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REGISTERED NUMBER: 01183338 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Phillip's Man's Shops Limited

Phillip's Man's Shops Limited (Registered number: 01183338)






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


Phillip's Man's Shops Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs V J Mummery
Mr S Mummery
Miss C Mummery





SECRETARY: Mrs V J Mummery





REGISTERED OFFICE: 35 High Street
CRANBROOK
Kent
TN17 3EE





REGISTERED NUMBER: 01183338 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Bank Chambers
61 High Street
Cranbrook
Kent
TN17 3EG

Phillip's Man's Shops Limited (Registered number: 01183338)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,379 2,144

CURRENT ASSETS
Stocks 358,580 381,811
Debtors 5 17,699 15,013
Cash at bank and in hand 3,290 12,261
379,569 409,085
CREDITORS
Amounts falling due within one year 6 316,651 300,349
NET CURRENT ASSETS 62,918 108,736
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,297

110,880

CREDITORS
Amounts falling due after more than
one year

7

(50,971

)

(50,971

)

PROVISIONS FOR LIABILITIES - (168 )
NET ASSETS 14,326 59,741

CAPITAL AND RESERVES
Called up share capital 8 18,345 18,345
Retained earnings (4,019 ) 41,396
SHAREHOLDERS' FUNDS 14,326 59,741

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 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.

Phillip's Man's Shops Limited (Registered number: 01183338)

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 Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:




Mrs V J Mummery - Director Mr S Mummery - Director




Miss C Mummery - Director


Phillip's Man's Shops Limited (Registered number: 01183338)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Phillip's Man's Shops 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 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.

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.

Phillip's Man's Shops Limited (Registered number: 01183338)

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 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 100,097 12,254 112,351
Additions 1,825 - 1,825
Disposals (37,436 ) - (37,436 )
At 31 December 2023 64,486 12,254 76,740
DEPRECIATION
At 1 January 2023 99,000 11,207 110,207
Charge for year 532 262 794
Eliminated on disposal (36,640 ) - (36,640 )
At 31 December 2023 62,892 11,469 74,361
NET BOOK VALUE
At 31 December 2023 1,594 785 2,379
At 31 December 2022 1,097 1,047 2,144

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,413 2,672
Other debtors 16,286 12,341
17,699 15,013

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,862 4,935
Taxation and social security 8,824 12,113
Other creditors 305,965 283,301
316,651 300,349

Phillip's Man's Shops Limited (Registered number: 01183338)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 50,971 50,971

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid: Nominal 31.12.20 31.12.19
Number: Class: Value: £    £   

18,045 Ordinary 'A' £1 18,045 18,045
100 Ordinary 'B' £1 100 100
100 Ordinary 'C' £1 100 100
100 Ordinary 'D' £1 100 100
18,345 18,345


9. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for the directors. The assets of the scheme are held separately from those of the company in a privately administered fund. There were no contributions payable to the scheme in respect of the accounting period.

The company also operates an Automatic Enrolment pension scheme for the employees. Contributions by the company to this scheme were £775 (2022: £733). At the year end, there was a balance of £154 due to be paid over to the pension scheme in respect of the December 2023 payroll deductions.

10. RELATED PARTY DISCLOSURES

During the year the company paid rent of £14,000 in respect of properties owned by the directors' pension fund. Formal leases are in place and the rents have been paid at full market value.