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REGISTERED NUMBER: 07842210 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

PHIL SOLOMONS LTD

PHIL SOLOMONS LTD (REGISTERED NUMBER: 07842210)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHIL SOLOMONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: P Solomons





REGISTERED OFFICE: Clematis
Effingham Road
Horley
Surrey
RH6 9RP





REGISTERED NUMBER: 07842210 (England and Wales)





ACCOUNTANTS: GBJ Financial Limited
Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW

PHIL SOLOMONS LTD (REGISTERED NUMBER: 07842210)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,634 32,007

CURRENT ASSETS
Stocks 49,704 28,681
Debtors 5 157,999 16,578
Cash at bank 50,959 355,936
258,662 401,195
CREDITORS
Amounts falling due within one year 6 21,288 73,442
NET CURRENT ASSETS 237,374 327,753
TOTAL ASSETS LESS CURRENT
LIABILITIES

263,008

359,760

CREDITORS
Amounts falling due after more than one
year

7

4,496

14,926
NET ASSETS 258,512 344,834

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 258,511 344,833
258,512 344,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

PHIL SOLOMONS LTD (REGISTERED NUMBER: 07842210)

BALANCE SHEET - continued
30 NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2024 and were signed by:





P Solomons - Director


PHIL SOLOMONS LTD (REGISTERED NUMBER: 07842210)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Phil Solomons Ltd 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.
Improvements to property - 2% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022
and 30 November 2023 8,567 32,332 38,440 79,339
DEPRECIATION
At 1 December 2022 1,364 18,939 27,029 47,332
Charge for year 171 3,349 2,853 6,373
At 30 November 2023 1,535 22,288 29,882 53,705
NET BOOK VALUE
At 30 November 2023 7,032 10,044 8,558 25,634
At 30 November 2022 7,203 13,393 11,411 32,007

PHIL SOLOMONS LTD (REGISTERED NUMBER: 07842210)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,509 (1,275 )
Other debtors 152,490 17,853
157,999 16,578

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,248 4,975
Taxation and social security 12,974 44,201
Other creditors 6,066 24,266
21,288 73,442

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 4,496 14,926