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REGISTERED NUMBER: 05421531 (England and Wales)


































Unaudited Financial Statements

for the Year Ended 31 December 2023

for

PHILLIP HOLDEN (RURAL) LIMITED

PHILLIP HOLDEN (RURAL) LIMITED (REGISTERED NUMBER: 05421531)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHILLIP HOLDEN (RURAL) LIMITED

Company Information
for the year ended 31 December 2023







DIRECTOR: A Holden





REGISTERED OFFICE: Phillip Holdens Property
Harmire Enterprise Park
Barnard Castle
Co. Durham
DL12 8XT





REGISTERED NUMBER: 05421531 (England and Wales)





ACCOUNTANTS: Mitchells Grievson
Chartered Accountants
Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX

PHILLIP HOLDEN (RURAL) LIMITED (REGISTERED NUMBER: 05421531)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 233,537 236,622

CURRENT ASSETS
Stocks 275,733 274,457
Debtors 5 174,871 150,545
Cash at bank and in hand 3,613 6,503
454,217 431,505
CREDITORS
Amounts falling due within one year 6 383,846 321,499
NET CURRENT ASSETS 70,371 110,006
TOTAL ASSETS LESS CURRENT
LIABILITIES

303,908

346,628

CREDITORS
Amounts falling due after more than one
year

7

(294,522

)

(322,818

)

PROVISIONS FOR LIABILITIES (893 ) -
NET ASSETS 8,493 23,810

CAPITAL AND RESERVES
Called up share capital 36 36
Retained earnings 8,457 23,774
8,493 23,810

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PHILLIP HOLDEN (RURAL) LIMITED (REGISTERED NUMBER: 05421531)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 May 2024 and were signed by:





A Holden - Director


PHILLIP HOLDEN (RURAL) LIMITED (REGISTERED NUMBER: 05421531)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Phillip Holden (Rural) 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical 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.
Freehold property - 125 years
Long leasehold - 125 years
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Hire purchase and leasing commitments
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.

PHILLIP HOLDEN (RURAL) LIMITED (REGISTERED NUMBER: 05421531)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 January 2023 223,122 38,000 3,795
Additions - - -
At 31 December 2023 223,122 38,000 3,795
DEPRECIATION
At 1 January 2023 28,525 4,686 2,215
Charge for year 1,785 304 759
At 31 December 2023 30,310 4,990 2,974
NET BOOK VALUE
At 31 December 2023 192,812 33,010 821
At 31 December 2022 194,597 33,314 1,580

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 44,951 26,425 336,293
Additions 2,688 - 2,688
At 31 December 2023 47,639 26,425 338,981
DEPRECIATION
At 1 January 2023 40,405 23,840 99,671
Charge for year 2,012 913 5,773
At 31 December 2023 42,417 24,753 105,444
NET BOOK VALUE
At 31 December 2023 5,222 1,672 233,537
At 31 December 2022 4,546 2,585 236,622

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 139,734 131,845
Other debtors 35,137 18,700
174,871 150,545

PHILLIP HOLDEN (RURAL) LIMITED (REGISTERED NUMBER: 05421531)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 102,949 81,791
Trade creditors 267,507 225,587
Taxation and social security 649 6,401
Other creditors 12,741 7,720
383,846 321,499

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 33,333 98,529
Other creditors 261,189 224,289
294,522 322,818

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 67,506 39,706

The bank overdraft is secured by a fixed and floating charge over the assets of the company.