IRIS Accounts Production v24.2.0.383 04784246 director 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047842462023-03-31047842462024-03-31047842462023-04-012024-03-31047842462022-03-31047842462022-04-012023-03-31047842462023-03-3104784246ns15:EnglandWales2023-04-012024-03-3104784246ns14:PoundSterling2023-04-012024-03-3104784246ns10:Director12023-04-012024-03-3104784246ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104784246ns10:SmallEntities2023-04-012024-03-3104784246ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3104784246ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104784246ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104784246ns10:FullAccounts2023-04-012024-03-3104784246ns10:OrdinaryShareClass12023-04-012024-03-3104784246ns10:OrdinaryShareClass22023-04-012024-03-3104784246ns10:RegisteredOffice2023-04-012024-03-3104784246ns5:CurrentFinancialInstruments2024-03-3104784246ns5:CurrentFinancialInstruments2023-03-3104784246ns5:ShareCapital2024-03-3104784246ns5:ShareCapital2023-03-3104784246ns5:RetainedEarningsAccumulatedLosses2024-03-3104784246ns5:RetainedEarningsAccumulatedLosses2023-03-3104784246ns5:FurnitureFittings2023-04-012024-03-3104784246ns5:ComputerEquipment2023-04-012024-03-3104784246ns5:PlantMachinery2023-03-3104784246ns5:PlantMachinery2023-04-012024-03-3104784246ns5:PlantMachinery2024-03-3104784246ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104784246ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104784246ns10:OrdinaryShareClass12024-03-3104784246ns10:OrdinaryShareClass22024-03-3104784246ns5:RetainedEarningsAccumulatedLosses2023-03-3104784246ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: 04784246 (England and Wales)















PHILLIPS OSBORNE LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2024






PHILLIPS OSBORNE LIMITED (REGISTERED NUMBER: 04784246)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


PHILLIPS OSBORNE LIMITED

Company Information
for the year ended 31 March 2024







Director: M J Phillips





Registered office: Beech Court
31 Summers Road
Burnham
Buckinghamshire
SL1 7EP





Registered number: 04784246 (England and Wales)





Accountants: Cooper Parry Advisory Limited
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

Accountants' Report to the Director
on the Unaudited Financial Statements of
Phillips Osborne Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Phillips Osborne Limited for the year ended 31 March 2024 which comprise the Profit and Loss, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Phillips Osborne Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Phillips Osborne Limited and state those matters that we have agreed to state to the director of Phillips Osborne Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phillips Osborne Limited and its director for our work or for this report.

It is your duty to ensure that Phillips Osborne Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Phillips Osborne Limited. You consider that Phillips Osborne Limited 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 financial statements of Phillips Osborne Limited. 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 financial statements.






Cooper Parry Advisory Limited
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP


13 August 2024

PHILLIPS OSBORNE LIMITED (REGISTERED NUMBER: 04784246)

Balance Sheet
31 March 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 1,986 -

Current assets
Debtors 5 2,445 -
Cash at bank 234,900 287,703
237,345 287,703
Creditors
Amounts falling due within one year 6 (4,605 ) (8,651 )
Net current assets 232,740 279,052
Total assets less current liabilities 234,726 279,052

Capital and reserves
Called up share capital 7 200 200
Retained earnings 8 234,526 278,852
Shareholders' funds 234,726 279,052

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 August 2024 and were signed by:





M J Phillips - Director


PHILLIPS OSBORNE LIMITED (REGISTERED NUMBER: 04784246)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Phillips Osborne 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 FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The principal accounting policies adopted are set out below.

Turnover
Turnover primarily represents net amounts receivable, including case disbursements, for professional work undertaken under the legal services commission contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction. Financial liabilities classified as payable within one year are not amortised.

Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.


PHILLIPS OSBORNE LIMITED (REGISTERED NUMBER: 04784246)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.

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.

Cash and cash equivalents
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Tangible fixed assets
Plant and
machinery
etc
£
Cost
At 1 April 2023 23,699
Additions 2,964
At 31 March 2024 26,663
Depreciation
At 1 April 2023 23,699
Charge for year 978
At 31 March 2024 24,677
Net book value
At 31 March 2024 1,986

5. Debtors: amounts falling due within one year
2024 2023
£ £
Other debtors 2,445 -

PHILLIPS OSBORNE LIMITED (REGISTERED NUMBER: 04784246)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


6. Creditors: amounts falling due within one year
2024 2023
£ £
Taxation and social security 2,330 6,551
Other creditors 2,275 2,100
4,605 8,651

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
200 200

Both Ordinary A and B shares rank equally and carry the same rights.

8. Reserves
Retained
earnings
£

At 1 April 2023 278,852
Deficit for the year (2,726 )
Dividends (41,600 )
At 31 March 2024 234,526

9. Ultimate controlling party

The company is controlled by M. Phillips and his spouse by virtue of their 100% ownership of the issued ordinary share capital of the company.