IRIS Accounts Production v24.2.0.383 04132311 Board of Directors 1.2.23 31.1.24 31.1.24 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041323112023-01-31041323112024-01-31041323112023-02-012024-01-31041323112022-01-31041323112022-02-012023-01-31041323112023-01-3104132311ns15:EnglandWales2023-02-012024-01-3104132311ns14:PoundSterling2023-02-012024-01-3104132311ns10:Director12023-02-012024-01-3104132311ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3104132311ns10:SmallEntities2023-02-012024-01-3104132311ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3104132311ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3104132311ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3104132311ns10:FullAccounts2023-02-012024-01-3104132311ns10:OrdinaryShareClass12023-02-012024-01-3104132311ns10:Director22023-02-012024-01-3104132311ns10:CompanySecretary12023-02-012024-01-3104132311ns10:RegisteredOffice2023-02-012024-01-3104132311ns5:CurrentFinancialInstruments2024-01-3104132311ns5:CurrentFinancialInstruments2023-01-3104132311ns5:ShareCapital2024-01-3104132311ns5:ShareCapital2023-01-3104132311ns5:SharePremium2024-01-3104132311ns5:SharePremium2023-01-3104132311ns5:RetainedEarningsAccumulatedLosses2024-01-3104132311ns5:RetainedEarningsAccumulatedLosses2023-01-3104132311ns5:CostValuation2023-01-3104132311ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3104132311ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3104132311ns10:OrdinaryShareClass12024-01-31
REGISTERED NUMBER: 04132311 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2024

for

PHG Holdings Durham Limited

PHG Holdings Durham Limited (Registered number: 04132311)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PHG Holdings Durham Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: P J Gowland
H A Gowland





SECRETARY: H A Gowland





REGISTERED OFFICE: C/O Devon Conversions Limited
Mainsforth Road
Ferryhill
Co Durham
DL17 9DE





REGISTERED NUMBER: 04132311 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

PHG Holdings Durham Limited (Registered number: 04132311)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 26,000 26,000
Investment property 5 908,716 801,678
934,716 827,678

CURRENT ASSETS
Debtors 6 413,049 49,209
Cash at bank and in hand 350,777 386,035
763,826 435,244
CREDITORS
Amounts falling due within one year 7 57,146 27,280
NET CURRENT ASSETS 706,680 407,964
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,641,396

1,235,642

CAPITAL AND RESERVES
Called up share capital 8 2,600 2,600
Share premium 23,500 23,500
Retained earnings 1,615,296 1,209,542
SHAREHOLDERS' FUNDS 1,641,396 1,235,642

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 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2024 and were signed on its behalf by:



H A Gowland - Director


PHG Holdings Durham Limited (Registered number: 04132311)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

PHG Holdings Durham 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.

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.

There were no material departures from the standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Preparation of consolidated financial statements
The financial statements contain information about PHG Holdings Durham Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group or those concluded under market conditions.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition
Turnover from rental income is recognised in the period to which it relates.

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

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

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


PHG Holdings Durham Limited (Registered number: 04132311)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 26,000
NET BOOK VALUE
At 31 January 2024 26,000
At 31 January 2023 26,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 801,678
Additions 107,038
At 31 January 2024 908,716
NET BOOK VALUE
At 31 January 2024 908,716
At 31 January 2023 801,678

In the opinion of the directors, the cost of the investment property represents the fair value as at 31 January 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 413,049 23,029
Prepayments and accrued income - 26,180
413,049 49,209

PHG Holdings Durham Limited (Registered number: 04132311)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 19,098 16,232
Director's current account 28,048 11,048
Accruals and deferred income 10,000 -
57,146 27,280

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,600 Ordinary £1 2,600 2,600

9. RELATED PARTY DISCLOSURES

There are no related party transactions not concluded at market rate except for the following:

2024 2023
£ £

Amounts due to directors 28,048 11,048

No interest was charged.