PHILLIPS & PAINTER LIMITED

Company Registration Number:
05466022 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 June 2022

End date: 30 June 2023

PHILLIPS & PAINTER LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

PHILLIPS & PAINTER LIMITED

Balance sheet

As at 30 June 2023


Notes

13 months to 30 June 2023

2022


£

£
Fixed assets
Tangible assets: 3 4 3,052
Total fixed assets: 4 3,052
Current assets
Stocks: 0 6,500
Debtors:   2,863 1,495
Cash at bank and in hand: 9,454 77,308
Total current assets: 12,317 85,303
Creditors: amounts falling due within one year:   (7,200) (21,971)
Net current assets (liabilities): 5,117 63,332
Total assets less current liabilities: 5,121 66,384
Provision for liabilities: 0 (536)
Total net assets (liabilities): 5,121 65,848
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 5,021 65,748
Shareholders funds: 5,121 65,848

The notes form part of these financial statements

PHILLIPS & PAINTER LIMITED

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 07 March 2024
and signed on behalf of the board by:

Name: G J Painter
Status: Director

The notes form part of these financial statements

PHILLIPS & PAINTER LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:Plant and Equipment - 25% reducing balance basisMotor Vehicles - 25% reducing balance basis

Valuation and information policy

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Other accounting policies

Taxation:Taxation represents the sum of tax currently payable and deferred tax. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.Debtors and Creditors Receivable/Payable Within One Year:Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

PHILLIPS & PAINTER LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

13 months to 30 June 2023 2022
Average number of employees during the period 5 5

PHILLIPS & PAINTER LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible Assets

Total
Cost £
At 01 June 2022 24,413
At 30 June 2023 24,413
Depreciation
At 01 June 2022 21,361
Charge for year 754
Other adjustments 2,294
At 30 June 2023 24,409
Net book value
At 30 June 2023 4
At 31 May 2022 3,052