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REGISTERED NUMBER: 13816121 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Phillips Traditional Metal Roofing Ltd

Phillips Traditional Metal Roofing Ltd (Registered number: 13816121)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Phillips Traditional Metal Roofing Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M H Phillips
Mrs L J Phillips



REGISTERED OFFICE: 1 The Lawns
Abbeydale
Gloucester
Gloucestershire
GL4 5YD



REGISTERED NUMBER: 13816121 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Starling Bank
5th Floor
London Fruit & Wool Exchange
1 Duval Square
London
E1 6PW

Phillips Traditional Metal Roofing Ltd (Registered number: 13816121)

Statement of Financial Position
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,565 37,901

CURRENT ASSETS
Stocks 8,000 8,000
Debtors 5 4,650 3,082
Cash at bank 19,443 42,809
32,093 53,891
CREDITORS
Amounts falling due within one year 6 24,576 86,287
NET CURRENT ASSETS/(LIABILITIES) 7,517 (32,396 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,082

5,505

PROVISIONS FOR LIABILITIES 2,391 5,135
NET ASSETS 14,691 370

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,591 270
SHAREHOLDERS' FUNDS 14,691 370

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.

Phillips Traditional Metal Roofing Ltd (Registered number: 13816121)

Statement of Financial Position - 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 14 September 2024 and were signed on its behalf by:





M H Phillips - Director


Phillips Traditional Metal Roofing Ltd (Registered number: 13816121)

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


1. STATUTORY INFORMATION

Phillips Traditional Metal Roofing 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 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.
Plant and machinery - 20% on reducing balance
Computer equipment - 33% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Phillips Traditional Metal Roofing Ltd (Registered number: 13816121)

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


4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 January 2023 47,210 200 47,410
Additions 105 - 105
Disposals (32,500 ) - (32,500 )
At 31 December 2023 14,815 200 15,015
Depreciation
At 1 January 2023 9,442 67 9,509
Charge for year 2,375 66 2,441
Eliminated on disposal (6,500 ) - (6,500 )
At 31 December 2023 5,317 133 5,450
Net book value
At 31 December 2023 9,498 67 9,565
At 31 December 2022 37,768 133 37,901

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Other debtors 4,650 3,082

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 798 552
Taxation and social security 22,667 3,207
Other creditors 1,111 82,528
24,576 86,287

7. RELATED PARTY DISCLOSURES

M H Phillips & Mrs L J Phillips
Directors

The directors have loaned money to the company. At 31 December 2023, the company owed the directors £148 (2022 - £81,565). This unsecured loan is interest free and has no fixed repayment terms.

During the year the company purchased assets from the director M H Phillips at their market value of £NIL (2022 - £13,260).