Registration number: 04536973

PHS (Sidmouth) Limited

Contents

Company Information	1
Abridged Balance Sheet	2
Notes to the Unaudited Abridged Financial Statements	3 to 7

PHS (Sidmouth) Limited

Company Information

Director

Mr Paul Martyn Symington

Company secretary

Mrs Julia Claire Symington

Registered office

Wheathill 37 Manstone Lane Sidmouth Devon EX10 9RZ

Accountants

Easterbrook Eaton Limited Chartered AccountantsCosmopolitan House Old Fore Street Sidmouth Devon EX10 8LS

PHS (Sidmouth) Limited

(Registration number: 04536973)
Abridged Balance Sheet as at 31 October 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	29,285	7,456
Current assets
Stocks	5	120	205
Debtors	6	167	60
Cash at bank and in hand		95,472	118,034
		95,759	118,299
Prepayments and accrued income		386	471
Creditors: Amounts falling due within one year		(17,000)	(12,251)
Net current assets		79,145	106,519
Total assets less current liabilities		108,430	113,975
Accruals and deferred income		(1,949)	(1,968)
Net assets		106,481	112,007
Capital and reserves
Called up share capital	7	10	10
Retained earnings		106,471	111,997
Shareholders' funds		106,481	112,007

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 March 2025
 

......................................... Mr Paul Martyn Symington Director

PHS (Sidmouth) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wheathill
37 Manstone Lane
Sidmouth
Devon
EX10 9RZ

These financial statements were authorised for issue by the director on 25 March 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

PHS (Sidmouth) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	10% Reducing Balance Basis
Motor Vehicles	20% Reducing Balance Basis
Office Equipment	10% Reducing Balance Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

PHS (Sidmouth) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

PHS (Sidmouth) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 November 2023	18,993	13,455	32,448
Additions	349	29,128	29,477
Disposals	-	(13,455)	(13,455)
At 31 October 2024	19,342	29,128	48,470
Depreciation
At 1 November 2023	12,693	12,299	24,992
Charge for the year	666	5,826	6,492
Eliminated on disposal	-	(12,299)	(12,299)
At 31 October 2024	13,359	5,826	19,185
Carrying amount
At 31 October 2024	5,983	23,302	29,285
At 31 October 2023	6,300	1,156	7,456

5

Stocks

	2024 £	2023 £
Other inventories	120	205

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Share of £1 each	10	10	10	10

PHS (Sidmouth) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

8	Related party transactions

Transactions with the director

2024	At 1 November 2023 £	Repayments by director £	At 31 October 2024 £
Mr Paul Martyn Symington
Director's Loan Account	7,676	4,736	12,412

2023	At 1 November 2022 £	Repayments by director £	At 31 October 2023 £
Mr Paul Martyn Symington
Director's Loan Account	2,903	4,773	7,676

Director's remuneration

The director's remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	12,480	12,517
Contributions paid to money purchase schemes	20,000	20,000
	32,480	32,517