Registered number
08488539
S J Phillips Agri Limited
Filleted Accounts
30 April 2024
S J Phillips Agri Limited
Registered number: 08488539
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 71,512 85,698
Current assets
Stocks 67,520 28,500
Debtors 4 184 10,179
Cash at bank and in hand 8,571 2,476
76,275 41,155
Creditors: amounts falling due within one year 5 (284,844) (247,831)
Net current liabilities (208,569) (206,676)
Total assets less current liabilities (137,057) (120,978)
Creditors: amounts falling due after more than one year 6 (7,587) (9,159)
Net liabilities (144,644) (130,137)
Capital and reserves
Called up share capital 1 1
Profit and loss account (144,645) (130,138)
Shareholder's funds (144,644) (130,137)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S J Phillips
Director
Approved by the board on 27 January 2025
S J Phillips Agri Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The accounts are drawn up on a going concern basis and are dependant upon the continued support of the director of the company. Creditors include an amount owed to the director of £280,394 and as a result the balance sheet shows an insolvent balance of £144,644 at 30 April 2024. The director has indicated that this amount will not be withdrawn from the company in the twelve months following approval of these accounts.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings over 10 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 61,401 133,790 6,400 201,591
Additions - 8,332 - 8,332
Disposals - (9,500) (1,600) (11,100)
At 30 April 2024 61,401 132,622 4,800 198,823
Depreciation
At 1 May 2023 42,981 70,787 2,125 115,893
Charge for the year 6,140 10,588 900 17,628
On disposals - (5,285) (925) (6,210)
At 30 April 2024 49,121 76,090 2,100 127,311
Net book value
At 30 April 2024 12,280 56,532 2,700 71,512
At 30 April 2023 18,420 63,003 4,275 85,698
4 Debtors 2024 2023
£ £
Trade debtors - 5,433
Other debtors 184 4,746
184 10,179
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,000 3,000
Other creditors 281,844 244,831
284,844 247,831
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,587 9,159
7 Other information
S J Phillips Agri Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Wellbrookside
Peterchurch
Herefordshire
HR2 0SR
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