Company Registration No. 10715488 (England and Wales)
Philip Mills Ltd
Unaudited accounts
for the year ended 30 April 2024
Philip Mills Ltd
Unaudited accounts
Contents
Philip Mills Ltd
Company Information
for the year ended 30 April 2024
Company Number
10715488 (England and Wales)
Registered Office
Unit 1, The Park
Spring Lane South
Malvern
WR14 1AT
England
Accountants
Turl & Co Ltd
Unit 1, The Park
Spring Lane South
Malvern
Worcestershire
WR14 1AT
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Philip Mills Ltd for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Philip Mills Ltd for the year ended
30 April 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Philip Mills Ltd, as a body, in accordance with the terms of our engagement letter dated 27 September 2019. Our work has been undertaken solely to prepare for your approval the accounts of Philip Mills Ltd and state those matters that we have agreed to state to the Board of Directors of Philip Mills Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Philip Mills Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Philip Mills Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Philip Mills Ltd. You consider that Philip Mills Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Philip Mills Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Turl & Co Ltd
Chartered Accountants
Unit 1, The Park
Spring Lane South
Malvern
Worcestershire
WR14 1AT
26 July 2024
Philip Mills Ltd
Statement of financial position
as at 30 April 2024
Cash at bank and in hand
15
16,191
Creditors: amounts falling due within one year
(767)
(3,064)
Net current (liabilities)/assets
(752)
14,210
Called up share capital
1
1
Profit and loss account
148
17,628
Shareholders' funds
149
17,629
For the year ending 30 April 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 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 28 July 2024 and were signed on its behalf by
Philip Mills
Director
Company Registration No. 10715488
Philip Mills Ltd
Notes to the Accounts
for the year ended 30 April 2024
Philip Mills Ltd is a private company, limited by shares, registered in England and Wales, registration number 10715488. The registered office is Unit 1, The Park, Spring Lane South, Malvern, WR14 1AT, England.
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.
These financial statements for the year ended 30 April 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 May 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
20% Reducing balance
Motor vehicles
20% Reducing balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 May 2023
2,036
7,000
9,036
Disposals
(137)
(7,000)
(7,137)
At 30 April 2024
2,036
-
2,036
At 1 May 2023
910
4,707
5,617
Charge for the year
225
-
225
On disposals
-
(4,707)
(4,707)
At 30 April 2024
1,135
-
1,135
At 30 April 2024
901
-
901
At 30 April 2023
1,126
2,293
3,419
Philip Mills Ltd
Notes to the Accounts
for the year ended 30 April 2024
Amounts falling due within one year
Accrued income and prepayments
-
615
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
50
Loans from directors
17
763
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).