Phillips (Autos) Limited 02912552 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is Non trading Digita Accounts Production Advanced 6.30.9574.0 true true 02912552 2022-07-01 2023-06-30 02912552 2023-06-30 02912552 core:CapitalRedemptionReserve 2023-06-30 02912552 core:RetainedEarningsAccumulatedLosses 2023-06-30 02912552 core:ShareCapital 2023-06-30 02912552 core:CurrentFinancialInstruments 2023-06-30 02912552 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 02912552 core:OfficeEquipment 2023-06-30 02912552 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-30 02912552 bus:SmallEntities 2022-07-01 2023-06-30 02912552 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 02912552 bus:FullAccounts 2022-07-01 2023-06-30 02912552 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 02912552 bus:RegisteredOffice 2022-07-01 2023-06-30 02912552 bus:CompanySecretaryDirector2 2022-07-01 2023-06-30 02912552 bus:Director1 2022-07-01 2023-06-30 02912552 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 02912552 bus:Agent1 2022-07-01 2023-06-30 02912552 core:MotorVehicles 2022-07-01 2023-06-30 02912552 core:OfficeEquipment 2022-07-01 2023-06-30 02912552 countries:EnglandWales 2022-07-01 2023-06-30 02912552 2022-06-30 02912552 core:OfficeEquipment 2022-06-30 02912552 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-06-30 02912552 2021-07-01 2022-06-30 02912552 2022-06-30 02912552 core:CapitalRedemptionReserve 2022-06-30 02912552 core:RetainedEarningsAccumulatedLosses 2022-06-30 02912552 core:ShareCapital 2022-06-30 02912552 core:CurrentFinancialInstruments 2022-06-30 02912552 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 02912552 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-06-30 02912552 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-07-01 2022-06-30 02912552 2021-06-30 02912552 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-06-30 iso4217:GBP xbrli:pure

Registration number: 02912552

Phillips (Autos) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Phillips (Autos) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Phillips (Autos) Limited

Company Information

Directors

Mr BD Phillips

Mrs J L Jeanes

Company secretary

Mrs J L Jeanes

Registered office

2 The Cedars
Higham Lane
Bridge
Canterbury
Kent
CT4 5DS

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Phillips (Autos) Limited
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Phillips (Autos) Limited for the year ended 30 June 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Phillips (Autos) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Phillips (Autos) Limited and state those matters that we have agreed to state to the Board of Directors of Phillips (Autos) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/
factsheet-163-audit-exempt-companies.html.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phillips (Autos) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Phillips (Autos) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Phillips (Autos) Limited. You consider that Phillips (Autos) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Phillips (Autos) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

23 October 2023

 

Phillips (Autos) Limited

(Registration number: 02912552)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

79,810

79,810

Cash at bank and in hand

 

11,733

37,030

 

91,543

116,840

Creditors: Amounts falling due within one year

6

(1,202)

(1,400)

Net assets

 

90,341

115,440

Capital and reserves

 

Called up share capital

1

1

Capital redemption reserve

699,999

699,999

Retained earnings

(609,659)

(584,560)

Shareholders' funds

 

90,341

115,440

 

Phillips (Autos) Limited

(Registration number: 02912552)
Balance Sheet as at 30 June 2023 (continued)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 October 2023 and signed on its behalf by:
 

.........................................
Mr BD Phillips
Director

   
     
 

Phillips (Autos) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 The Cedars
Higham Lane
Bridge
Canterbury
Kent
CT4 5DS

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Office equipment

33% on cost

 

Phillips (Autos) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Phillips (Autos) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2022

502

502

At 30 June 2023

502

502

Depreciation

At 1 July 2022

502

502

At 30 June 2023

502

502

Carrying amount

At 30 June 2023

-

-

5

Debtors

Current

2023
£

2022
£

Other debtors

79,810

79,810

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

302

300

Accruals and deferred income

900

1,100

1,202

1,400

 

Phillips (Autos) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

7

Related party transactions

Loans to related parties

2023

Key management
£

Total
£

At start of period

61,067

61,067

At end of period

61,067

61,067

2022

Key management
£

Total
£

At start of period

71,550

71,550

Repaid

(10,483)

(10,483)

At end of period

61,067

61,067