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Company Registration No. 12986941 (England and Wales)
Phillips Technology Solutions Limited Unaudited accounts for the year ended 31 October 2023
Phillips Technology Solutions Limited Unaudited accounts Contents
Page
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Phillips Technology Solutions Limited Company Information for the year ended 31 October 2023
Director
David Phillips
Company Number
12986941 (England and Wales)
Registered Office
18 Worcester Park Bath BA1 6QU England
Accountants
Vision Accounting Fortis House Cothey Way Ryde Isle of Wight PO33 1QT
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Phillips Technology Solutions Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
18,333 
- 
Tangible assets
4,414 
5,927 
22,747 
5,927 
Current assets
Debtors
- 
7,922 
Cash at bank and in hand
5,771 
5,652 
5,771 
13,574 
Creditors: amounts falling due within one year
(17,632)
(7,225)
Net current (liabilities)/assets
(11,861)
6,349 
Net assets
10,886 
12,276 
Capital and reserves
Share premium
100 
100 
Profit and loss account
10,786 
12,176 
Shareholders' funds
10,886 
12,276 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 November 2023 and were signed on its behalf by
David Phillips Director Company Registration No. 12986941
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Phillips Technology Solutions Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Phillips Technology Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 12986941. The registered office is 18 Worcester Park, Bath, BA1 6QU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight Line - 25%
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortised over five years using the straight line method.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 November 2022
- 
Additions
20,000 
At 31 October 2023
20,000 
Amortisation
At 1 November 2022
- 
Charge for the year
1,667 
At 31 October 2023
1,667 
Net book value
At 31 October 2023
18,333 
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Phillips Technology Solutions Limited Notes to the Accounts for the year ended 31 October 2023
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 November 2022
6,053 
At 31 October 2023
6,053 
Depreciation
At 1 November 2022
126 
Charge for the year
1,513 
At 31 October 2023
1,639 
Net book value
At 31 October 2023
4,414 
At 31 October 2022
5,927 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
6,478 
Accrued income and prepayments
- 
1,444 
- 
7,922 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
346 
603 
Taxes and social security
3,526 
5,881 
Loans from directors
13,020 
241 
Accruals
740 
500 
17,632 
7,225 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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