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REGISTERED NUMBER: 00247416 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2025

for

Phillips & Son (Alton) Limited

Phillips & Son (Alton) Limited (Registered number: 00247416)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Phillips & Son (Alton) Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: Mr J P Ormond
Mrs A D M Ormond
Mrs K A Dinmore
Mrs G L Ormond



SECRETARY: Mr J P Ormond



REGISTERED OFFICE: 328 Chatsworth Avenue
Cosham
Portsmouth
Hampshire
PO6 2UP



REGISTERED NUMBER: 00247416 (England and Wales)



ACCOUNTANTS: Andrew Spencer Associates Limited
Chartered Certified Accountants
328 Chatsworth Avenue
Cosham
Portsmouth
Hampshire
PO6 2UP



BANKERS: Lloyds Bank plc
1st Floor
3 Town Quay
Southampton
Hampshire
SO14 2AQ

Phillips & Son (Alton) Limited (Registered number: 00247416)

Balance Sheet
31 January 2025

31.1.25 31.1.24
Notes £    £   
FIXED ASSETS
Tangible assets 4 64,917 -
Investment property 5 23,632,960 22,537,530
23,697,877 22,537,530

CURRENT ASSETS
Debtors 6 119,037 235,597
Cash at bank 2,277,612 1,115,285
2,396,649 1,350,882
CREDITORS
Amounts falling due within one year 7 (893,592 ) (1,038,479 )
NET CURRENT ASSETS 1,503,057 312,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,200,934

22,849,933

CREDITORS
Amounts falling due after more than one
year

8

(794,026

)

(986,878

)

PROVISIONS FOR LIABILITIES (1,004,416 ) (491,553 )
NET ASSETS 23,402,492 21,371,502

CAPITAL AND RESERVES
Called up share capital 5,076 5,076
Capital redemption reserve 2,354 2,354
Retained earnings 23,395,062 21,364,072
SHAREHOLDERS' FUNDS 23,402,492 21,371,502

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

Phillips & Son (Alton) Limited (Registered number: 00247416)

Balance Sheet - continued
31 January 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by:





Mr J P Ormond - Director


Phillips & Son (Alton) Limited (Registered number: 00247416)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Phillips & Son (Alton) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The financial statements relate to Phillips & Son (Alton) Limited as an individual entity.

Significant judgements and estimates
The key source of judgement and estimation uncertainty is the directors' valuation of investment property, whether for current periods or earlier periods where these are relevant to calculating deferred tax. These valuations are driven by known rental income and market price indications from widely available publications, adjusted where necessary for features specific to individual properties.

Turnover
Turnover comprises the rents received recognised in the period to which the income relates

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 (2024 - 4 ) .

Phillips & Son (Alton) Limited (Registered number: 00247416)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 76,000
At 31 January 2025 76,000
DEPRECIATION
Charge for year 11,083
At 31 January 2025 11,083
NET BOOK VALUE
At 31 January 2025 64,917

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024 22,537,530
Disposals (425,000 )
Revaluations 1,520,430
At 31 January 2025 23,632,960
NET BOOK VALUE
At 31 January 2025 23,632,960
At 31 January 2024 22,537,530

Fair value at 31 January 2025 is represented by:
£   
Valuation in 2025 1,443,431
Valuation in 2023 (160,000 )
Valuation in 2022 1,050,000
Valuation in 2021 (1,662,900 )
Cost 22,962,429
23,632,960

The Investment properties were valued on an open market value basis on 31 January 2025 by Mr John Ormond, a Director of the company .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade debtors 24,023 51,937
Other debtors 95,014 183,660
119,037 235,597

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Bank loans and overdrafts 145,412 264,557
Trade creditors 52 59,783
Taxation and social security 465,270 435,813
Other creditors 282,858 278,326
893,592 1,038,479

Phillips & Son (Alton) Limited (Registered number: 00247416)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.25 31.1.24
£    £   
Bank loans 794,026 986,878

Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 years repayable
by instalments 137,672 313,725
137,672 313,725

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.25 31.1.24
£    £   
Bank loans 939,438 1,251,435

The bank loans are secured by a fixed and floating charge over four of the company's properties