHACK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PHACK LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2018
28 February 2018
- 1 -
2018
2017
Notes
£
£
£
£
Current assets
Debtors
3
1,998
-
Investments
4
-
400,000
Cash at bank and in hand
59,870
4,705
61,868
404,705
Creditors: amounts falling due within one year
5
(48,718)
(393,448)
Net current assets
13,150
11,257
Capital and reserves
Called up share capital
6
48
48
Profit and loss reserves
13,102
11,209
Total equity
13,150
11,257

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and signed by the director and authorised for issue on 12 November 2018
S Davies
Director
Company Registration No. 07964906
PHACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 2 -
1
Accounting policies
Company information

Phack Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 5 The Gables, 55-57 Netherhall Gardens, London, NW3 5RH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the profit or loss arising on the completion of each project. Income is recognised on a receipts basis.

1.3
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has only basic financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

1.5
Taxation

The tax expense represents tax currently payable. Deferred tax is considered to be negligible by the directors.

1.6

Current asset investments

Current asset investments are stated at the lower of cost and estimated selling price less costs to complete and sell.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2016: 1).

PHACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 3 -
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
1,998
-
4
Current asset investments
2018
2017
£
£
Other investments
-
400,000
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
-
1,960
Corporation tax
11,629
865
Other creditors
37,089
390,623
48,718
393,448
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
12 Ordinary A shares of £1 each
12
12
12 Ordinary B shares of £1 each
12
12
12 Ordinary C shares of £1 each
12
12
12 Ordinary D shares of £1 each
12
12
48
48
2018-02-282017-03-01falseCCH SoftwareCCH Accounts Production 2018.220No description of principal activity12 November 2018S DaviesS Davies079649062017-03-012018-02-28079649062018-02-2807964906core:CurrentFinancialInstruments2018-02-28079649062017-02-2807964906core:CurrentFinancialInstruments2017-02-2807964906core:ShareCapital2018-02-2807964906core:ShareCapital2017-02-2807964906core:RetainedEarningsAccumulatedLosses2018-02-2807964906core:RetainedEarningsAccumulatedLosses2017-02-2807964906core:ShareCapitalOrdinaryShares2018-02-2807964906core:ShareCapitalOrdinaryShares2017-02-2807964906bus:CompanySecretaryDirector12017-03-012018-02-2807964906bus:OrdinaryShareClass12017-03-012018-02-2807964906bus:OrdinaryShareClass22017-03-012018-02-2807964906bus:OrdinaryShareClass32017-03-012018-02-2807964906bus:OrdinaryShareClass12018-02-2807964906bus:OrdinaryShareClass22018-02-2807964906bus:OrdinaryShareClass32018-02-2807964906bus:PrivateLimitedCompanyLtd2017-03-012018-02-2807964906bus:FRS1022017-03-012018-02-2807964906bus:AuditExemptWithAccountantsReport2017-03-012018-02-2807964906bus:SmallCompaniesRegimeForAccounts2017-03-012018-02-2807964906bus:Director12017-03-012018-02-2807964906bus:CompanySecretary12017-03-012018-02-2807964906bus:FullAccounts2017-03-012018-02-28xbrli:purexbrli:sharesiso4217:GBP