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Registered number: 09114678
Phillips Engineering Services (Bristol) Ltd
Financial Statements
For The Year Ended 31 July 2024
Oakensen (Bristol)
Chartered Accountants
Westbury Court Church Road
Westbury-on-Trym
Bristol
BS9 3EF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09114678
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 1,229 572
1,229 572
CURRENT ASSETS
Debtors 4 6,022 5,653
Cash at bank and in hand 216,043 203,358
222,065 209,011
Creditors: Amounts Falling Due Within One Year 5 (26,982 ) (32,743 )
NET CURRENT ASSETS (LIABILITIES) 195,083 176,268
TOTAL ASSETS LESS CURRENT LIABILITIES 196,312 176,840
PROVISIONS FOR LIABILITIES
Deferred Taxation (38 ) -
NET ASSETS 196,274 176,840
CAPITAL AND RESERVES
Called up share capital 6 1 1
Profit and Loss Account 196,273 176,839
SHAREHOLDERS' FUNDS 196,274 176,840
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P Phillips
Director
17 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 5 years straight line
Computer Equipment 5 years straight line
1.4. Taxation
Income tax expense represents the sum of the tax currently payable tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2023: 1)
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3. Tangible Assets
Plant & Machinery
£
Cost
As at 1 August 2023 1,850
Additions 1,168
Disposals (1,069 )
As at 31 July 2024 1,949
Depreciation
As at 1 August 2023 1,278
Provided during the period 382
Disposals (940 )
As at 31 July 2024 720
Net Book Value
As at 31 July 2024 1,229
As at 1 August 2023 572
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,022 5,653
6,022 5,653
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
VAT 5,170 4,939
Other creditors 20,096 26,424
Accruals and deferred income 1,716 1,380
26,982 32,743
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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7. General Information
Phillips Engineering Services (Bristol) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09114678 . The registered office is Westbury Court Church Road, Westbury-On-Trym, Bristol, BS9 3EF.
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