IRIS Accounts Production v23.3.0.418 04784246 director 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047842462022-03-31047842462023-03-31047842462022-04-012023-03-31047842462021-03-31047842462021-04-012022-03-31047842462022-03-3104784246ns10:Originalns15:EnglandWales2022-04-012023-03-3104784246ns14:PoundSterlingns10:Original2022-04-012023-03-3104784246ns10:Originalns10:Director12022-04-012023-03-3104784246ns10:Original2022-04-012023-03-3104784246ns10:Original2023-03-3104784246ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3104784246ns10:Originalns10:SmallEntities2022-04-012023-03-3104784246ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3104784246ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3104784246ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3104784246ns10:Originalns10:FullAccounts2022-04-012023-03-3104784246ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3104784246ns10:Originalns10:OrdinaryShareClass22022-04-012023-03-3104784246ns10:Originalns10:RegisteredOffice2022-04-012023-03-3104784246ns10:Original2022-03-3104784246ns10:Originalns5:CurrentFinancialInstruments2023-03-3104784246ns10:Originalns5:CurrentFinancialInstruments2022-03-3104784246ns5:ShareCapitalns10:Original2023-03-3104784246ns5:ShareCapitalns10:Original2022-03-3104784246ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3104784246ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3104784246ns10:Originalns5:FurnitureFittings2022-04-012023-03-3104784246ns10:Originalns5:ComputerEquipment2022-04-012023-03-3104784246ns10:Original2021-04-012022-03-3104784246ns10:Originalns5:FurnitureFittings2022-03-3104784246ns10:Originalns5:ComputerEquipment2022-03-3104784246ns10:Original2022-03-3104784246ns10:Originalns5:FurnitureFittings2023-03-3104784246ns10:Originalns5:ComputerEquipment2023-03-3104784246ns10:Originalns5:FurnitureFittings2022-03-3104784246ns10:Originalns5:ComputerEquipment2022-03-3104784246ns10:Originalns10:OrdinaryShareClass12023-03-3104784246ns10:Originalns10:OrdinaryShareClass22023-03-3104784246ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3104784246ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 04784246 (England and Wales)















Phillips Osborne Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023






Phillips Osborne Limited (Registered number: 04784246)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Phillips Osborne Limited

Company Information
for the year ended 31 March 2023







Director: M J Phillips





Registered office: Beech Court
31 Summers Road
Burnham
Buckinghamshire
SL1 7EP





Registered number: 04784246 (England and Wales)





Accountants: Haines Watts South East LLP
Chartered Accountants
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

Phillips Osborne Limited (Registered number: 04784246)

Balance Sheet
31 March 2023

2023 2022
Notes £ £
Current assets
Cash at bank 287,703 324,198

Creditors
Amounts falling due within one year 5 8,651 22,395
Net current assets 279,052 301,803
Total assets less current liabilities 279,052 301,803

Capital and reserves
Called up share capital 6 200 200
Retained earnings 7 278,852 301,603
Shareholders' funds 279,052 301,803

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 director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 November 2023 and were signed by:





M J Phillips - Director


Phillips Osborne Limited (Registered number: 04784246)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Phillips Osborne 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 FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The 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 pound.

The principal accounting policies adopted are set out below.

Turnover
Turnover primarily represents net amounts receivable, including case disbursements, for professional work undertaken under the legal services commission contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction. Financial liabilities classified as payable within one year are not amortised.

Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

Financial instruments
Cash and cash equivalents
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

Phillips Osborne Limited (Registered number: 04784246)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 April 2022
and 31 March 2023 8,721 14,978 23,699
Depreciation
At 1 April 2022
and 31 March 2023 8,721 14,978 23,699
Net book value
At 31 March 2023 - - -
At 31 March 2022 - - -

5. Creditors: amounts falling due within one year
2023 2022
£ £
Taxation and social security 6,551 19,895
Other creditors 2,100 2,500
8,651 22,395

6. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
200 200

Both Ordinary A and B shares rank equally and carry the same rights.

7. Reserves
Retained
earnings
£

At 1 April 2022 301,603
Profit for the year 22,119
Dividends (44,870 )
At 31 March 2023 278,852

8. Ultimate controlling party

The company is controlled by M. Phillips and his spouse by virtue of their 100% ownership of the issued ordinary share capital of the company.