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Company Registration No. 6514154 (England and Wales)
Phillip James Estates Ltd Unaudited accounts for the year ended 29 February 2024
Phillip James Estates Ltd Unaudited accounts Contents
Page
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Phillip James Estates Ltd Company Information for the year ended 29 February 2024
Director
Mrs L Lainchbury
Company Number
6514154 (England and Wales)
Registered Office
Flat 2 56 Shelley Road Worthing West Sussex BN11 4BX
Accountants
Ian Sykes and Co Limited 1 Windlesham Gardens Shoreham by Sea West Sussex BN43 5AD
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Phillip James Estates Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,566 
647 
Current assets
Debtors
10,368 
10,405 
Cash at bank and in hand
68,878 
83,817 
79,246 
94,222 
Creditors: amounts falling due within one year
(18,522)
(18,459)
Net current assets
60,724 
75,763 
Net assets
62,290 
76,410 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
62,280 
76,400 
Shareholders' funds
62,290 
76,410 
For the year ending 29 February 2024 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 her 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 30 April 2024 and were signed on its behalf by
Mrs L Lainchbury Director Company Registration No. 6514154
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Phillip James Estates Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Phillip James Estates Ltd is a private company, limited by shares, registered in England and Wales, registration number 6514154. The registered office is Flat 2, 56 Shelley Road, Worthing, West Sussex, BN11 4BX.
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.
Revenue
Revenue, described as turnover, is the value of goods provided to customers during the year, plus the value of work performed during the year with respect to services. Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services on the completion of each individual project.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Computer equipment
33% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
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Phillip James Estates Ltd Notes to the Accounts for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
26,931 
At 29 February 2024
26,931 
Amortisation
At 1 March 2023
26,931 
At 29 February 2024
26,931 
Net book value
At 29 February 2024
- 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 March 2023
5,059 
Additions
2,347 
At 29 February 2024
7,406 
Depreciation
At 1 March 2023
4,412 
Charge for the year
1,428 
At 29 February 2024
5,840 
Net book value
At 29 February 2024
1,566 
At 28 February 2023
647 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
10,368 
10,405 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
663 
721 
Taxes and social security
14,367 
15,876 
Other creditors
1,721 
253 
Loans from directors
196 
84 
Accruals
1,575 
1,525 
18,522 
18,459 
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Phillip James Estates Ltd Notes to the Accounts for the year ended 29 February 2024
8
Operating lease commitments
2024 
2023 
£ 
£ 
At 29 February 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
3,617 
4,339 
Later than one year and not later than five years
603 
4,219 
4,220 
8,558 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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