2023-02-01 2024-01-31 07925162 PHIL BESSANT LIMITED false 07925162 2023-02-01 2024-01-31 07925162 uk-bus:Director1 2023-02-01 2024-01-31 07925162 uk-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07925162 uk-bus:SmallEntities 2023-02-01 2024-01-31 07925162 uk-bus:FullAccounts 2023-02-01 2024-01-31 07925162 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07925162 2023-02-01 07925162 2024-01-31 07925162 2023-01-31 xbrli:pure iso4217:GBP 07925162 2022-02-01 2023-01-31
Company Registration Number : 07925162 (England and Wales)
07925162
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2024-01-31
false
PHIL BESSANT LIMITED
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2023-02-01
PHIL BESSANT LIMITED
Unaudited filleted financial statements
For the year ended 31 January 2024
PHIL BESSANT LIMITED
Contents
For the year ended 31 January 2024

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 6


PHIL BESSANT LIMITED
Company Information
For the year ended 31 January 2024

Company registration number 07925162 (England and Wales)
Directors K J Bessant
P M Bessant
S Agarwal
Registered office address Agincourt House
14 Clytha Park Road
Newport
Wales
NP20 4PB
Accountant DNS Associates
Chartered Accountants
Dns House
Harrow, Middlesex
HA3 8DP
PHIL BESSANT LIMITED
Statement of Financial Position
For the year ended 31 January 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 57,238 36,260
Property, plant and equipment 5,435 7,247
5 62,673 43,507
Current assets
Inventories 40,000 25,000
Debtors 209,489 197,726
Cash and cash equivalents 67,974 54,498
317,463 277,224
Current liabilities
Creditors: Amounts falling due within one year (214,674) (113,940)
Corporation tax payable (25,264) (25,007)
(239,939) (138,947)
Net current assets/(liabilities) 77,524 138,277
Total assets less current liabilities 140,198 181,784
Non-current liabilities
Creditors: Amounts falling due after more than one year (16,259) (36,259)
Provision for liabilities (15,270) -
Net assets/(liabilities) 108,669 145,525
Capital and reserves
Called up share capital 101 101
Share Premium 9,000 9,000
Retained earnings 99,568 136,424
Shareholders' funds 108,669 145,525
For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 31 October 2024
.............................
S Agarwal (Director)
Company registration number: 07925162
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2024-01-31 31 January 2024
2024 2023
£ £
Fixed Assets 62,673 43,507
Current Assets 312,362 266,288
Prepayments and accrued income 5,101 10,936
Creditors: amounts falling due within one year (239,939) (138,947)
Net current assets (liabilities) 77,524 138,277
Total assets less current liabilities 140,198 181,784
CREDITORS: Amounts falling due more than one year (16,259) (36,259)
Provisions for liabilities (15,270) 0
Net Assets (liabilities) 108,669 145,525
Capital and Reserves 108,669 145,525
For the year ending 31/01/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. For the year ending 31-01-2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 31 October 2024 2024-10-31 and signed on behalf of the board,
.............................
S Agarwal
Director
Company registration number: 07925162
PHIL BESSANT LIMITED
Notes to the Financial Statements
For the year ended 31 January 2024

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Agincourt House, 14 Clytha Park Road, Newport, Wales, NP20 4PB.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Interest income
Interest income is recognised using the effective interest method.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis over its useful life, which is estimated to be 10 years. Goodwill amortisation is included within administration expenses.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings25% reducing balance
Equipment25% straight line
Motor Cars
Inventories
Inventories are measured at the lower of cost and net realisable value. Costs of inventories are determined on a first-in-first-out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs necessary to make the sale.
Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement 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 current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Employee benefits
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

(4) Employees
During the year, the average number of employees including director was 7 (2023 : 6).

(5) Fixed assets
Intangible

£
Tangible

£
Totals

£
Cost
As at 01 February 202366,95587,840154,795
Additions20,978-20,978
Disposals-(47,697)(47,697)
As at 31 January 202487,93340,143128,076
Depreciation/Amortisation
As at 01 February 202330,69580,593111,288
For the year-1,8121,812
Write off on disposals-(47,697)(47,697)
As at 31 January 202430,69534,70865,403
Net book value
As at 31 January 202457,2385,43562,673
As at 31 January 202336,2607,24743,507