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Company Registration No. 11211012 (England and Wales)
G.Phillips Building Contractors Ltd Unaudited accounts for the year ended 28 February 2023
G.Phillips Building Contractors Ltd Unaudited accounts Contents
Page
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G.Phillips Building Contractors Ltd Company Information for the year ended 28 February 2023
Director
G Phillips
Company Number
11211012 (England and Wales)
Registered Office
31 WORLE AVENUE LLANRUMNEY CARDIFF CF3 4DA WALES
Accountants
STAS Ltd 253 Cowbridge Road West Cardiff CF5 5TD
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G.Phillips Building Contractors Ltd Accountants' report
Accountants' report to the director of G.Phillips Building Contractors Ltd on the preparation of the unaudited statutory accounts for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of G.Phillips Building Contractors Ltd for the year ended 28 February 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of G.Phillips Building Contractors Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of G.Phillips Building Contractors Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G.Phillips Building Contractors Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that G.Phillips Building Contractors Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of G.Phillips Building Contractors Ltd. You consider that G.Phillips Building Contractors Ltd 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 G.Phillips Building Contractors Ltd. 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.
STAS Ltd 253 Cowbridge Road West Cardiff CF5 5TD 26 November 2023
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G.Phillips Building Contractors Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,680 
12,223 
Current assets
Inventories
5,000 
5,000 
Debtors
15,543 
12,089 
Cash at bank and in hand
19,444 
31,512 
39,987 
48,601 
Creditors: amounts falling due within one year
(38,972)
(50,812)
Net current assets/(liabilities)
1,015 
(2,211)
Total assets less current liabilities
6,695 
10,012 
Creditors: amounts falling due after more than one year
(6,200)
(9,300)
Net assets
495 
712 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
395 
612 
Shareholders' funds
495 
712 
For the year ending 28 February 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 26 November 2023 and were signed on its behalf by
G Phillips Director Company Registration No. 11211012
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G.Phillips Building Contractors Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
G.Phillips Building Contractors Ltd is a private company, limited by shares, registered in England and Wales, registration number 11211012. The registered office is 31 WORLE AVENUE, LLANRUMNEY, CARDIFF, CF3 4DA, WALES.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the provision of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Motor vehicles
3 years
Computer equipment
3 years
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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G.Phillips Building Contractors Ltd Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2022
258 
31,495 
791 
32,544 
At 28 February 2023
258 
31,495 
791 
32,544 
Depreciation
At 1 March 2022
43 
19,971 
307 
20,321 
Charge for the year
86 
6,193 
264 
6,543 
At 28 February 2023
129 
26,164 
571 
26,864 
Net book value
At 28 February 2023
129 
5,331 
220 
5,680 
At 28 February 2022
215 
11,524 
484 
12,223 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,039 
Other debtors
15,543 
11,050 
15,543 
12,089 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
3,519 
VAT
1,711 
- 
Obligations under finance leases and hire purchase contracts
3,100 
5,832 
Trade creditors
14,163 
32,351 
Taxes and social security
18,642 
8,610 
Other creditors
856 
- 
Accruals
500 
500 
38,972 
50,812 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
6,200 
9,300 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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