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REGISTERED NUMBER: SC568520 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

PH & G Ltd

PH & G Ltd (Registered number: SC568520)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


PH & G Ltd (Registered number: SC568520)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 20,627 25,979

CURRENT ASSETS
Debtors 5 7,160 391
Cash at bank 376 310
7,536 701
CREDITORS
Amounts falling due within one year 6 (14,083 ) (6,646 )
NET CURRENT LIABILITIES (6,547 ) (5,945 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,080

20,034

CREDITORS
Amounts falling due after more than one
year

7

(10,144

)

(15,033

)

PROVISIONS FOR LIABILITIES (3,919 ) (4,936 )
NET ASSETS 17 65

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 16 64
17 65

PH & G Ltd (Registered number: SC568520)

Balance Sheet - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 22 January 2025 and were signed by:





Mr W Fotheringham - Director


PH & G Ltd (Registered number: SC568520)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

P H & G Ltd is a private company, limited by shares, domiciled in Scotland. The registration number is SC568520. The registered office is 18 Montgomery Street, Grangemouth, Stirlingshire, FK3 8QN.

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.

Turnover
Turnover represents net invoiced sales of services in respect of plumbing and heating services, including value added tax. Sales are recognised at the point at which the service is complete.

Tangible fixed assets and depreciation
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 - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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 that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax 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.

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.

PH & G Ltd (Registered number: SC568520)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 32,355
Additions 1,235
At 30 June 2024 33,590
DEPRECIATION
At 1 July 2023 6,376
Charge for year 6,587
At 30 June 2024 12,963
NET BOOK VALUE
At 30 June 2024 20,627
At 30 June 2023 25,979

PH & G Ltd (Registered number: SC568520)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 23,444
DEPRECIATION
At 1 July 2023 1,879
Charge for year 5,391
At 30 June 2024 7,270
NET BOOK VALUE
At 30 June 2024 16,174
At 30 June 2023 21,565

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 7,160 391

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 1,800 1,800
Hire purchase contracts 3,089 3,089
Trade creditors 4,727 467
Taxation and social security 4,467 (20 )
Other creditors - 1,310
14,083 6,646

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 1,650 3,450
Hire purchase contracts 8,494 11,583
10,144 15,033

PH & G Ltd (Registered number: SC568520)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
Mr W Fotheringham
Balance outstanding at start of year - -
Amounts advanced 5,210 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,210 -