M Phillips Consultants Ltd 06264478 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is information technology consultancy activities. Digita Accounts Production Advanced 6.30.9574.0 true 06264478 2022-06-01 2023-05-31 06264478 2023-05-31 06264478 bus:OrdinaryShareClass1 2023-05-31 06264478 core:CurrentFinancialInstruments 2023-05-31 06264478 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 06264478 core:FurnitureFittings 2023-05-31 06264478 core:OtherPropertyPlantEquipment 2023-05-31 06264478 bus:SmallEntities 2022-06-01 2023-05-31 06264478 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 06264478 bus:FullAccounts 2022-06-01 2023-05-31 06264478 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 06264478 bus:RegisteredOffice 2022-06-01 2023-05-31 06264478 bus:Director1 2022-06-01 2023-05-31 06264478 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 06264478 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 06264478 bus:Agent1 2022-06-01 2023-05-31 06264478 core:FurnitureFittings 2022-06-01 2023-05-31 06264478 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 06264478 core:PlantMachinery 2022-06-01 2023-05-31 06264478 countries:England 2022-06-01 2023-05-31 06264478 2022-05-31 06264478 core:FurnitureFittings 2022-05-31 06264478 core:OtherPropertyPlantEquipment 2022-05-31 06264478 2021-06-01 2022-05-31 06264478 2022-05-31 06264478 bus:OrdinaryShareClass1 2022-05-31 06264478 core:CurrentFinancialInstruments 2022-05-31 06264478 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 06264478 core:FurnitureFittings 2022-05-31 06264478 core:OtherPropertyPlantEquipment 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06264478

M Phillips Consultants Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

M Phillips Consultants Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

M Phillips Consultants Ltd

Company Information

Director

Mr Mark Phillips

Registered office

Thremhall Park
Start Hill
Bishop's Stortford
Herts
CM22 7WE

Accountants

MG Contractor Services Ltd
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
M Phillips Consultants Ltd
for the Year Ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of M Phillips Consultants Ltd for the year ended 31 May 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of M Phillips Consultants Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of M Phillips Consultants Ltd and state those matters that we have agreed to state to the Board of Directors of M Phillips Consultants Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M Phillips Consultants Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that M Phillips Consultants 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 M Phillips Consultants Ltd. You consider that M Phillips Consultants 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 M Phillips Consultants 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.

......................................

MG Contractor Services Ltd
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

20 February 2024

 

M Phillips Consultants Ltd

(Registration number: 06264478)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

561

753

Current assets

 

Debtors

5

6,480

7,200

Cash at bank and in hand

 

9,498

11,001

 

15,978

18,201

Creditors: Amounts falling due within one year

6

(8,726)

(8,527)

Net current assets

 

7,252

9,674

Net assets

 

7,813

10,427

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

7,812

10,426

Shareholders' funds

 

7,813

10,427

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 February 2024
 

.........................................
Mr Mark Phillips
Director

 

M Phillips Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Thremhall Park
Start Hill
Bishop's Stortford
Herts
CM22 7WE

These financial statements were authorised for issue by the director on 20 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

M Phillips Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

M Phillips Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

M Phillips Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Fixtures and fittings
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 June 2022

3,574

769

4,343

At 31 May 2023

3,574

769

4,343

Depreciation

At 1 June 2022

3,574

16

3,590

Charge for the year

-

192

192

At 31 May 2023

3,574

208

3,782

Carrying amount

At 31 May 2023

-

561

561

At 31 May 2022

-

753

753

5

Debtors

Current

2023
£

2022
£

Trade debtors

6,480

7,200

 

6,480

7,200

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

8,706

8,434

Other creditors

20

93

8,726

8,527

 

M Phillips Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

7

Related party transactions

During the year, the company made the following related party transactions:

Director
During the year, the Director received further loans of £62,800 and repaid £62,873. At the balance sheet date, the amount due to the Director was £20 (2022 - £93).
 

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1