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REGISTERED NUMBER: 04383784 (England and Wales)


















DORIAN PHILLIPS & PARTNERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






DORIAN PHILLIPS & PARTNERS LIMITED (REGISTERED NUMBER: 04383784)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


DORIAN PHILLIPS & PARTNERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Mr B D J Phillips





SECRETARY: Mr B D J Phillips





REGISTERED OFFICE: Dolau Gronw
Llanboidy
Whitland
Carmarthenshire
SA34 0EE





REGISTERED NUMBER: 04383784 (England and Wales)





ACCOUNTANTS: Llewelyn Davies
Chartered Accountants
Yelverton House
St John Street
Whitland
Carmarthenshire
SA34 0AW

DORIAN PHILLIPS & PARTNERS LIMITED (REGISTERED NUMBER: 04383784)

ABRIDGED BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,086 48,371

CURRENT ASSETS
Stocks 121,907 143,322
Debtors 240,388 247,132
Cash in hand 385 145
362,680 390,599
CREDITORS
Amounts falling due within one year 252,836 308,989
NET CURRENT ASSETS 109,844 81,610
TOTAL ASSETS LESS CURRENT
LIABILITIES

157,930

129,981

CREDITORS
Amounts falling due after more than
one year

5

(45,199

)

(57,432

)

PROVISIONS FOR LIABILITIES (89 ) (117 )
NET ASSETS 112,642 72,432

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 112,342 72,132
SHAREHOLDERS' FUNDS 112,642 72,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

DORIAN PHILLIPS & PARTNERS LIMITED (REGISTERED NUMBER: 04383784)

ABRIDGED BALANCE SHEET - continued
28 FEBRUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 February 2024 and were signed by:





Mr B D J Phillips - Director


DORIAN PHILLIPS & PARTNERS LIMITED (REGISTERED NUMBER: 04383784)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Dorian Phillips & Partners 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.

The financial statements have been prepared in accordance with Companies Act 2006 as amended, and with applicable Accounting Standards.The director expects continued growth and the company should be able to operate within its overdraft. The director is not aware of any reason why this facility might be withdrawn and as a result the going concern basis of accounting has been adopted.

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.
Plant and machinery etc - 25% on cost and 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

DORIAN PHILLIPS & PARTNERS LIMITED (REGISTERED NUMBER: 04383784)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022 213,464
Additions 25,275
Disposals (25,275 )
At 28 February 2023 213,464
DEPRECIATION
At 1 March 2022 165,093
Charge for year 285
At 28 February 2023 165,378
NET BOOK VALUE
At 28 February 2023 48,086
At 28 February 2022 48,371

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans more 5 yr by instal - 3,651

The bank loan and overdraft are secured.

Obligations under finance leases and hire purchase contracts are secured.

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 63,446 72,242

DORIAN PHILLIPS & PARTNERS LIMITED (REGISTERED NUMBER: 04383784)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Mr B D J Phillips
Balance outstanding at start of year 23,277 30,288
Amounts advanced 11,954 -
Amounts repaid (45,882 ) (7,011 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,651 ) 23,277

The loan to the director was repaid in full on 30 April 2022

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr B D J Phillips by virtue of his shareholding.