Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28falseproperty development2022-03-0111truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11183322 2022-03-01 2023-02-28 11183322 2021-03-01 2022-02-28 11183322 2023-02-28 11183322 2022-02-28 11183322 c:Director1 2022-03-01 2023-02-28 11183322 d:MotorVehicles 2022-03-01 2023-02-28 11183322 d:MotorVehicles 2023-02-28 11183322 d:MotorVehicles 2022-02-28 11183322 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11183322 d:CurrentFinancialInstruments 2023-02-28 11183322 d:CurrentFinancialInstruments 2022-02-28 11183322 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11183322 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11183322 d:ShareCapital 2023-02-28 11183322 d:ShareCapital 2022-02-28 11183322 d:RetainedEarningsAccumulatedLosses 2023-02-28 11183322 d:RetainedEarningsAccumulatedLosses 2022-02-28 11183322 c:FRS102 2022-03-01 2023-02-28 11183322 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11183322 c:FullAccounts 2022-03-01 2023-02-28 11183322 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11183322 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure
Registered number: 11183322






PHILLIDEV LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 28 FEBRUARY 2023

 
PHILLIDEV LIMITED
REGISTERED NUMBER: 11183322

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
54,879
73,172

  
54,879
73,172

Current assets
  

Stocks
  
6,897,167
4,788,299

Debtors: amounts falling due within one year
 5 
185,702
-

Cash at bank and in hand
 6 
625,214
2,450,286

  
7,708,083
7,238,585

Creditors: amounts falling due within one year
 7 
(7,879,645)
(7,377,075)

Net current liabilities
  
 
 
(171,562)
 
 
(138,490)

Total assets less current liabilities
  
(116,683)
(65,318)

  

Net liabilities
  
(116,683)
(65,318)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(116,783)
(65,418)

  
(116,683)
(65,318)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.


 
Page 1

 
PHILLIDEV LIMITED
REGISTERED NUMBER: 11183322
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 September 2023.



A Massenet
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PHILLIDEV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Phillidev Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is Calder & Co, 30 Orange Street, London, WC2H 7HF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The validity of this basis relies on the continuing support of its director. The director has confirmed that this support will not be withdrawn for the foreseeable future, to allow the company to meet its liabilities as they fall due. The director therefore considers its appropriate that the financial statements are prepared on a going concern basis.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
PHILLIDEV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
PHILLIDEV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 March 2022
97,563



At 28 February 2023

97,563



Depreciation


At 1 March 2022
24,391


Charge for the year on owned assets
18,293



At 28 February 2023

42,684



Net book value



At 28 February 2023
54,879



At 28 February 2022
73,172


5.


Debtors

2023
2022
£
£


Other debtors
185,702
-



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
625,214
2,450,286


Page 5

 
PHILLIDEV LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,426
900

Other creditors
7,872,935
7,373,175

Accruals and deferred income
3,284
3,000

7,879,645
7,377,075



8.


Related party transactions

As at 28 February 2023, the director was owed £7,872,935 (2022; £7,373,175) by the company by virtue of a directors current account. This amount is interest free and has no fixed repayment terms.

 
Page 6