PTP Accounts Production v24.2.0.383 02207448 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false Ordinary Share Capital 1.00000 'A' Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh022074482023-04-30022074482024-04-30022074482023-05-012024-04-30022074482022-04-30022074482022-05-012023-04-30022074482023-04-3002207448ns15:EnglandWales2023-05-012024-04-3002207448ns14:PoundSterling2023-05-012024-04-3002207448ns10:Director12023-05-012024-04-3002207448ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3002207448ns10:SmallEntities2023-05-012024-04-3002207448ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3002207448ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3002207448ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3002207448ns10:FullAccounts2023-05-012024-04-300220744812023-05-012024-04-3002207448ns10:OrdinaryShareClass12023-05-012024-04-3002207448ns10:OrdinaryShareClass22023-05-012024-04-3002207448ns10:Director22023-05-012024-04-3002207448ns10:Director32023-05-012024-04-3002207448ns10:CompanySecretary12023-05-012024-04-3002207448ns10:RegisteredOffice2023-05-012024-04-3002207448ns5:CurrentFinancialInstruments2024-04-3002207448ns5:CurrentFinancialInstruments2023-04-3002207448ns5:ShareCapital2024-04-3002207448ns5:ShareCapital2023-04-3002207448ns5:FurtherSpecificReserve1ComponentTotalEquity2024-04-3002207448ns5:FurtherSpecificReserve1ComponentTotalEquity2023-04-3002207448ns5:RetainedEarningsAccumulatedLosses2024-04-3002207448ns5:RetainedEarningsAccumulatedLosses2023-04-3002207448ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3002207448ns5:PatentsTrademarksLicencesConcessionsSimilar2023-05-012024-04-3002207448ns5:IntangibleAssetsOtherThanGoodwill2023-04-3002207448ns5:IntangibleAssetsOtherThanGoodwill2024-04-3002207448ns5:IntangibleAssetsOtherThanGoodwill2023-04-3002207448ns5:PlantMachinery2023-04-3002207448ns5:MotorVehicles2023-04-3002207448ns5:ComputerEquipment2023-04-3002207448ns5:PlantMachinery2023-05-012024-04-3002207448ns5:MotorVehicles2023-05-012024-04-3002207448ns5:ComputerEquipment2023-05-012024-04-3002207448ns5:PlantMachinery2024-04-3002207448ns5:MotorVehicles2024-04-3002207448ns5:ComputerEquipment2024-04-3002207448ns5:PlantMachinery2023-04-3002207448ns5:MotorVehicles2023-04-3002207448ns5:ComputerEquipment2023-04-3002207448ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3002207448ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3002207448ns10:OrdinaryShareClass12024-04-3002207448ns10:OrdinaryShareClass22024-04-3002207448ns5:RetainedEarningsAccumulatedLosses2023-04-3002207448ns5:FurtherSpecificReserve1ComponentTotalEquity2023-04-3002207448ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-30
REGISTERED NUMBER: 02207448 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

PHILLIPS FOILS LIMITED

PHILLIPS FOILS LIMITED (Registered number: 02207448)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHILLIPS FOILS LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTORS: P LO
A P W LO
D J MATTHEWS





SECRETARY: P LO





REGISTERED OFFICE: XIANG And CO
BURRELL HOUSE
44 BROADWAY
LONDON
E15 1XH





REGISTERED NUMBER: 02207448 (England and Wales)






PHILLIPS FOILS LIMITED (Registered number: 02207448)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 300,000 300,000
Tangible assets 5 141 197
300,141 300,197

CURRENT ASSETS
Stocks 6 9,516 8,192
Debtors 7 494,568 475,983
Cash at bank and in hand 99,910 187,256
603,994 671,431
CREDITORS
Amounts falling due within one year 8 230,448 301,140
NET CURRENT ASSETS 373,546 370,291
TOTAL ASSETS LESS CURRENT
LIABILITIES

673,687

670,488

PROVISIONS FOR LIABILITIES - 3,421
NET ASSETS 673,687 667,067

CAPITAL AND RESERVES
Called up share capital 10 125,000 125,000
Other reserves 11 298,313 298,313
Retained earnings 11 250,374 243,754
SHAREHOLDERS' FUNDS 673,687 667,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 FOILS LIMITED (Registered number: 02207448)

Balance Sheet - continued
30 April 2024


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 Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





P LO - Director


PHILLIPS FOILS LIMITED (Registered number: 02207448)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

PHILLIPS FOILS 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademark are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Freehold Property 2% on cost
Plant and Machinery 12.5% on cost
Computer Equipment 20% on cost
Motor Vehicles 20% 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.

PHILLIPS FOILS LIMITED (Registered number: 02207448)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

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 9 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 300,000
NET BOOK VALUE
At 30 April 2024 300,000
At 30 April 2023 300,000

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 377,421 26,601 135,311 539,333
DEPRECIATION
At 1 May 2023 377,224 26,601 135,311 539,136
Charge for year 56 - - 56
At 30 April 2024 377,280 26,601 135,311 539,192
NET BOOK VALUE
At 30 April 2024 141 - - 141
At 30 April 2023 197 - - 197

6. STOCKS
30.4.24 30.4.23
£    £   
Finished goods 9,516 8,192

PHILLIPS FOILS LIMITED (Registered number: 02207448)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 191,278 180,947
Other debtors 223,701 223,701
Hire Purchase contract - 292
Deferred tax asset 10,639 -
Prepayments and accrued income 68,950 71,043
494,568 475,983

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 89,931 81,456
Tax 24,234 57,191
Social security and other taxes 32,638 26,130
VAT 12,841 22,690
Directors' current accounts 12,713 55,000
Accrued expenses 58,091 58,673
230,448 301,140

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
12,500 Ordinary Share Capital £1 12,500 12,500
112,500 'A' Ordinary shares £1 112,500 112,500
125,000 125,000

11. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 May 2023 243,754 298,313 542,067
Profit for the year 83,903 83,903
Dividends (77,283 ) (77,283 )
At 30 April 2024 250,374 298,313 548,687

PHILLIPS FOILS LIMITED (Registered number: 02207448)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. PENSION COMMITMENTS

The company operates a defined contribution pension scheme.

The assets of the scheme are held in a fund independent from the assets of the company.

The pension cost charge represents contributions to the funds under the rules of the schemes. The total charge for the year was £86,896 (2023: £124,649).

13. RELATED PARTY DISCLOSURES

The company has been controlled throughout the period by its parent company PFL UK Limited. As at the balance sheet date the amount owed by PFL UK Limited was £193,701(2023: £193,701).

A P Lo and P Y Lo are also directors of PFL UK Limited, the holding company
,
As at the year end, the company paid the amount of £34,783 (2023: £90,015) to P Y Lo and £42,500 (2023: £109,985) to A P W Lo as dividend.They are both directors of the company.

14. ULTIMATE CONTROLLING PARTY

The company was under the control of A P Lo who has a controlling interest in PFL UK Limited, the holding company.