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PHG ASSET HOLDINGS LTD

Registered Number
10155506
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

PHG ASSET HOLDINGS LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

Sandra Helen Hope
Steven Alan Hope

Company Secretary

Sandra Hope

Registered Address

Church View
Crowthorne Road
Bracknell
RG12 7EN

Registered Number

10155506 (England and Wales)
PHG ASSET HOLDINGS LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,9662,458
Investment property4660,514660,514
662,480662,972
Current assets
Debtors2,555535
Cash at bank and on hand13,98310,221
16,53810,756
Creditors amounts falling due within one year5(242,964)(238,134)
Net current assets (liabilities)(226,426)(227,378)
Total assets less current liabilities436,054435,594
Creditors amounts falling due after one year6(215,743)(215,743)
Provisions for liabilities9(68,729)(52,234)
Net assets151,582167,617
Capital and reserves
Called up share capital200200
Profit and loss account151,382167,417
Shareholders' funds151,582167,617
The financial statements were approved and authorised for issue by the Board of Directors on 25 January 2025, and are signed on its behalf by:
Sandra Helen Hope
Director
Registered Company No. 10155506
PHG ASSET HOLDINGS LTD
Notes to the Financial Statements
for the year ended 30 April 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 rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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.
Deferred tax
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.
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 (%)
Fixtures and fittings20
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 May 237,5007,500
At 30 April 247,5007,500
Depreciation and impairment
At 01 May 235,0425,042
Charge for year492492
At 30 April 245,5345,534
Net book value
At 30 April 241,9661,966
At 30 April 232,4582,458
4.Investment property
Investment property comprises of Freehold Property and Land. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

£
Fair value at 01 May 23660,514
At 30 April 24660,514
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables22,21426,572
Other creditors213,565210,602
Accrued liabilities and deferred income7,185960
Total242,964238,134
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts215,743215,743
Total215,743215,743
7.Creditors: amounts due after 5 years
The bank loans and overdrafts are due after five years and are not payable by instalments.
8.Secured creditors
The creditors due over more than one year are secured by a fixed charge over the investment properties of the company.
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)68,72952,234
Total68,72952,234