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REGISTERED NUMBER: 13139581 (England and Wales)















Financial Statements for the Year Ended 31 January 2023

for

Phillips Hughes (PH) Limited

Phillips Hughes (PH) Limited (Registered number: 13139581)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Phillips Hughes (PH) Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Ms L Phillips
Mr J Hughes





REGISTERED OFFICE: 19 Park Street
Lytham
Lancashire
FY8 5LU





REGISTERED NUMBER: 13139581 (England and Wales)





ACCOUNTANTS: Ashworth Treasure Limited
Chartered Accountants
17-19 Park Street
Lytham
Lancashire
FY8 5LU

Phillips Hughes (PH) Limited (Registered number: 13139581)

Abridged Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,776 3,076

CURRENT ASSETS
Debtors 4,128 8,612
Cash at bank 120,477 11,888
124,605 20,500
CREDITORS
Amounts falling due within one year 53,650 14,109
NET CURRENT ASSETS 70,955 6,391
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,731

9,467

PROVISIONS FOR LIABILITIES 527 584
NET ASSETS 73,204 8,883

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 73,104 8,783
73,204 8,883

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:





Mr J Hughes - Director


Phillips Hughes (PH) Limited (Registered number: 13139581)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Phillips Hughes (PH) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax 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.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

Phillips Hughes (PH) Limited (Registered number: 13139581)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2022 3,625
Additions 1,121
At 31 January 2023 4,746
DEPRECIATION
At 1 February 2022 549
Charge for year 1,421
At 31 January 2023 1,970
NET BOOK VALUE
At 31 January 2023 2,776
At 31 January 2022 3,076

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 January 2023 and the period ended 31 January 2022:

2023 2022
£    £   
Mr J Hughes and Ms L Phillips
Balance outstanding at start of year 8,612 -
Amounts advanced 63,050 58,612
Amounts repaid (92,963 ) (50,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (21,301 ) 8,612

Interest was charged at the official rate of interest where appropriate.