Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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3,036 | 0 | |||
Current assets | ||||
Cash at bank and in hand |
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62,986 | 31,404 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current assets/(liabilities) | 18,900 | (6,907) | ||
Total assets less current liabilities | 21,936 | (6,907) | ||
Provision for liabilities | 5 | (
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Net assets/(liabilities) |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholders' funds/(deficit) |
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Directors' responsibilities:
The financial statements of Phipps Leisure Ltd (registered number:
Robert John William Phipps
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Phipps Leisure Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Fairway Pottery Road, Bovey Tracey, Newton Abbot, TQ13 9DS, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Plant and machinery |
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The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Total | ||
£ | £ | ||
Cost | |||
At 01 September 2022 |
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Additions |
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At 31 August 2023 |
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Accumulated depreciation | |||
At 01 September 2022 |
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Charge for the financial year |
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At 31 August 2023 |
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Net book value | |||
At 31 August 2023 |
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At 31 August 2022 |
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2023 | 2022 | ||
£ | £ | ||
Amounts owed to directors |
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Accruals |
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Taxation and social security |
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2023 | 2022 | ||
£ | £ | ||
At the beginning of financial year |
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Charged to the Statement of Income and Retained Earnings | (
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At the end of financial year | (
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
2023 | 2022 | ||
£ | £ | ||
Amounts owed to directors by the Company | 37,568 | 37,352 |
There is no interest charged and there are no fixed repayment terms.