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REGISTERED NUMBER: 04886252 (England and Wales)















PHF SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PHF SERVICES LIMITED (REGISTERED NUMBER: 04886252)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


PHF SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: T R Acworth
Mrs J C Acworth





REGISTERED OFFICE: Castle Cavendish Works
Dorking Road
Nottingham
NG7 5PN





REGISTERED NUMBER: 04886252 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Princes Court
Royal Way
Loughborough
Leicestershire
LE11 5XR

PHF SERVICES LIMITED (REGISTERED NUMBER: 04886252)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 675 983

CURRENT ASSETS
Debtors 5 185,058 19,949
Cash at bank and in hand 206,119 23,602
391,177 43,551
CREDITORS
Amounts falling due within one year 6 994,938 705,641
NET CURRENT LIABILITIES (603,761 ) (662,090 )
TOTAL ASSETS LESS CURRENT LIABILITIES (603,086 ) (661,107 )

CREDITORS
Amounts falling due after more than one year 7 212,012 224,302
NET LIABILITIES (815,098 ) (885,409 )

CAPITAL AND RESERVES
Called up share capital 8 11,837 11,837
Share premium 852,454 852,454
Retained earnings (1,679,389 ) (1,749,700 )
SHAREHOLDERS' FUNDS (815,098 ) (885,409 )

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2024 and were signed on its behalf by:





T R Acworth - Director


PHF SERVICES LIMITED (REGISTERED NUMBER: 04886252)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

PHF Services 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 (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. The policies have been consistently applied to all years presented unless otherwise stated.

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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts rebates, value added tax and other sales taxes. Revenue is recognised on provision of services.

Property, plant and equipment
Property, plant and equipment is stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment20% on cost
Fixtures & fittings20% on cost
Computer equipment25% straight line

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PHF SERVICES LIMITED (REGISTERED NUMBER: 04886252)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

Going concern
The company has net liabilities of £815,098. The financial statements have been prepared on the going concern basis, which assumes the company will continue in operational existence for the foreseeable future as the directors have provided assurances that they will continue to support the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2022 - 41 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 72,831
Additions 515
At 31 December 2023 73,346
DEPRECIATION
At 1 January 2023 71,848
Charge for year 823
At 31 December 2023 72,671
NET BOOK VALUE
At 31 December 2023 675
At 31 December 2022 983

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 116,838 19,949
Other debtors 68,220 -
185,058 19,949

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 5,514 5,514
Trade creditors 17,224 35,041
Taxation and social security 73,244 62,726
Other creditors 898,956 602,360
994,938 705,641

PHF SERVICES LIMITED (REGISTERED NUMBER: 04886252)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Bank loans 29,868 35,382
Other creditors 182,144 188,920
212,012 224,302

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,812 13,326
Other loans more 5yrs instal 32,000 -
39,812 13,326

Funding Circle have a personal guarantee from the directors and a shareholder, Mr John Webb, with respect to a loan of £188,920 included within other creditors.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
10,413 Ordinary 1 10,493 10,493
1,344 Preferred ordinary 1 1,344 1,344
11,837 11,837

9. OTHER FINANCIAL COMMITMENTS

The company has commitments due as follows:20232022
££
Within one year1,7711,600

1,7711,600