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Company Registration No. NI603839 (Northern Ireland)
Phillips Heating & Stoves Limited Unaudited accounts for the year ended 31 July 2023
Phillips Heating & Stoves Limited Unaudited accounts Contents
Page
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Phillips Heating & Stoves Limited Company Information for the year ended 31 July 2023
Director
Maurice Robert Phillips
Secretary
Mr Maurice Phillips
Company Number
NI603839 (Northern Ireland)
Registered Office
140 Ballymena Road Cullybackey Ballymena Co Antrim BT43 5QS Northern Ireland
Accountants
TAG Accountants (N.I.) Ltd 81a Galgorm Road Ballymena Co Antrim BT42 1AA
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Phillips Heating & Stoves Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
224,073 
106,253 
Current assets
Inventories
225,000 
210,000 
Debtors
545 
545 
Cash at bank and in hand
45,280 
60,192 
270,825 
270,737 
Creditors: amounts falling due within one year
(294,058)
(203,037)
Net current (liabilities)/assets
(23,233)
67,700 
Total assets less current liabilities
200,840 
173,953 
Provisions for liabilities
Deferred tax
(4,135)
(4,549)
Net assets
196,705 
169,404 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
196,703 
169,402 
Shareholders' funds
196,705 
169,404 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 April 2024 and were signed on its behalf by
Maurice Robert Phillips Director Company Registration No. NI603839
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Phillips Heating & Stoves Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Phillips Heating & Stoves Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI603839. The registered office is 140 Ballymena Road, Cullybackey, Ballymena, Co Antrim, BT43 5QS, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 August 2022
82,314 
56,569 
14,871 
1,456 
155,210 
Additions
120,000 
3,260 
- 
- 
123,260 
At 31 July 2023
202,314 
59,829 
14,871 
1,456 
278,470 
Depreciation
At 1 August 2022
- 
33,623 
13,878 
1,456 
48,957 
Charge for the year
- 
5,241 
199 
- 
5,440 
At 31 July 2023
- 
38,864 
14,077 
1,456 
54,397 
Net book value
At 31 July 2023
202,314 
20,965 
794 
- 
224,073 
At 31 July 2022
82,314 
22,946 
993 
- 
106,253 
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Phillips Heating & Stoves Limited Notes to the Accounts for the year ended 31 July 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
545 
545 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
147,192 
40,000 
VAT
33,503 
15,825 
Obligations under finance leases and hire purchase contracts
12,779 
18,694 
Trade creditors
18,093 
33,238 
Taxes and social security
14,450 
14,161 
Loans from directors
65,541 
78,619 
Accruals
2,500 
2,500 
294,058 
203,037 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
8
Average number of employees
During the year the average number of employees was 9 (2022: 10).
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