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
Phillip James Estates Ltd
Company Information
for the year ended 29 February 2024
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
Phillip James Estates Ltd
Statement of financial position
as at 29 February 2024
Cash at bank and in hand
68,878
83,817
Creditors: amounts falling due within one year
(18,522)
(18,459)
Net current assets
60,724
75,763
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
Phillip James Estates Ltd
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
The accounts have been prepared under the historical cost convention.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Phillip James Estates Ltd
Notes to the Accounts
for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill
At 29 February 2024
26,931
At 29 February 2024
26,931
5
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
10,368
10,405
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
14,367
15,876
Loans from directors
196
84
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
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).