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REGISTERED NUMBER: 13223821 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PHP ESTATES LTD

PHP ESTATES LTD (REGISTERED NUMBER: 13223821)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


PHP ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr P H Patel





REGISTERED OFFICE: 91 Sudbury Court Drive
Harrow
Middlesex
HA1 3SS





REGISTERED NUMBER: 13223821 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PHP ESTATES LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PHP Estates Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of PHP Estates Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PHP Estates Ltd and state those matters that we have agreed to state to the director of PHP Estates Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PHP Estates Ltd and its director for our work or for this report.

It is your duty to ensure that PHP Estates Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PHP Estates Ltd. You consider that PHP Estates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PHP Estates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


11 September 2024

PHP ESTATES LTD (REGISTERED NUMBER: 13223821)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 656,465 656,465

CURRENT ASSETS
Cash at bank 5,087 6,276

CREDITORS
Amounts falling due within one year 5 229,034 232,294
NET CURRENT LIABILITIES (223,947 ) (226,018 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

432,518

430,447

CREDITORS
Amounts falling due after more than one year 6 434,700 434,700
NET LIABILITIES (2,182 ) (4,253 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 (2,282 ) (4,353 )
SHAREHOLDERS' FUNDS (2,182 ) (4,253 )

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

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

PHP ESTATES LTD (REGISTERED NUMBER: 13223821)

BALANCE SHEET - continued
31 MARCH 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 director and authorised for issue on 10 September 2024 and were signed by:





Mr P H Patel - Director


PHP ESTATES LTD (REGISTERED NUMBER: 13223821)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

PHP Estates 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 represents rents receivable, net of value added tax. Turnover is recognised on a rent receivable basis to the balance sheet date.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes
in fair value is recognised in profit or loss.

Investment properties are properties which are held either to earn rental income or for capital appreciation or
for both. Investment properties are recognised initially at cost.

Subsequent to initial recognition:

Investment properties whose fair value can be measured reliably without undue cost or effort are
held at fair value. Any gains or losses arising from changes in the fair value are recognised in profit
or loss in the period that they arise.

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.

PHP ESTATES LTD (REGISTERED NUMBER: 13223821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Interest receivable and interest payable
Interest receivable and interest payable are recognised in profit or loss as they accrue, using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 656,465
NET BOOK VALUE
At 31 March 2024 656,465
At 31 March 2023 656,465

In the opinion of the directors, the market value of the Investments Property as at the balance sheet date is not significantly differently from that stated above.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to connected companies 85,222 85,222
Other creditors 520 1,040
Directors' current accounts 142,932 144,932
Accrued expenses 360 1,100
229,034 232,294

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank Loan 434,700 434,700

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank Loan 434,700 434,700

PHP ESTATES LTD (REGISTERED NUMBER: 13223821)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans more 5 yrs non-inst 434,700 434,700

The bank loans are secured by a legal charge over the investment properties. The loans are interest only, fully repayable in 25 years period and the rates of interest charged is 3.35% above the bank base rate.

8. RESERVES
Retained
earnings
£   

At 1 April 2023 (4,353 )
Profit for the year 2,071
At 31 March 2024 (2,282 )

9. RELATED PARTY DISCLOSURES

At the year end, the company owed £142,932 (2023: £144,932) to the director.

At the year end, the company owed £85,222 (2023: £85,222) to PHP Dental Ltd, a company in which the director has a beneficial interest.