3 31/12/2023 2023-12-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05180057 2023-01-01 2023-12-31 05180057 2023-12-31 05180057 2022-12-31 05180057 2022-01-01 2022-12-31 05180057 2022-12-31 05180057 2021-12-31 05180057 bus:RegisteredOffice 2023-01-01 2023-12-31 05180057 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 05180057 bus:Director1 2023-01-01 2023-12-31 05180057 bus:Director2 2023-01-01 2023-12-31 05180057 bus:Director3 2023-01-01 2023-12-31 05180057 core:NetGoodwill 2023-12-31 05180057 core:PlantMachinery 2022-12-31 05180057 core:FurnitureFittingsToolsEquipment 2022-12-31 05180057 core:PlantMachinery 2023-12-31 05180057 core:FurnitureFittingsToolsEquipment 2023-12-31 05180057 core:WithinOneYear 2023-12-31 05180057 core:WithinOneYear 2022-12-31 05180057 core:AfterOneYear 2023-12-31 05180057 core:AfterOneYear 2022-12-31 05180057 core:ShareCapital 2023-12-31 05180057 core:ShareCapital 2022-12-31 05180057 core:RetainedEarningsAccumulatedLosses 2023-12-31 05180057 core:RetainedEarningsAccumulatedLosses 2022-12-31 05180057 core:PlantMachinery 2023-01-01 2023-12-31 05180057 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 05180057 core:NetGoodwill 2022-12-31 05180057 core:PlantMachinery 2022-12-31 05180057 core:FurnitureFittingsToolsEquipment 2022-12-31 05180057 bus:SmallEntities 2023-01-01 2023-12-31 05180057 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05180057 bus:FullAccounts 2023-01-01 2023-12-31 05180057 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05180057 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
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
Directors Mr J Warke
Mrs M Warke
Mr J N Warke
Company number 05180057
Registered office Pera Business Park
Nottingham Road
Melton Mowbray
LE13 0PB
Accountants Coulter & Co (Accountants) Ltd
Pera Business Park
M03 Tower Building
Nottingham Road
Melton Mowbray
LE13 0PB
Philpotts (Leicester) Ltd
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 8,052 5,803
_______ _______
8,052 5,803
Current assets
Debtors 7 156,936 598,881
Cash at bank and in hand 173,976 91,509
_______ _______
330,912 690,390
Creditors: amounts falling due
within one year 8 ( 182,815) ( 463,466)
_______ _______
Net current assets 148,097 226,924
_______ _______
Total assets less current liabilities 156,149 232,727
Creditors: amounts falling due
after more than one year 9 ( 30,176) ( 37,920)
Provisions for liabilities ( 1,464) ( 780)
_______ _______
Net assets 124,509 194,027
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 124,409 193,927
_______ _______
Shareholders funds 124,509 194,027
_______ _______
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:
- 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;
- 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
Goodwill Total
£ £
Cost
At 1 January 2023 and 31 December 2023 300,000 300,000
_______ _______
Amortisation
At 1 January 2023 and 31 December 2023 300,000 300,000
_______ _______
Carrying amount
At 31 December 2023 - -
_______ _______
At 31 December 2022 - -
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2023 12,654 13,235 25,889
Additions - 3,670 3,670
_______ _______ _______
At 31 December 2023 12,654 16,905 29,559
_______ _______ _______
Depreciation
At 1 January 2023 12,014 8,071 20,085
Charge for the year 96 1,326 1,422
_______ _______ _______
At 31 December 2023 12,110 9,397 21,507
_______ _______ _______
Carrying amount
At 31 December 2023 544 7,508 8,052
_______ _______ _______
At 31 December 2022 640 5,164 5,804
_______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 156,225 595,042
Other debtors 711 3,839
_______ _______
156,936 598,881
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 7,744 7,120
Trade creditors 125,736 377,339
Corporation tax 31,500 48,900
Social security and other taxes 10,192 27,036
Other creditors 7,643 3,071
_______ _______
182,815 463,466
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 30,176 37,920
_______ _______
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.