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Registered number: 06982632
PHB (GB) Limited
Unaudited Financial Statements
For the Period 1 April 2024 to 31 December 2024
AGM Financial Ltd
Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06982632
31 December 2024 31 March 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 (430 ) 106,851
(430 ) 106,851
CURRENT ASSETS
Stocks - 17,588
Debtors 5 78,443 28,465
Cash at bank and in hand 484,405 371,149
562,848 417,202
Creditors: Amounts Falling Due Within One Year 6 (62,399 ) (43,564 )
NET CURRENT ASSETS (LIABILITIES) 500,449 373,638
TOTAL ASSETS LESS CURRENT LIABILITIES 500,019 480,489
NET ASSETS 500,019 480,489
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 499,919 480,389
SHAREHOLDERS' FUNDS 500,019 480,489
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For the period ending 31 December 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 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.
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
Mr Philip Hickson
Director
10 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
PHB (GB) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06982632 . The registered office is 2 Clumber Grove, Newcastle-under-Lyme, Staffordshire, ST5 3AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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% Reducing balance
Fixtures & Fittings 15% Reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred 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 and deferred 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 period was: 1 (2024: 1)
1 1
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2024 170,054 9,167 179,221
Additions 86,022 - 86,022
Disposals (256,076 ) (9,167 ) (265,243 )
As at 31 December 2024 - - -
Depreciation
As at 1 April 2024 67,015 5,355 72,370
Provided during the period - 430 430
Disposals (67,015 ) (5,355 ) (72,370 )
As at 31 December 2024 - 430 430
Net Book Value
As at 31 December 2024 - (430 ) (430 )
As at 1 April 2024 103,039 3,812 106,851
5. Debtors
31 December 2024 31 March 2024
£ £
Due within one year
Trade debtors - 18,782
Other debtors - 9,683
Director's loan account 78,443 -
78,443 28,465
6. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 March 2024
£ £
Trade creditors (1 ) 2,520
Corporation tax 47,168 14,894
VAT 14,181 3,658
Other creditors - 1,171
Accruals and deferred income 1,051 4,572
Director's loan account - 16,749
62,399 43,564
7. Share Capital
31 December 2024 31 March 2024
£ £
Allotted, Called up and fully paid 100 100
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8. Post Balance Sheet Events
On 22 January 2025, the Company entered into a Members Voluntary Liquidation. The overdrawn director's loan account will be cleared by a distribution in specie of company assets.
9. Ultimate Controlling Party
The company's ultimate controlling party is Mr P Hickson by virtue of his ownership of 100% of the issued share capital in the company.
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