Company Registration No. 10765938 (England and Wales)
Philip Homes Limited
Unaudited accounts
for the year ended 31 May 2024
Philip Homes Limited
Unaudited accounts
Contents
Philip Homes Limited
Company Information
for the year ended 31 May 2024
Directors
Philippa Ellis
Paul Ellis
Company Number
10765938 (England and Wales)
Registered Office
C/O BATESONS 2 STATHAM COURT
STATHAM STREET
MACCLESFIELD
CHESHIRE
SK11 6XN
ENGLAND
Accountants
Batesons Management Services Ltd
2 Statham Court
Statham Street
Macclesfield
Cheshire
SK11 6XN
Philip Homes Limited
Statement of financial position
as at 31 May 2024
Tangible assets
10,778
12,501
Inventories
761,708
605,685
Cash at bank and in hand
36,300
177,130
Creditors: amounts falling due within one year
(1,470)
(1,556)
Net current assets
798,801
792,767
Total assets less current liabilities
809,579
805,268
Creditors: amounts falling due after more than one year
(808,466)
(823,829)
Provisions for liabilities
Net assets/(liabilities)
568
(18,561)
Called up share capital
100
100
Profit and loss account
468
(18,661)
Shareholders' funds
568
(18,561)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by
Paul Ellis
Director
Company Registration No. 10765938
Philip Homes Limited
Notes to the Accounts
for the year ended 31 May 2024
Philip Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 10765938. The registered office is C/O BATESONS 2 STATHAM COURT, STATHAM STREET, MACCLESFIELD, CHESHIRE, SK11 6XN, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance basis
Motor vehicles
25% reducing balance basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Philip Homes Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2023
11,404
10,500
21,904
At 31 May 2024
11,955
10,500
22,455
At 1 June 2023
2,225
7,178
9,403
Charge for the year
1,444
830
2,274
At 31 May 2024
3,669
8,008
11,677
At 31 May 2024
8,286
2,492
10,778
At 31 May 2023
9,179
3,322
12,501
Amounts falling due within one year
Deferred tax asset
-
4,089
Accrued income and prepayments
1,540
5,245
6
Creditors: amounts falling due within one year
2024
2023
7
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
808,466
823,829
8
Deferred taxation
2024
2023
Accelerated capital allowances
545
(4,089)
Provision at start of year
(4,089)
(2,490)
Charged/(credited) to the profit and loss account
4,634
(1,599)
Provision at end of year
545
(4,089)
Philip Homes Limited
Notes to the Accounts
for the year ended 31 May 2024
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).