Registered number
02139865
P H Builders Limited
Filleted Accounts
31 May 2024
P H Builders Limited
Registered number: 02139865
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,162 5,549
Current assets
Debtors 4 1,378 351
Cash at bank and in hand 474,805 468,348
476,183 468,699
Creditors: amounts falling due within one year 5 (92,774) (86,878)
Net current assets 383,409 381,821
Net assets 387,571 387,370
Capital and reserves
Called up share capital 100 100
Profit and loss account 387,471 387,270
Shareholders' funds 387,571 387,370
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P A Hunt
Director
Approved by the board on 4 July 2024
P H Builders Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixture s and fittings Motor vehicles Total
£ £ £
Cost
At 1 June 2023 9,032 19,171 28,203
At 31 May 2024 9,032 19,171 28,203
Depreciation
At 1 June 2023 4,922 17,732 22,654
Charge for the year 1,027 360 1,387
At 31 May 2024 5,949 18,092 24,041
Net book value
At 31 May 2024 3,083 1,079 4,162
At 31 May 2023 4,110 1,439 5,549
4 Debtors 2024 2023
£ £
Trade debtors 1,378 -
VAT - 351
1,378 351
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 45
Director's loan 89,850 89,328
Taxation and social security costs 1,474 (3,945)
Other creditors 1,450 1,450
92,774 86,878
6 Related party transactions
The company paid the director P Hunt £350 for use of premises
7 Controlling party
The company is controlled by the director P Hunt by virtue of his holding of 100% of the issued share capital.
8 Other information
P H Builders Limited is a private company limited by shares and incorporated in England. Its registered office is:
Three Oaks
White Lane
Ash Green
Guildford, Surrey
GU12 6HW
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