Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07056689 Mrs Michelle Phillips Mrs Michelle Phillips iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07056689 2023-03-31 07056689 2024-03-31 07056689 2023-04-01 2024-03-31 07056689 frs-core:Non-currentFinancialInstruments 2024-03-31 07056689 frs-core:ComputerEquipment 2024-03-31 07056689 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07056689 frs-core:ComputerEquipment 2023-03-31 07056689 frs-core:FurnitureFittings 2024-03-31 07056689 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07056689 frs-core:FurnitureFittings 2023-03-31 07056689 frs-core:MotorVehicles 2024-03-31 07056689 frs-core:MotorVehicles 2023-04-01 2024-03-31 07056689 frs-core:MotorVehicles 2023-03-31 07056689 frs-core:ShareCapital 2024-03-31 07056689 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07056689 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07056689 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07056689 frs-bus:SmallEntities 2023-04-01 2024-03-31 07056689 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07056689 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07056689 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07056689 frs-bus:OrdinaryShareClass1 2024-03-31 07056689 frs-bus:OrdinaryShareClass3 2023-04-01 2024-03-31 07056689 frs-bus:OrdinaryShareClass3 2024-03-31 07056689 frs-bus:Director1 2023-04-01 2024-03-31 07056689 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 07056689 frs-countries:EnglandWales 2023-04-01 2024-03-31 07056689 2022-03-31 07056689 2023-03-31 07056689 2022-04-01 2023-03-31 07056689 frs-core:Non-currentFinancialInstruments 2023-03-31 07056689 frs-core:ShareCapital 2023-03-31 07056689 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 07056689 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07056689 frs-bus:OrdinaryShareClass3 2022-04-01 2023-03-31
Registered number: 07056689
Phillips Homes Lettings And Sales Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
James Khan
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07056689
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 40,811 51,038
40,811 51,038
CURRENT ASSETS
Debtors 55,637 54,332
Cash at bank and in hand 58,187 59,825
113,824 114,157
Creditors: Amounts Falling Due Within One Year (30,811 ) (35,892 )
NET CURRENT ASSETS (LIABILITIES) 83,013 78,265
TOTAL ASSETS LESS CURRENT LIABILITIES 123,824 129,303
Creditors: Amounts Falling Due After More Than One Year (14,167 ) (24,167 )
NET ASSETS 109,657 105,136
CAPITAL AND RESERVES
Called up share capital 5 2 2
Profit and Loss Account 109,655 105,134
SHAREHOLDERS' FUNDS 109,657 105,136
Page 1
Page 2
For the year ending 31 March 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 her 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
Mrs Michelle Phillips
Director
22/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Phillips Homes Lettings And Sales Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07056689 . The registered office is 120 Dunraven Street, Tonypandy, Mid Glamorgan, CF40 1AS.
2. Accounting Policies
2.1. 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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.3. 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:
Motor Vehicles 25% on reducing balance basis
Fixtures & Fittings 12.5% on reducing balance basis
Computer Equipment 12.5% on reducing balance basis
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
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 year 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 64,438 16,225 31,638 112,301
Additions - 1,289 - 1,289
As at 31 March 2024 64,438 17,514 31,638 113,590
Depreciation
As at 1 April 2023 23,548 13,645 24,070 61,263
Provided during the period 10,222 339 955 11,516
As at 31 March 2024 33,770 13,984 25,025 72,779
Net Book Value
As at 31 March 2024 30,668 3,530 6,613 40,811
As at 1 April 2023 40,890 2,580 7,568 51,038
5. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.000 each 1 1
1 Ordinary B shares of £ 1.000 each 1 1
2 2
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