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Phillips Electrical (Commercial) Ltd

Financial Statements for the Year Ended 31 December 2023






Phillips Electrical (Commercial) Ltd (Registered number: 08478793)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Phillips Electrical (Commercial) Ltd

Company Information
for the year ended 31 December 2023







DIRECTOR: Mr G Phillips





REGISTERED OFFICE: 2 Lordship Centre
Howard Drive
Letchworth
Hertfordshire
SG6 2DF





REGISTERED NUMBER: 08478793 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Chartered Certified Accountants
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

Phillips Electrical (Commercial) Ltd (Registered number: 08478793)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 718 957

CURRENT ASSETS
Debtors 5 5,273 3,187
Cash at bank 1,590 986
6,863 4,173
CREDITORS
Amounts falling due within one year 6 29,215 23,375
NET CURRENT LIABILITIES (22,352 ) (19,202 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,634

)

(18,245

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (21,734 ) (18,345 )
(21,634 ) (18,245 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Phillips Electrical (Commercial) Ltd (Registered number: 08478793)

Balance Sheet - continued
31 December 2023


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 20 March 2025 and were signed by:





Mr G Phillips - Director


Phillips Electrical (Commercial) Ltd (Registered number: 08478793)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Phillips Electrical (Commercial) Ltd 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 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 17,000
DEPRECIATION
At 1 January 2023 16,043
Charge for year 239
At 31 December 2023 16,282
NET BOOK VALUE
At 31 December 2023 718
At 31 December 2022 957

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,273 3,187

Phillips Electrical (Commercial) Ltd (Registered number: 08478793)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
PAYE 1,648 794
Other creditors 19,210 19,296
Directors' current accounts 7,357 2,285
Accrued expenses 1,000 1,000
29,215 23,375