Company Registration No. 09958860 (England and Wales)
M G Phillips Holdings Limited
Unaudited accounts
for the year ended 31 January 2024
M G Phillips Holdings Limited
Unaudited accounts
Contents
M G Phillips Holdings Limited
Company Information
for the year ended 31 January 2024
Company Number
09958860 (England and Wales)
Registered Office
NEWCASTLE HOUSE OLIVER CLOSE
WEST THURROCK
GRAYS
ESSEX
RM20 3EE
ENGLAND
M G Phillips Holdings Limited
Statement of financial position
as at 31 January 2024
Tangible assets
1,346,170
1,367,427
Cash at bank and in hand
103
9,073
Creditors: amounts falling due within one year
(57,842)
(145,736)
Net current assets
442,261
466,264
Total assets less current liabilities
1,788,431
1,833,691
Creditors: amounts falling due after more than one year
(1,377,197)
(1,449,111)
Net assets
411,234
384,580
Called up share capital
100
100
Profit and loss account
411,134
384,480
Shareholders' funds
411,234
384,580
For the year ending 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 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 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.
The financial statements were approved by the Board and authorised for issue on 8 May 2024 and were signed on its behalf by
Matthew Phillips
Director
Company Registration No. 09958860
M G Phillips Holdings Limited
Notes to the Accounts
for the year ended 31 January 2024
M G Phillips Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 09958860. The registered office is NEWCASTLE HOUSE OLIVER CLOSE, WEST THURROCK, GRAYS, ESSEX, RM20 3EE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Reducing Balance
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 February 2023
1,154,850
400,000
1,554,850
At 31 January 2024
1,154,850
400,000
1,554,850
At 1 February 2023
-
187,423
187,423
Charge for the year
-
21,257
21,257
At 31 January 2024
-
208,680
208,680
At 31 January 2024
1,154,850
191,320
1,346,170
At 31 January 2023
1,154,850
212,577
1,367,427
Amounts falling due within one year
Amounts falling due after more than one year
Other debtors
500,000
500,000
M G Phillips Holdings Limited
Notes to the Accounts
for the year ended 31 January 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
57,842
145,736
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,098,334
933,761
Other creditors
278,863
515,350
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).