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REGISTERED NUMBER: 12403331 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PHILLIP COTTON LIMITED

PHILLIP COTTON LIMITED (REGISTERED NUMBER: 12403331)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PHILLIP COTTON LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTOR: Mr P D Cotton





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 12403331 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

PHILLIP COTTON LIMITED (REGISTERED NUMBER: 12403331)

ABRIDGED BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 518,401 521,127

CURRENT ASSETS
Debtors 534,145 556,453

CREDITORS
Amounts falling due within one year - 17,285
NET CURRENT ASSETS 534,145 539,168
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,052,546

1,060,295

PROVISIONS FOR LIABILITIES 34,224 36,374
NET ASSETS 1,018,322 1,023,921

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 1,008,433 1,008,433
Fair value reserve 5,414 11,865
Retained earnings 4,375 3,523
SHAREHOLDERS' FUNDS 1,018,322 1,023,921

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

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

PHILLIP COTTON LIMITED (REGISTERED NUMBER: 12403331)

ABRIDGED BALANCE SHEET - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 August 2024 and were signed by:





Mr P D Cotton - Director


PHILLIP COTTON LIMITED (REGISTERED NUMBER: 12403331)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Phillip Cotton 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 as modified by the revaluation of certain assets.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

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

PHILLIP COTTON LIMITED (REGISTERED NUMBER: 12403331)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 February 2023 521,127
Additions 5,875
Revaluations (8,601 )
At 31 January 2024 518,401
NET BOOK VALUE
At 31 January 2024 518,401
At 31 January 2023 521,127


Listed investments are measured at market value with all changes in market value, including both realized and unrealized gains and losses, recognized in the Profit and Loss statement.

5. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption as per paragraph 33.1A of FRS 102 Related Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.