Company Registration No. NI603839 (Northern Ireland)
Phillips Heating & Stoves Limited
Unaudited accounts
for the year ended 31 July 2023
Phillips Heating & Stoves Limited
Unaudited accounts
Contents
Phillips Heating & Stoves Limited
Company Information
for the year ended 31 July 2023
Director
Maurice Robert Phillips
Secretary
Mr Maurice Phillips
Company Number
NI603839 (Northern Ireland)
Registered Office
140 Ballymena Road
Cullybackey
Ballymena
Co Antrim
BT43 5QS
Northern Ireland
Accountants
TAG Accountants (N.I.) Ltd
81a Galgorm Road
Ballymena
Co Antrim
BT42 1AA
Phillips Heating & Stoves Limited
Statement of financial position
as at 31 July 2023
Tangible assets
224,073
106,253
Inventories
225,000
210,000
Cash at bank and in hand
45,280
60,192
Creditors: amounts falling due within one year
(294,058)
(203,037)
Net current (liabilities)/assets
(23,233)
67,700
Total assets less current liabilities
200,840
173,953
Provisions for liabilities
Deferred tax
(4,135)
(4,549)
Net assets
196,705
169,404
Called up share capital
2
2
Profit and loss account
196,703
169,402
Shareholders' funds
196,705
169,404
For the year ending 31 July 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 April 2024 and were signed on its behalf by
Maurice Robert Phillips
Director
Company Registration No. NI603839
Phillips Heating & Stoves Limited
Notes to the Accounts
for the year ended 31 July 2023
Phillips Heating & Stoves Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI603839. The registered office is 140 Ballymena Road, Cullybackey, Ballymena, Co Antrim, BT43 5QS, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 August 2022
82,314
56,569
14,871
1,456
155,210
Additions
120,000
3,260
-
-
123,260
At 31 July 2023
202,314
59,829
14,871
1,456
278,470
At 1 August 2022
-
33,623
13,878
1,456
48,957
Charge for the year
-
5,241
199
-
5,440
At 31 July 2023
-
38,864
14,077
1,456
54,397
At 31 July 2023
202,314
20,965
794
-
224,073
At 31 July 2022
82,314
22,946
993
-
106,253
Phillips Heating & Stoves Limited
Notes to the Accounts
for the year ended 31 July 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
147,192
40,000
Obligations under finance leases and hire purchase contracts
12,779
18,694
Trade creditors
18,093
33,238
Taxes and social security
14,450
14,161
Loans from directors
65,541
78,619
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
8
Average number of employees
During the year the average number of employees was 9 (2022: 10).