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REGISTERED NUMBER: 01624533 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

H. J. PHILLIPS & SON LIMITED

H. J. PHILLIPS & SON LIMITED (Registered number: 01624533)






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


H. J. PHILLIPS & SON LIMITED

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Mrs N L Phillips-Taylor





REGISTERED OFFICE: Yspitty Road
Bynea
Llanelli
Carmarthenshire
SA14 9TD





REGISTERED NUMBER: 01624533 (England and Wales)





ACCOUNTANTS: Cambrian & Co Ltd
13A Victoria Gardens
Neath
West Glamorgan
SA11 3AY

H. J. PHILLIPS & SON LIMITED (Registered number: 01624533)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 329,253 298,263

CURRENT ASSETS
Stocks 201,196 146,916
Debtors 5 215,021 252,358
Cash at bank 294,998 245,100
711,215 644,374
CREDITORS
Amounts falling due within one year 6 429,390 338,107
NET CURRENT ASSETS 281,825 306,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

611,078

604,530

CREDITORS
Amounts falling due after more than one
year

7

(27,447

)

(37,276

)

PROVISIONS FOR LIABILITIES (10,702 ) (10,702 )
NET ASSETS 572,929 556,552

CAPITAL AND RESERVES
Called up share capital 16,965 16,965
Retained earnings 555,964 539,587
SHAREHOLDERS' FUNDS 572,929 556,552

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 her 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.

H. J. PHILLIPS & SON LIMITED (Registered number: 01624533)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 July 2024 and were signed by:





Mrs N L Phillips-Taylor - Director


H. J. PHILLIPS & SON LIMITED (Registered number: 01624533)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

H. J. PHILLIPS & SON 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.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost and 15% 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.

H. J. PHILLIPS & SON LIMITED (Registered number: 01624533)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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 36 (2022 - 34 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022 554,153 807,554 86,949 1,448,656
Additions 80,333 15,335 - 95,668
At 30 November 2023 634,486 822,889 86,949 1,544,324
DEPRECIATION
At 1 December 2022 314,269 765,186 70,938 1,150,393
Charge for year 31,724 25,373 7,581 64,678
At 30 November 2023 345,993 790,559 78,519 1,215,071
NET BOOK VALUE
At 30 November 2023 288,493 32,330 8,430 329,253
At 30 November 2022 239,884 42,368 16,011 298,263

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 74,483 104,520
Other debtors 128,346 136,590
Prepayments and accrued income 12,192 11,248
215,021 252,358

H. J. PHILLIPS & SON LIMITED (Registered number: 01624533)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 340,357 255,594
Tax 11,896 12,077
Social security and other taxes 15,965 17,832
VAT 35,724 47,248
Accrued expenses 25,448 5,356
429,390 338,107

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.23 30.11.22
£    £   
Other loans - 2-5 years 27,447 37,276

8. RELATED PARTY DISCLOSURES

Other Debtors includes an amount of £20,164 (2022 £19,388) relating to a loan to S Phillips a close member of the directors' family. This loan is subject to interest at the official rate and due for repayment within the next 12 months.

Included in trade debtors is an amount of £3,649 (2022 £3,255) owed by close members of the directors family.

Other Debtors includes an amount of £80,000 (2022 £80,000) relating to an investment made by the company on 8th November 2007 with Canada Life. The investment, a single life flexible investment bond where the life assured is director Nicola Phillips-Taylor, has incorrectly shown her as the policyholder instead of the company. As confirmed by the solicitors acting, steps are now being taken to correct this but at the balance sheet date the policyholder was director Nicola Phillips-Taylor. The correct accounting treatment is therefore a debtor.

The Directors operate a current account with the company, the balance at the end of the year was £Nil.

During the year the director Mrs J Phillips was paid £5,000 (2022 £30,000) for rent of the building.