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REGISTERED NUMBER: 10055785 (England and Wales)

















PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 126,474 113,552

CURRENT ASSETS
Stocks 60,000 60,000
Debtors 5 148,971 308,624
Cash at bank 342,923 86,464
551,894 455,088
CREDITORS
Amounts falling due within one year 6 460,021 366,943
NET CURRENT ASSETS 91,873 88,145
TOTAL ASSETS LESS CURRENT
LIABILITIES

218,347

201,697

CREDITORS
Amounts falling due after more than one year 7 (68,740 ) (74,558 )

PROVISIONS FOR LIABILITIES (24,030 ) (21,575 )
NET ASSETS 125,577 105,564

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 125,477 105,464
SHAREHOLDERS' FUNDS 125,577 105,564

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.

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 Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:





D K Phillips - Director


PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Phillips Building & Property Maintenance Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10055785

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The director has a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 10% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 225,973
Additions 50,363
Disposals (11,000 )
At 31 March 2023 265,336
DEPRECIATION
At 1 April 2022 112,421
Charge for year 30,566
Eliminated on disposal (4,125 )
At 31 March 2023 138,862
NET BOOK VALUE
At 31 March 2023 126,474
At 31 March 2022 113,552

PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022 202,200
Additions 48,898
Disposals (11,000 )
Transfer to ownership (44,500 )
At 31 March 2023 195,598
DEPRECIATION
At 1 April 2022 103,787
Charge for year 26,881
Eliminated on disposal (4,125 )
Transfer to ownership (37,323 )
At 31 March 2023 89,220
NET BOOK VALUE
At 31 March 2023 106,378
At 31 March 2022 98,413

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 95,116 255,773
Other debtors 53,855 52,851
148,971 308,624

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,970 9,717
Hire purchase contracts (see note 8) 33,447 32,961
Trade creditors 108,710 66,361
Taxation and social security 114,931 128,077
Other creditors 192,963 129,827
460,021 366,943

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 21,701 31,954
Hire purchase contracts (see note 8) 47,039 42,604
68,740 74,558

PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 33,447 32,961
Between one and five years 47,039 42,604
80,486 75,565

Non-cancellable operating leases
2023 2022
£    £   
Within one year 10,419 10,419
Between one and five years 1,736 12,156
12,155 22,575

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 80,486 75,565

10. OTHER FINANCIAL COMMITMENTS

The company operates a workplace pension scheme, whereby both the employee and the company make monthly contributions. Contributions of £212 (2022 - £263) were owed to the fund at the year end.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2022 - £2,000) were paid to the directors .

At the year end, the company owed the directors £146,739 (2022 - £96,989). This unsecured loan is included in creditors. It
is repayable on demand and interest is charged at 0%.

During the year, the company loaned a company under common control and directorship £540. No repayments were made in the year. At the balance sheet date, the company was owed £51,540 (2022 - £51,000).This unsecured loan is included in debtors.