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PHIL 4 ART LIMITED

Registered Number
10360989
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

PHIL 4 ART LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Director

Philip Privett

Registered Address

31 Wilder House Wilder Street
Bristol
BS2 8PH

Registered Number

10360989 (England and Wales)
PHIL 4 ART LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors108,4977,499
Cash at bank and on hand4,1033,422
12,60010,921
Creditors amounts falling due within one year11(7,274)(8,232)
Net current assets (liabilities)5,3262,689
Total assets less current liabilities5,3262,689
Net assets5,3262,689
Capital and reserves
Called up share capital11
Profit and loss account5,3252,688
Shareholders' funds5,3262,689
The financial statements were approved and authorised for issue by the Director on 19 October 2023, and are signed on its behalf by:
Philip Privett
Director
Registered Company No. 10360989
PHIL 4 ART LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is site management.
4.Basis of measurement used in financial statements
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).
5.Accounting policies
Turnover policy
Turnover is measured 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.
Revenue recognition policy
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 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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Going concern
The financial statements have been prepared on a going concern basis.
6.Critical estimates and judgements
In the application of the company's accounting policies, the directors are required to make judgement, estimates and assumptions about the carrying amount of assets and liabilities that are readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
7.Employee information

20232022
Average number of employees during the year11
8.Directors advances, credits and guarantees
The director maintains an interest free loan with the company. The balance owed to the director as at 30 September 2023 was £654 (2022 - £24).
9.Dividends proposed and payable

2023

2022

££
Dividends Paid25,00036,700
Total25,00036,700
10.Debtors

2023

2022

££
Trade debtors / trade receivables8,4977,328
Prepayments and accrued income-171
Total8,4977,499
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.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables137-
Taxation and social security6,4838,208
Other creditors65424
Total7,2748,232
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.