2023-09-012024-08-312024-08-31false01770698PHI Design 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PHI Design Limited

Registered Number
01770698
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

PHI Design Limited
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

COOPER, Roger Martin
NUNN, Robert Charles

Company Secretary

COOPER, Roger Martin

Registered Address

Chestnut Field House
Chestnut Field
Rugby
CV21 2PD

Registered Number

01770698 (England and Wales)
PHI Design Limited
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,433,0002,433,000
2,433,0002,433,000
Current assets
Debtors20,90120,637
Cash at bank and on hand390,810465,022
411,711485,659
Creditors amounts falling due within one year4(32,580)(63,918)
Net current assets (liabilities)379,131421,741
Total assets less current liabilities2,812,1312,854,741
Provisions for liabilities5(239,136)(239,136)
Net assets2,572,9952,615,605
Capital and reserves
Called up share capital130130
Share premium59,48959,489
Profit and loss account2,513,3762,555,986
Shareholders' funds2,572,9952,615,605
The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2025, and are signed on its behalf by:
COOPER, Roger Martin
Director
Registered Company No. 01770698
PHI Design Limited
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 September 232,455,63318,7202,474,353
At 31 August 242,455,63318,7202,474,353
Depreciation and impairment
At 01 September 2322,63318,72041,353
At 31 August 2422,63318,72041,353
Net book value
At 31 August 242,433,000-2,433,000
At 31 August 232,433,000-2,433,000
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables28631
Taxation and social security5,4377,486
Other creditors26,85756,401
Total32,58063,918
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)239,136239,136
Total239,136239,136