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Company Registration No. 08718906 (England and Wales)
PHIL&TEDS UK LIMITED
Financial Statements
for the Period from 01 January 2023 to 31 December 2023

PHIL&TEDS UK LIMITED

Financial Statements for the period ending 31 December 2023

PHIL&TEDS UK LIMITED

Financial Statements for the period ending 31 December 2023

Notes to the Accounts

1. Statutory Information
PHIL&TEDS UK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08718906.
2. Accounting Policies
Basis of preparing the Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities.
Presentation Currency
The accounts are presented in £ sterling.
Turnover
Turnover is recognised as the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and payment rebates.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

PHIL&TEDS UK LIMITED

Financial Statements for the period ending 31 December 2023

Notes to the Accounts

Tangible Fixed Asset Policy
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.Depreciation is recognised so as to write off the cost of valuation of assets less their residual values over their useful lives on the following bases :Fixtures & Fittings : 13% reducing balanceComputers : 50% reducing balanceThe gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and credited or charged to profit or loss.

PHIL&TEDS UK LIMITED

Financial Statements for the period ending 31 December 2023

Notes to the Accounts

Deferred Tax
Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from the recognition in the financial statement. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of the deferred tax liabilities or other future taxable profits.

PHIL&TEDS UK LIMITED

Financial Statements for the period ending 31 December 2023

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2023 2
2022 3
4. Principal Activity
Retailing baby strollers

PHIL&TEDS UK LIMITED

Financial Statements for the period ending 31 December 2023

Notes to the Accounts

5. Fixed Assets
Fixtures and Fittings Total
Cost or valuation £ £
At 01/01/2023 514 514
Additions - -
At 31/12/2023 514 514
Depreciation
At 01/01/2023 - -
Charge for the year 96 96
At 31/12/2023 96 96
Net Book Value
At 31/12/2023 418 418
At 31/12/2022 514 514