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REGISTERED NUMBER: 04019603 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

RICHARD PHILLIPS LIMITED

RICHARD PHILLIPS LIMITED (REGISTERED NUMBER: 04019603)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RICHARD PHILLIPS LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTORS: R C Phillips
Mrs R F Phillips





SECRETARY: Mrs R F Phillips





REGISTERED OFFICE: 31 Museum Street
London
WC1A 1LH





REGISTERED NUMBER: 04019603 (England and Wales)





ACCOUNTANTS: COLIN GRAY & CO LIMITED
Chartered Accountants
Hardy House
Northbridge Road
Berkhamsted
Hertfordshire
HP4 1EF

RICHARD PHILLIPS LIMITED (REGISTERED NUMBER: 04019603)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,593,126 1,595,259

CURRENT ASSETS
Debtors 5 51,243 189,913
Cash at bank and in hand 424,170 537,654
475,413 727,567
CREDITORS
Amounts falling due within one year 6 81,960 122,206
NET CURRENT ASSETS 393,453 605,361
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,986,579

2,200,620

CREDITORS
Amounts falling due after more than one
year

7

(166,650

)

(202,436

)

PROVISIONS FOR LIABILITIES (6,949 ) (6,148 )
NET ASSETS 1,812,980 1,992,036

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,811,980 1,991,036
SHAREHOLDERS' FUNDS 1,812,980 1,992,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RICHARD PHILLIPS LIMITED (REGISTERED NUMBER: 04019603)

BALANCE SHEET - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 December 2023 and were signed on its behalf by:





Mrs R F Phillips - Director


RICHARD PHILLIPS LIMITED (REGISTERED NUMBER: 04019603)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Richard Phillips Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on reducing balance and Not depreciated
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

RICHARD PHILLIPS LIMITED (REGISTERED NUMBER: 04019603)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 1,598,114 183,105 1,781,219
Additions - 9,501 9,501
Disposals - (13,500 ) (13,500 )
At 31 July 2023 1,598,114 179,106 1,777,220
DEPRECIATION
At 1 August 2022 37,021 148,939 185,960
Charge for year 3,311 6,520 9,831
Eliminated on disposal - (11,697 ) (11,697 )
At 31 July 2023 40,332 143,762 184,094
NET BOOK VALUE
At 31 July 2023 1,557,782 35,344 1,593,126
At 31 July 2022 1,561,093 34,166 1,595,259

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 30,089 97,774
Amounts owed by associates 15,000 90,000
Other debtors 6,154 2,139
51,243 189,913

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 36,521 35,639
Trade creditors 400 2
Taxation and social security 24,872 60,575
Other creditors 20,167 25,990
81,960 122,206

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 166,650 202,436

RICHARD PHILLIPS LIMITED (REGISTERED NUMBER: 04019603)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 203,171 238,075

Bank loans are secured by way of charges dated 17/10/2008, 10/08/2011 and 23/04/2018 on the company's leasehold property.