2023-04-012024-03-312024-03-31false07025086LANDROCK PHILLIPS 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LANDROCK PHILLIPS LIMITED

Registered Number
07025086
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

LANDROCK PHILLIPS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

LANDROCK, Jeremy Neil

Registered Address

The Moorings Brookhill Road
Copthorne
Crawley
RH10 3QL

Registered Number

07025086 (England and Wales)
LANDROCK PHILLIPS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,1391,519
1,1391,519
Current assets
Debtors417,39126,675
Cash at bank and on hand61,67848,237
79,06974,912
Creditors amounts falling due within one year5(49,061)(30,307)
Net current assets (liabilities)30,00844,605
Total assets less current liabilities31,14746,124
Accruals and deferred income(93)(750)
Net assets31,05445,374
Capital and reserves
Called up share capital750750
Other reserves750750
Profit and loss account29,55443,874
Shareholders' funds31,05445,374
The financial statements were approved and authorised for issue by the Director on 26 November 2024, and are signed on its behalf by:
LANDROCK, Jeremy Neil
Director
Registered Company No. 07025086
LANDROCK PHILLIPS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 235059,3949,899
At 31 March 245059,3949,899
Depreciation and impairment
At 01 April 234797,9018,380
Charge for year7373380
At 31 March 244868,2748,760
Net book value
At 31 March 24191,1201,139
At 31 March 23261,4931,519
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables17,39126,675
Total17,39126,675
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables20,8582,996
Taxation and social security11,36614,785
Other creditors16,83712,526
Total49,06130,307