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REGISTERED NUMBER: 14303629 (England and Wales)









PHILIP HILL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024






PHILIP HILL LIMITED (REGISTERED NUMBER: 14303629)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHILIP HILL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2024







DIRECTOR: M Hill





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 14303629 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

PHILIP HILL LIMITED (REGISTERED NUMBER: 14303629)

BALANCE SHEET
5 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,091,355 961,000

CURRENT ASSETS
Debtors 5 10,850 14,437
Cash at bank 13,156 1,781
24,006 16,218
CREDITORS
Amounts falling due within one year 6 518,555 358,410
NET CURRENT LIABILITIES (494,549 ) (342,192 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

596,806

618,808

CREDITORS
Amounts falling due after more than one
year

7

680,760

680,760
NET LIABILITIES (83,954 ) (61,952 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (84,054 ) (62,052 )
SHAREHOLDERS' FUNDS (83,954 ) (61,952 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PHILIP HILL LIMITED (REGISTERED NUMBER: 14303629)

BALANCE SHEET - continued
5 APRIL 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 March 2025 and were signed by:





M Hill - Director


PHILIP HILL LIMITED (REGISTERED NUMBER: 14303629)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1. STATUTORY INFORMATION

Philip Hill Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents rent receivable for the period, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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 shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

3. EMPLOYEES AND DIRECTORS

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

PHILIP HILL LIMITED (REGISTERED NUMBER: 14303629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2023 961,000
Additions 142,780
Revaluations (12,425 )
At 5 April 2024 1,091,355
NET BOOK VALUE
At 5 April 2024 1,091,355
At 5 April 2023 961,000

Fair value at 5 April 2024 is represented by:
£   
Valuation in 2023 (44,933 )
Valuation in 2024 (12,425 )
Cost 1,148,713
1,091,355

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 10,850 14,437

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 42,165 42,165
Other creditors 476,390 316,245
518,555 358,410

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 680,760 680,760

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 722,925 722,925

PHILIP HILL LIMITED (REGISTERED NUMBER: 14303629)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100