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REGISTERED NUMBER: 01922552 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

PHIPPS (GROUP) LIMITED

PHIPPS (GROUP) LIMITED (REGISTERED NUMBER: 01922552)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PHIPPS (GROUP) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: R D Phipps
J E Phipps





SECRETARY: J E Phipps





REGISTERED OFFICE: Unit 3 Quadrant Centre
Quedgeley
Hardwicke
Gloucester
Gloucestershire
GL2 2RN





REGISTERED NUMBER: 01922552 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
4th Floor
St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR

PHIPPS (GROUP) LIMITED (REGISTERED NUMBER: 01922552)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 184,332 188,233

CURRENT ASSETS
Debtors 5 50,031 89,031
Cash at bank 17,729 35,442
67,760 124,473
CREDITORS
Amounts falling due within one year 6 206,658 210,486
NET CURRENT LIABILITIES (138,898 ) (86,013 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,434

102,220

CREDITORS
Amounts falling due after more than one
year

7

24,102

49,899
NET ASSETS 21,332 52,321

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,232 52,221
SHAREHOLDERS' FUNDS 21,332 52,321

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





R D Phipps - Director


PHIPPS (GROUP) LIMITED (REGISTERED NUMBER: 01922552)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Phipps (Group) 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 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Office equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

PHIPPS (GROUP) LIMITED (REGISTERED NUMBER: 01922552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 July 2022 195,064 2,362 8,895
Disposals - - -
At 30 June 2023 195,064 2,362 8,895
DEPRECIATION
At 1 July 2022 6,831 2,362 8,895
Charge for year 3,901 - -
Eliminated on disposal - - -
At 30 June 2023 10,732 2,362 8,895
NET BOOK VALUE
At 30 June 2023 184,332 - -
At 30 June 2022 188,233 - -

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 15,478 1,685 223,484
Disposals (15,478 ) - (15,478 )
At 30 June 2023 - 1,685 208,006
DEPRECIATION
At 1 July 2022 15,478 1,685 35,251
Charge for year - - 3,901
Eliminated on disposal (15,478 ) - (15,478 )
At 30 June 2023 - 1,685 23,674
NET BOOK VALUE
At 30 June 2023 - - 184,332
At 30 June 2022 - - 188,233

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 50,031 89,031

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,375 12,192
Other creditors 199,283 198,294
206,658 210,486

PHIPPS (GROUP) LIMITED (REGISTERED NUMBER: 01922552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 24,102 49,899

8. RELATED PARTY DISCLOSURES

Included within creditors: amounts falling due within one year, is a director's loan account in the sum of £198,283 (2022: £197,294) provided by R Phipps. The amount is unsecured, interest free and carries no fixed date of repayment.

Included within debtors: amounts falling due within one year is a loan in the sum of £50,031 (2022: £89,031) which has been provided to ARC Recovery Limited, a company R Phipps has an interest in. The account is unsecured, interest free and carries no fixed date of repayment.