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Company Registration No. 11404474 (England and Wales)
Phillips Schroeder Surety Limited Unaudited accounts for the year ended 31 December 2024
Phillips Schroeder Surety Limited Unaudited accounts Contents
Page
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Phillips Schroeder Surety Limited Company Information for the year ended 31 December 2024
Director
Richard Phillips
Secretary
Richard Phillips
Company Number
11404474 (England and Wales)
Registered Office
67 Alresford Road Winchester Hampshire SO23 0LA England
Accountants
Woods Russell Limited First Floor Unit S Loddon Business Centre Roentgen Road Basingstoke RG24 8NG
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Phillips Schroeder Surety Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
25,353 
33,804 
Current assets
Debtors
292,215 
302,447 
Cash at bank and in hand
683,086 
252,876 
975,301 
555,323 
Creditors: amounts falling due within one year
(267,851)
(208,850)
Net current assets
707,450 
346,473 
Total assets less current liabilities
732,803 
380,277 
Provisions for liabilities
Deferred tax
(6,338)
- 
Net assets
726,465 
380,277 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
725,465 
379,277 
Shareholders' funds
726,465 
380,277 
For the year 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 members have 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 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 and authorised for issue on 5 March 2025 and were signed on its behalf by
Richard Phillips Director Company Registration No. 11404474
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Phillips Schroeder Surety Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Phillips Schroeder Surety Limited is a private company, limited by shares, registered in England and Wales, registration number 11404474. The registered office is 67 Alresford Road, Winchester, Hampshire, SO23 0LA, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Motor vehicles
25% Reducing balance
Computer equipment
25% Reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Phillips Schroeder Surety Limited Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2024
41,868 
4,590 
46,458 
At 31 December 2024
41,868 
4,590 
46,458 
Depreciation
At 1 January 2024
10,467 
2,187 
12,654 
Charge for the year
7,850 
601 
8,451 
At 31 December 2024
18,317 
2,788 
21,105 
Net book value
At 31 December 2024
23,551 
1,802 
25,353 
At 31 December 2023
31,401 
2,403 
33,804 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
290,371 
300,000 
Accrued income and prepayments
1,844 
2,447 
292,215 
302,447 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
8,202 
2,029 
Taxes and social security
141,965 
92,494 
Other creditors
3,051 
1,830 
Loans from directors
113,625 
111,489 
Accruals
1,008 
1,008 
267,851 
208,850 
7
Average number of employees
During the year the average number of employees was 3 (2023: 2).
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