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REGISTERED NUMBER: 04849014 (England and Wales)















PHILLIPS & STUBBS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PHILLIPS & STUBBS LIMITED (REGISTERED NUMBER: 04849014)






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


PHILLIPS & STUBBS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTOR: M R Stubbs





SECRETARY: Mrs P Y Stubbs





REGISTERED OFFICE: 47 Cinque Ports Street
Rye
East Sussex
TN31 7AN





REGISTERED NUMBER: 04849014 (England and Wales)





ACCOUNTANTS: Busbys
Chartered Accountants
Unit 7
Pickhill Business Centre
Smallhythe Road
Tenterden
Kent
TN30 7LZ

PHILLIPS & STUBBS LIMITED (REGISTERED NUMBER: 04849014)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 17,353 10,827
17,353 10,827

CURRENT ASSETS
Debtors 6 391,663 384,276
Cash at bank and in hand 488,887 579,272
880,550 963,548
CREDITORS
Amounts falling due within one year 7 107,639 151,854
NET CURRENT ASSETS 772,911 811,694
TOTAL ASSETS LESS CURRENT
LIABILITIES

790,264

822,521

PROVISIONS FOR LIABILITIES 4,133 2,456
NET ASSETS 786,131 820,065

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 786,130 820,064
SHAREHOLDERS' FUNDS 786,131 820,065

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.

PHILLIPS & STUBBS LIMITED (REGISTERED NUMBER: 04849014)

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 12 August 2024 and were signed by:





M R Stubbs - Director


PHILLIPS & STUBBS LIMITED (REGISTERED NUMBER: 04849014)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Phillips & Stubbs 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 represents net invoiced sales of services provided, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, was being amortised evenly over its estimated useful life of twenty years. In anticipation of new accounting rules, the balance of goodwill at 1 January 2013 was being amortised evenly over 3 years and was fully amortised by 31 December 2015.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 20% on reducing balance
Computer equipment - 33% on cost

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.

PHILLIPS & STUBBS LIMITED (REGISTERED NUMBER: 04849014)

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 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 112,000
AMORTISATION
At 1 January 2023
and 31 December 2023 112,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Office Computer
equipment equipment Totals
£    £    £   
COST
At 1 January 2023 46,781 19,428 66,209
Additions 8,926 2,973 11,899
At 31 December 2023 55,707 22,401 78,108
DEPRECIATION
At 1 January 2023 36,885 18,497 55,382
Charge for year 3,789 1,584 5,373
At 31 December 2023 40,674 20,081 60,755
NET BOOK VALUE
At 31 December 2023 15,033 2,320 17,353
At 31 December 2022 9,896 931 10,827

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 29,667 39,818
Other debtors 361,996 344,458
391,663 384,276

PHILLIPS & STUBBS LIMITED (REGISTERED NUMBER: 04849014)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 24,624 23,205
Taxation and social security 63,355 108,006
Other creditors 19,660 20,643
107,639 151,854

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 15,999 23,291
Between one and five years 13,183 40,882
29,182 64,173

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

10. RELATED PARTY DISCLOSURES

During the period, the company made a loan to the director amounting to £257,587 (2022 : £245,656). Interest at the rate of 2.25% per annum is payable.