IRIS Accounts Production v24.3.2.46 10055785 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh100557852023-03-31100557852024-03-31100557852023-04-012024-03-31100557852022-03-31100557852022-04-012023-03-31100557852023-03-3110055785ns15:EnglandWales2023-04-012024-03-3110055785ns14:PoundSterling2023-04-012024-03-3110055785ns10:Director12023-04-012024-03-3110055785ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3110055785ns10:SmallEntities2023-04-012024-03-3110055785ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3110055785ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3110055785ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110055785ns10:FullAccounts2023-04-012024-03-3110055785ns5:CurrentFinancialInstruments2024-03-3110055785ns5:CurrentFinancialInstruments2023-03-3110055785ns5:Non-currentFinancialInstruments2024-03-3110055785ns5:Non-currentFinancialInstruments2023-03-3110055785ns5:ShareCapital2024-03-3110055785ns5:ShareCapital2023-03-3110055785ns5:RetainedEarningsAccumulatedLosses2024-03-3110055785ns5:RetainedEarningsAccumulatedLosses2023-03-3110055785ns10:RegisteredOffice2023-04-012024-03-3110055785ns5:PlantMachinery2023-04-012024-03-3110055785ns5:PlantMachinery2023-03-3110055785ns5:PlantMachinery2024-03-3110055785ns5:PlantMachinery2023-03-3110055785ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3110055785ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3110055785ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3110055785ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3110055785ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3110055785ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3110055785ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-03-3110055785ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-03-3110055785ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3110055785ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3110055785ns5:HirePurchaseContracts2024-03-3110055785ns5:HirePurchaseContracts2023-03-3110055785ns5:WithinOneYear2024-03-3110055785ns5:WithinOneYear2023-03-3110055785ns5:BetweenOneFiveYears2024-03-3110055785ns5:BetweenOneFiveYears2023-03-3110055785ns5:AllPeriods2024-03-3110055785ns5:AllPeriods2023-03-31
REGISTERED NUMBER: 10055785 (England and Wales)



















PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 233,775 126,474

CURRENT ASSETS
Stocks 60,000 60,000
Debtors 5 101,422 148,971
Cash at bank 559,536 342,923
720,958 551,894
CREDITORS
Amounts falling due within one year 6 487,331 460,021
NET CURRENT ASSETS 233,627 91,873
TOTAL ASSETS LESS CURRENT
LIABILITIES

467,402

218,347

CREDITORS
Amounts falling due after more than one
year

7

(59,017

)

(68,740

)

PROVISIONS FOR LIABILITIES (58,444 ) (24,030 )
NET ASSETS 349,941 125,577

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 349,841 125,477
SHAREHOLDERS' FUNDS 349,941 125,577

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2025 and were signed on its behalf by:





D K Phillips - Director


PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Phillips Building & Property Maintenance Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10055785

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The director has a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 10% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 265,336
Additions 166,035
Disposals (56,700 )
At 31 March 2024 374,671
DEPRECIATION
At 1 April 2023 138,862
Charge for year 46,840
Eliminated on disposal (44,806 )
At 31 March 2024 140,896
NET BOOK VALUE
At 31 March 2024 233,775
At 31 March 2023 126,474

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 195,598
Additions 56,748
Disposals (12,200 )
Transfer to ownership (95,657 )
At 31 March 2024 144,489
DEPRECIATION
At 1 April 2023 89,220
Charge for year 36,789
Eliminated on disposal (7,483 )
Transfer to ownership (72,390 )
At 31 March 2024 46,136
NET BOOK VALUE
At 31 March 2024 98,353
At 31 March 2023 106,378

PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 47,457 95,116
Other debtors 53,965 53,855
101,422 148,971

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,104 9,970
Hire purchase contracts (see note 8) 39,644 33,447
Trade creditors 94,051 108,710
Taxation and social security 159,288 114,931
Other creditors 184,244 192,963
487,331 460,021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 11,560 21,701
Hire purchase contracts (see note 8) 47,457 47,039
59,017 68,740

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 39,644 33,447
Between one and five years 47,457 47,039
87,101 80,486

Non-cancellable operating leases
2024 2023
£    £   
Within one year 1,736 10,419
Between one and five years - 1,736
1,736 12,155

PHILLIPS BUILDING & PROPERTY MAINTENANCE
LIMITED (REGISTERED NUMBER: 10055785)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 87,101 80,486

10. OTHER FINANCIAL COMMITMENTS

The company operates a workplace pension scheme, whereby both the employee and the company make monthly contributions. Contributions of £232 (2023 - £212) were owed to the fund at the year end.

11. RELATED PARTY DISCLOSURES

At the year end, the company owed the directors £94,924 (2023 - £146,739). This unsecured loan is included in
creditors. It is repayable on demand and interest is charged at 0%.

At the year end, a company under common control and directorship, owed £51,540 (2023 - £51,540). This unsecured loan is included in other debtors.