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REGISTERED NUMBER: 01353917 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

PHILIP PHILLIPS & COMPANY LIMITED

PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

PHILIP PHILLIPS & COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: P A M Phillips
J Phillips





SECRETARY: S A M Englander





REGISTERED OFFICE: 1 Brampton Lane
HENDON
London
NW4 4AB





REGISTERED NUMBER: 01353917 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH

PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,207 1,420
Investments 5 28,939 28,793
30,146 30,213

CURRENT ASSETS
Stocks 183,176 180,000
Debtors 6 8,407 13,947
Cash at bank 6,013 16,230
197,596 210,177
CREDITORS
Amounts falling due within one year 7 127,541 107,550
NET CURRENT ASSETS 70,055 102,627
TOTAL ASSETS LESS CURRENT LIABILITIES 100,201 132,840

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 201 32,840
SHAREHOLDERS' FUNDS 100,201 132,840

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 directors acknowledge their 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





P A M Phillips - Director


PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Philip Phillips & Company 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 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, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value.


Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

PHILIP PHILLIPS & COMPANY LIMITED (REGISTERED NUMBER: 01353917)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Office and
equipment fittings Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 15,825 4,962 20,787
DEPRECIATION
At 1 July 2023 14,573 4,794 19,367
Charge for year 188 25 213
At 30 June 2024 14,761 4,819 19,580
NET BOOK VALUE
At 30 June 2024 1,064 143 1,207
At 30 June 2023 1,252 168 1,420

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Timeshares 109,855 109,709
Timeshare lapsed, written off (80,916 ) (80,916 )
28,939 28,793

The Company's investments in Timeshares are stated at cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 8,407 13,947

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 782 818
Other creditors 126,759 106,732
127,541 107,550

8. RELATED PARTY DISCLOSURES

Included in Debtors are the following balances owed by related companies: Crossmill Securities Ltd £5,000 (2023: £:5,000).

Included in Creditors are the following balances due to related companies: Management Investments Ltd £38,789 (2023: £13,458) and Kirphil Ltd £43,242 (2023:£83,000), PP Investments Ltd £11,500, companies in which the directors P A M Phillips and J Phillips are shareholders.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PHILIP PHILLIPS & COMPANY LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Philip Phillips & Company Limited for the year ended 30 June 2024 which comprise the Profit and Loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Philip Phillips & Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Philip Phillips & Company Limited and state those matters that we have agreed to state to the Board of Directors of Philip Phillips & Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Philip Phillips & Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Philip Phillips & Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Philip Phillips & Company Limited. You consider that Philip Phillips & Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Philip Phillips & Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH


25 March 2025