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
Phillips Schroeder Surety Limited
Company Information
for the year ended 31 December 2024
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
Phillips Schroeder Surety Limited
Statement of financial position
as at 31 December 2024
Tangible assets
25,353
33,804
Cash at bank and in hand
683,086
252,876
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
Net assets
726,465
380,277
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
Phillips Schroeder Surety Limited
Notes to the Accounts
for the year ended 31 December 2024
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.
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:
Motor vehicles
25% Reducing balance
Computer equipment
25% Reducing balance
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.
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.
Phillips Schroeder Surety Limited
Notes to the Accounts
for the year ended 31 December 2024
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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
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
At 31 December 2024
23,551
1,802
25,353
At 31 December 2023
31,401
2,403
33,804
Amounts falling due within one year
Amounts due from group undertakings etc.
290,371
300,000
Accrued income and prepayments
1,844
2,447
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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
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Average number of employees
During the year the average number of employees was 3 (2023: 2).