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REGISTERED NUMBER: 01216688 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PHN ENTERPRISES LIMITED

PHN ENTERPRISES LIMITED (REGISTERED NUMBER: 01216688)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHN ENTERPRISES LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mr D P Rollings
Mrs J L Rollings





SECRETARY: Mrs J L Rollings





REGISTERED OFFICE: Kingscott Dix
7 Rockfield Business Park
Old Station Drive, Leckhampton
Cheltenham
Gloucestershire
GL530AN





REGISTERED NUMBER: 01216688 (England and Wales)





ACCOUNTANTS: Kingscott Dix (Cheltenham) Limited
7 Rockfield Business Park
Old Station Drive
Leckhampton
Cheltenham
GL53 0AN

PHN ENTERPRISES LIMITED (REGISTERED NUMBER: 01216688)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 7,563 11,064
Tangible assets 5 897,681 648,666
905,244 659,730

CURRENT ASSETS
Stocks 478,307 598,399
Debtors 6 884,904 704,783
Cash at bank and in hand 13,896 32,774
1,377,107 1,335,956
CREDITORS
Amounts falling due within one year 7 (1,206,313 ) (1,084,322 )
NET CURRENT ASSETS 170,794 251,634
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,076,038

911,364

CREDITORS
Amounts falling due after more than one
year

8

(368,381

)

(363,899

)

PROVISIONS FOR LIABILITIES 11 (93,185 ) (63,717 )
NET ASSETS 614,472 483,748

CAPITAL AND RESERVES
Called up share capital 33,000 33,000
Retained earnings 581,472 450,748
SHAREHOLDERS' FUNDS 614,472 483,748

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.

PHN ENTERPRISES LIMITED (REGISTERED NUMBER: 01216688)

BALANCE SHEET - 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





Mr D P Rollings - Director


PHN ENTERPRISES LIMITED (REGISTERED NUMBER: 01216688)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

PHN Enterprises 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.

Significant judgements and estimates
The directors are of the opinion that there are no significant judgements or estimations used in preparing the financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the period of the lease.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - at variable rates on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2022 - 43 ) .

PHN ENTERPRISES LIMITED (REGISTERED NUMBER: 01216688)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 35,000
AMORTISATION
At 1 January 2023 23,936
Charge for year 3,501
At 31 December 2023 27,437
NET BOOK VALUE
At 31 December 2023 7,563
At 31 December 2022 11,064

5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST OR VALUATION
At 1 January 2023 29,635 67,331 643,517
Additions - - 186,733
Disposals - - -
At 31 December 2023 29,635 67,331 830,250
DEPRECIATION
At 1 January 2023 28,714 42,899 311,302
Charge for year 737 6,616 41,955
Eliminated on disposal - - -
At 31 December 2023 29,451 49,515 353,257
NET BOOK VALUE
At 31 December 2023 184 17,816 476,993
At 31 December 2022 921 24,432 332,215

PHN ENTERPRISES LIMITED (REGISTERED NUMBER: 01216688)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 59,498 346,046 1,146,027
Additions 27,796 136,397 350,926
Disposals - (13,952 ) (13,952 )
At 31 December 2023 87,294 468,491 1,483,001
DEPRECIATION
At 1 January 2023 30,956 83,490 497,361
Charge for year 5,333 42,062 96,703
Eliminated on disposal - (8,744 ) (8,744 )
At 31 December 2023 36,289 116,808 585,320
NET BOOK VALUE
At 31 December 2023 51,005 351,683 897,681
At 31 December 2022 28,542 262,556 648,666

Cost or valuation at 31 December 2023 is represented by:

Improvements
Short to Plant and
leasehold property machinery
£    £    £   
Cost 29,635 67,331 830,250

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost 87,294 468,491 1,483,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 186,918 180,170
Other debtors 697,986 524,613
884,904 704,783

PHN ENTERPRISES LIMITED (REGISTERED NUMBER: 01216688)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 198,043 119,390
Hire purchase contracts (see note 9) 138,656 56,131
Trade creditors 630,933 561,503
Taxation and social security 160,406 166,926
Other creditors 78,275 180,372
1,206,313 1,084,322

The company is subject to a confidential invoice discounting agreement. Amounts received from the invoice discounters represent monies received in advance of settlement of debts. The company is liable to repay these amounts if the debts are not received by the invoice discounter. The invoice discounter has a fixed charge on the receipt of other debts due to the company.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 50,383 166,017
Hire purchase contracts (see note 9) 317,998 197,882
368,381 363,899

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,138 57,695

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 138,656 56,131
Between one and five years 317,998 197,882
456,654 254,013

Non-cancellable operating leases
2023 2022
£    £   
Within one year 145,264 55,400
Between one and five years 57,775 150,450
In more than five years 97,550 -
300,589 205,850

PHN ENTERPRISES LIMITED (REGISTERED NUMBER: 01216688)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 127,056 98,219
Bank loans 121,370 187,188
Other loans 41,778 123,973
290,204 409,380

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 93,185 63,717

Deferred
tax
£   
Balance at 1 January 2023 63,717
Provided during year 29,468
movements in the year
Balance at 31 December 2023 93,185

12. RELATED PARTY DISCLOSURES

Mr D P Rollings director and shareholder of the company was paid £38,000 in rent.

Idea Homes Limited a company is which Mr D P Rollings is a shareholder and director owes PHN Enterprises Limited £26,230.

D P Rollings Limited a company in which Mr D P Rollings is a shareholder and director owes PHN Enterprises Limited £519,448..

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D P Rollings.