IRIS Accounts Production v23.3.0.418 05751837 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure057518372022-03-31057518372023-03-31057518372022-04-012023-03-31057518372021-03-31057518372021-04-012022-03-31057518372022-03-3105751837ns16:EnglandWales2022-04-012023-03-3105751837ns15:PoundSterling2022-04-012023-03-3105751837ns11:Director12022-04-012023-03-3105751837ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3105751837ns11:SmallEntities2022-04-012023-03-3105751837ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3105751837ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3105751837ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3105751837ns11:FullAccounts2022-04-012023-03-310575183712022-04-012023-03-3105751837ns11:RegisteredOffice2022-04-012023-03-3105751837ns6:CurrentFinancialInstruments2023-03-3105751837ns6:CurrentFinancialInstruments2022-03-3105751837ns6:Non-currentFinancialInstruments2023-03-3105751837ns6:Non-currentFinancialInstruments2022-03-3105751837ns6:ShareCapital2023-03-3105751837ns6:ShareCapital2022-03-3105751837ns6:RetainedEarningsAccumulatedLosses2023-03-3105751837ns6:RetainedEarningsAccumulatedLosses2022-03-3105751837ns6:NetGoodwill2022-04-012023-03-3105751837ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3105751837ns6:PlantMachinery2022-04-012023-03-3105751837ns6:FurnitureFittings2022-04-012023-03-3105751837ns6:NetGoodwill2022-03-3105751837ns6:NetGoodwill2023-03-3105751837ns6:NetGoodwill2022-03-3105751837ns6:PlantMachinery2022-03-3105751837ns6:FurnitureFittings2022-03-3105751837ns6:PlantMachinery2023-03-3105751837ns6:FurnitureFittings2023-03-3105751837ns6:PlantMachinery2022-03-3105751837ns6:FurnitureFittings2022-03-3105751837ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3105751837ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3105751837ns6:CurrentFinancialInstruments2022-04-012023-03-3105751837ns6:Non-currentFinancialInstruments2022-04-012023-03-31
REGISTERED NUMBER: 05751837 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

L PHILLISKIRK & SON LTD

L PHILLISKIRK & SON LTD (REGISTERED NUMBER: 05751837)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L PHILLISKIRK & SON LTD

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTORS:
Mr J Lowe





REGISTERED OFFICE: Yewhurst
Wetherby Road
Rufforth
York
YO23 3QF





REGISTERED NUMBER: 05751837 (England and Wales)





ACCOUNTANTS: Fortus North Limited
Equinox House
Clifton Park, Shipton Road
York
Yorkshire
YO30 5PA

L PHILLISKIRK & SON LTD (REGISTERED NUMBER: 05751837)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,200 21,600
Tangible assets 5 626,583 602,651
645,783 624,251

CURRENT ASSETS
Stocks 14,500 14,500
Debtors 6 69,902 107,871
Investments 7 3,137 2,599
Cash at bank 32,405 94,740
119,944 219,710
CREDITORS
Amounts falling due within one year 8 109,873 132,712
NET CURRENT ASSETS 10,071 86,998
TOTAL ASSETS LESS CURRENT LIABILITIES 655,854 711,249

CREDITORS
Amounts falling due after more than
one year

9

(147,777

)

(58,319

)

PROVISIONS FOR LIABILITIES (119,051 ) (114,504 )
NET ASSETS 389,026 538,426

CAPITAL AND RESERVES
Called up share capital 35 35
Retained earnings 388,991 538,391
SHAREHOLDERS' FUNDS 389,026 538,426

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

L PHILLISKIRK & SON LTD (REGISTERED NUMBER: 05751837)

BALANCE SHEET - continued
31 March 2023


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

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 10 October 2023 and were signed on its behalf by:





Mr J Lowe - Director


L PHILLISKIRK & SON LTD (REGISTERED NUMBER: 05751837)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

L Philliskirk & Son Ltd 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.

These financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

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

Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


L PHILLISKIRK & SON LTD (REGISTERED NUMBER: 05751837)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown with borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 60,000
AMORTISATION
At 1 April 2022 38,400
Amortisation for year 2,400
At 31 March 2023 40,800
NET BOOK VALUE
At 31 March 2023 19,200
At 31 March 2022 21,600

L PHILLISKIRK & SON LTD (REGISTERED NUMBER: 05751837)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 927,150 5,572 932,722
Additions 92,500 2,511 95,011
Disposals (16,973 ) (1,236 ) (18,209 )
At 31 March 2023 1,002,677 6,847 1,009,524
DEPRECIATION
At 1 April 2022 327,641 2,430 330,071
Charge for year 60,595 1,145 61,740
Eliminated on disposal (7,992 ) (878 ) (8,870 )
At 31 March 2023 380,244 2,697 382,941
NET BOOK VALUE
At 31 March 2023 622,433 4,150 626,583
At 31 March 2022 599,509 3,142 602,651

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 53,041 99,359
Other debtors 16,861 8,512
69,902 107,871

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 3,137 2,599

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,952 10,648
Hire purchase contracts 48,369 39,343
Trade creditors 28,823 38,192
Taxation and social security 20,879 42,351
Other creditors 1,850 2,178
109,873 132,712

Bank loans and overdrafts are secured by a fixed and floating charge over all assets of the company.

L PHILLISKIRK & SON LTD (REGISTERED NUMBER: 05751837)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 22,436 31,446
Hire purchase contracts 125,341 26,873
147,777 58,319

Bank loans are secured by a fixed and floating charge over all assets of the company.

10. RELATED PARTY DISCLOSURES

As at 31 March 2023 included in "Other Creditors" is £350 (2022 : £678) owed to the director of the company.