REGISTERED NUMBER: 01642571 (England and Wales)

Abbreviated Accounts

for the Year Ended 30th June 2016

for

PHOENIX SURGICAL INSTRUMENTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J W Twigger

N Mitchinson

SECRETARY:

J W Twigger

REGISTERED OFFICE:

14 Pindar Road

Hoddesdon

Hertfordshire

EN11 0BZ

REGISTERED NUMBER:

01642571 (England and Wales)

ACCOUNTANTS:

G.H. Attenborough & Co. Ltd.

Chartered Certified Accountants

1 Tower House

Tower Centre

Hoddesdon

Hertfordshire

EN11 8UR

BANKERS:

Lloyds TSB

Hertford Business Centre

1 Bircherley Street

Hertford

Hertfordshire

SG14 1BU

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

830,719

829,214

830,719

829,214

CURRENT ASSETS

Stocks

524,091

261,614

Debtors

1,094,018

961,758

Cash at bank and in hand

323,241

288,779

1,941,350

1,512,151

CREDITORS

Amounts falling due within one year

928,300

883,934

NET CURRENT ASSETS

1,013,050

628,217

TOTAL ASSETS LESS CURRENT LIABILITIES

1,843,769

1,457,431

CREDITORS

Amounts falling due after more than one year

(149,692

)

(220,917

)

PROVISIONS FOR LIABILITIES

(28,855

)

(23,439

)

NET ASSETS

1,665,222

1,213,075

CAPITAL AND RESERVES

Called up share capital

4

100

100

Capital redemption reserve

75

75

Profit and loss account

1,665,047

1,212,900

SHAREHOLDERS' FUNDS

1,665,222

1,213,075

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2016 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.

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 21st July 2016 and were signed on its behalf by:

J W Twigger - Director

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of two years.

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

Tools and equipment

-

20% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer and office equipment

-

25% on reducing balance

The company has acquired two leasehold properties. The first was acquired in May 2004 with 77 years and 7

months unexpired and the second in December 2014 with 66 years and 10 months unexpired. Both are

depreciated to write off the book value in equal annual instalments (pro-rata) over the unexpired period of the

lease.

Fixed assets are subject to impairment review. Any impairment in the value of fixed assets is charged to the

profit and loss account as it arises.

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.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2015

and 30th June 2016

32,837

AMORTISATION

At 1st July 2015

and 30th June 2016

32,837

NET BOOK VALUE

At 30th June 2016

-

At 30th June 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2015

1,213,674

Additions

73,505

Disposals

(7,747

)

At 30th June 2016

1,279,432

DEPRECIATION

At 1st July 2015

384,460

Charge for year

69,344

Eliminated on disposal

(5,091

)

At 30th June 2016

448,713

NET BOOK VALUE

At 30th June 2016

830,719

At 30th June 2015

829,214

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/6/16

30/6/15

value:

£

£

95

Ordinary A

£1

95

95

5

Ordinary B

£1

5

5

100

100

5.	ULTIMATE PARENT COMPANY