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REGISTERED NUMBER: 06471570 (England and Wales)















PHIL EDWARDS & SON LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






PHIL EDWARDS & SON LIMITED (REGISTERED NUMBER: 06471570)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHIL EDWARDS & SON LIMITED

COMPANY INFORMATION
for the Year Ended 31 JANUARY 2024







DIRECTOR: Mr P Edwards





REGISTERED OFFICE: Irfon House
Cnwce
Cilgerran
Cardigan
Ceredigion
SA43 2SR





REGISTERED NUMBER: 06471570 (England and Wales)





ACCOUNTANTS: D M B Davies Limited
Broyan House
Priory Street
Cardigan
Ceredigion
SA43 1BZ

PHIL EDWARDS & SON LIMITED (REGISTERED NUMBER: 06471570)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,013 22,288

CURRENT ASSETS
Stocks 11,250 8,750
Debtors 5 66,637 62,892
Cash at bank - 3,665
77,887 75,307
CREDITORS
Amounts falling due within one year 6 67,234 64,287
NET CURRENT ASSETS 10,653 11,020
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,666

33,308

PROVISIONS FOR LIABILITIES 3,232 3,861
NET ASSETS 24,434 29,447

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 24,433 29,446
SHAREHOLDERS' FUNDS 24,434 29,447

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 director acknowledges his 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.

PHIL EDWARDS & SON LIMITED (REGISTERED NUMBER: 06471570)

BALANCE SHEET - continued
31 JANUARY 2024


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 director and authorised for issue on 29 October 2024 and were signed by:





Mr P Edwards - Director


PHIL EDWARDS & SON LIMITED (REGISTERED NUMBER: 06471570)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 JANUARY 2024


1. STATUTORY INFORMATION

Phil Edwards & Son 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.

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 etc - 15% on reducing balance

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 balance sheet date.

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.

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.

PHIL EDWARDS & SON LIMITED (REGISTERED NUMBER: 06471570)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 JANUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023
and 31 January 2024 3,950 25,105 2,347 31,402
DEPRECIATION
At 1 February 2023 2,221 5,785 1,108 9,114
Charge for year 259 4,830 186 5,275
At 31 January 2024 2,480 10,615 1,294 14,389
NET BOOK VALUE
At 31 January 2024 1,470 14,490 1,053 17,013
At 31 January 2023 1,729 19,320 1,239 22,288

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,964 23,240
Other debtors 29,673 39,652
66,637 62,892

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,546 -
Hire purchase contracts 12,039 15,273
Trade creditors 21,726 21,020
Taxation and social security 17,098 9,224
Other creditors 13,825 18,770
67,234 64,287

7. RELATED PARTY DISCLOSURES

According to the Directors there were no material related party transaction during the year.

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Edwards.