Company registration number:
05180057
Philpotts (Leicester) Ltd
Unaudited filleted financial statements
31 December 2023
Coulter & Co. (Accountants) Ltd
Chartered Certified Accountants
Philpotts (Leicester) Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Philpotts (Leicester) Ltd
Directors and other information
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Directors |
Mr J Warke |
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Mrs M Warke |
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Mr J N Warke |
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Company number |
05180057 |
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Registered office |
Pera Business Park |
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Nottingham Road |
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Melton Mowbray |
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LE13 0PB |
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Accountants |
Coulter & Co (Accountants) Ltd |
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Pera Business Park |
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M03 Tower Building |
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Nottingham Road |
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Melton Mowbray |
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LE13 0PB |
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Philpotts (Leicester) Ltd
Statement of financial position
31 December 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Intangible assets |
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5 |
- |
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- |
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Tangible assets |
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6 |
8,052 |
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5,803 |
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_______ |
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_______ |
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8,052 |
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5,803 |
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Current assets |
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Debtors |
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7 |
156,936 |
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598,881 |
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Cash at bank and in hand |
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173,976 |
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91,509 |
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_______ |
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_______ |
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330,912 |
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690,390 |
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Creditors: amounts falling due |
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within one year |
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8 |
(
182,815) |
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(
463,466) |
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_______ |
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_______ |
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Net current assets |
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148,097 |
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226,924 |
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_______ |
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_______ |
Total assets less current liabilities |
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156,149 |
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232,727 |
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Creditors: amounts falling due |
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after more than one year |
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9 |
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(
30,176) |
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(
37,920) |
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Provisions for liabilities |
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(
1,464) |
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(
780) |
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_______ |
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_______ |
Net assets |
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124,509 |
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194,027 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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100 |
Profit and loss account |
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124,409 |
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193,927 |
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_______ |
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_______ |
Shareholders funds |
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124,509 |
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194,027 |
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_______ |
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_______ |
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
22 February 2024
, and are signed on behalf of the board by:
Mr J Warke
Director
Company registration number:
05180057
Philpotts (Leicester) Ltd
Notes to the financial statements
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Pera Business Park, Nottingham Road, Melton Mowbray, LE13 0PB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
15
%
Reducing balance
Fittings fixtures and equipment
15
%
Reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
3
(2022:
3
).
5.
Intangible assets
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Goodwill |
Total |
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£ |
£ |
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Cost |
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At 1 January 2023 and 31 December 2023 |
300,000 |
300,000 |
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_______ |
_______ |
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Amortisation |
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At 1 January 2023 and 31 December 2023 |
300,000 |
300,000 |
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_______ |
_______ |
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Carrying amount |
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At 31 December 2023 |
- |
- |
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_______ |
_______ |
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At 31 December 2022 |
- |
- |
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_______ |
_______ |
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6.
Tangible assets
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Plant and machinery |
Fixtures, fittings and equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 January 2023 |
12,654 |
13,235 |
25,889 |
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Additions |
- |
3,670 |
3,670 |
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_______ |
_______ |
_______ |
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At 31 December 2023 |
12,654 |
16,905 |
29,559 |
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_______ |
_______ |
_______ |
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Depreciation |
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At 1 January 2023 |
12,014 |
8,071 |
20,085 |
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Charge for the year |
96 |
1,326 |
1,422 |
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_______ |
_______ |
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At 31 December 2023 |
12,110 |
9,397 |
21,507 |
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_______ |
_______ |
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Carrying amount |
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At 31 December 2023 |
544 |
7,508 |
8,052 |
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_______ |
_______ |
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At 31 December 2022 |
640 |
5,164 |
5,804
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_______ |
_______ |
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7.
Debtors
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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156,225 |
595,042 |
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Other debtors |
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711 |
3,839 |
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_______ |
_______ |
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156,936 |
598,881 |
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_______ |
_______ |
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8.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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7,744 |
7,120 |
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Trade creditors |
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125,736 |
377,339 |
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Corporation tax |
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31,500 |
48,900 |
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Social security and other taxes |
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10,192 |
27,036 |
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Other creditors |
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7,643 |
3,071 |
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_______ |
_______ |
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182,815 |
463,466 |
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_______ |
_______ |
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9.
Creditors: amounts falling due after more than one year
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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30,176 |
37,920 |
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_______ |
_______ |
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10.
Ultimate controlling party
The company's immediate and ultimate controlling parent company is Warke Estate Holding Company Limited, a company incorporated in England and Wales, and holding 100% of the issued ordinary shares in this company. The registered office of Warke Estate Holding Company Limited is Pera Business Park, Nottingham Road, Melton Mowbray, LE13 0PB.