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REGISTERED NUMBER: 03810079 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023

FOR

AVERIL PHILLIPS & FAMILY LIMITED

AVERIL PHILLIPS & FAMILY LIMITED (REGISTERED NUMBER: 03810079)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AVERIL PHILLIPS & FAMILY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: Mr TP Jones
Miss SH Jones
Mrs AD Phillips





SECRETARY: Mr TP Jones





REGISTERED OFFICE: Portland House
13 Station Road
Kettering
Northamptonshire
NN15 7HH





BUSINESS ADDRESS: Northampton House
Station Road
Kettering
Northamptonshire
NN15 7HH





REGISTERED NUMBER: 03810079 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH

AVERIL PHILLIPS & FAMILY LIMITED (REGISTERED NUMBER: 03810079)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 826,559 821,562

CURRENT ASSETS
Debtors 5 1,121,702 1,060,487
Cash at bank and in hand 87,908 23,692
1,209,610 1,084,179
CREDITORS
Amounts falling due within one year 6 440,237 363,350
NET CURRENT ASSETS 769,373 720,829
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,595,932

1,542,391

CREDITORS
Amounts falling due after more than one
year

7

(384,713

)

(462,758

)

PROVISIONS FOR LIABILITIES (89,409 ) (79,945 )
NET ASSETS 1,121,810 999,688

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,121,710 999,588
SHAREHOLDERS' FUNDS 1,121,810 999,688

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

AVERIL PHILLIPS & FAMILY LIMITED (REGISTERED NUMBER: 03810079)

BALANCE SHEET - continued
31ST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th January 2024 and were signed on its behalf by:





Mr TP Jones - Director


AVERIL PHILLIPS & FAMILY LIMITED (REGISTERED NUMBER: 03810079)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023


1. STATUTORY INFORMATION

Averil Phillips & Family 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historic 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

AVERIL PHILLIPS & FAMILY LIMITED (REGISTERED NUMBER: 03810079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
The company is party to only basic financial instruments such as cash, trade debtors and creditors, and bank loans. Instruments such as trade debtors and creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 1,057,491
Additions 100,200
Disposals (81,350 )
At 31st July 2023 1,076,341
DEPRECIATION
At 1st August 2022 235,929
Charge for year 78,946
Eliminated on disposal (65,093 )
At 31st July 2023 249,782
NET BOOK VALUE
At 31st July 2023 826,559
At 31st July 2022 821,562

AVERIL PHILLIPS & FAMILY LIMITED (REGISTERED NUMBER: 03810079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st August 2022 496,102
Additions 89,769
Disposals (27,400 )
At 31st July 2023 558,471
DEPRECIATION
At 1st August 2022 97,055
Charge for year 71,357
Eliminated on disposal (14,299 )
At 31st July 2023 154,113
NET BOOK VALUE
At 31st July 2023 404,358
At 31st July 2022 399,047

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 132,460 73,470
Other debtors 989,242 987,017
1,121,702 1,060,487

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 56,770 54,493
Hire purchase contracts 77,324 46,438
Trade creditors 119,340 56,864
Taxation and social security 173,541 158,804
Other creditors 13,262 46,751
440,237 363,350

AVERIL PHILLIPS & FAMILY LIMITED (REGISTERED NUMBER: 03810079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 75,931 132,701
Hire purchase contracts 308,782 330,057
384,713 462,758

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, TP Jones owed the company £413,048. There are no set terms for repayment and a commercial rate of interest is charged.