PHIL NOALL LIMITED

Company Registration Number:
07857516 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2021

Period of accounts

Start date: 01 December 2020

End date: 30 November 2021

PHIL NOALL LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2021

Balance sheet
Notes

PHIL NOALL LIMITED

Balance sheet

As at 30 November 2021


Notes

2021

2020


£

£
Fixed assets
Tangible assets: 3 2,063 898
Total fixed assets: 2,063 898
Current assets
Debtors: 4 1,867 78
Cash at bank and in hand: 12,733 3,458
Total current assets: 14,600 3,536
Creditors: amounts falling due within one year: 5 (11,217) (3,318)
Net current assets (liabilities): 3,383 218
Total assets less current liabilities: 5,446 1,116
Total net assets (liabilities): 5,446 1,116
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 5,445 1,115
Shareholders funds: 5,446 1,116

The notes form part of these financial statements

PHIL NOALL LIMITED

Balance sheet statements

For the year ending 30 November 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 August 2022
and signed on behalf of the board by:

Name: P Noall
Status: Director

The notes form part of these financial statements

PHIL NOALL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measure at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contact. 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 and depreciation policy

Tangible fixed assets are measure 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: Office Equipment 18% Reducing Balance.

Other accounting policies

TaxationA 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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for re-valued land investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

PHIL NOALL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

2. Employees

2021 2020
Average number of employees during the period 1 1

PHIL NOALL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

3. Tangible Assets

Total
Cost £
At 01 December 2020 3,627
Additions 1,618
At 30 November 2021 5,245
Depreciation
At 01 December 2020 2,729
Charge for year 453
At 30 November 2021 3,182
Net book value
At 30 November 2021 2,063
At 30 November 2020 898

PHIL NOALL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

4. Debtors

Trade Debtors £1867.

PHIL NOALL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

5. Creditors: amounts falling due within one year note

Trade Creditors £81 Director's Loan Account £696 Other Taxes £9534 Accruals £906 Total £11217.