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Company Registration No. 01943550 (England and Wales)
PHILLIPS-TUFTEX LIMITED Unaudited accounts for the year ended 31 December 2024
PHILLIPS-TUFTEX LIMITED Unaudited accounts Contents
Page
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PHILLIPS-TUFTEX LIMITED Company Information for the year ended 31 December 2024
Director
S N Robinson
Company Number
01943550 (England and Wales)
Registered Office
Albion Builldings Attleborough Road Nuneaton Warwickshire CV11 4JJ United Kingdom
Accountants
Mehta Financial Consultants Limited Chartered Certified Accountants 100 Park Crescent Harrow Middlesex HA3 6ET
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PHILLIPS-TUFTEX LIMITED Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
25,088 
29,585 
Investments
2,607 
2,416 
27,695 
32,001 
Current assets
Inventories
1,242,376 
1,324,944 
Debtors
679,541 
496,148 
Cash at bank and in hand
120,037 
398,812 
2,041,954 
2,219,904 
Creditors: amounts falling due within one year
(913,887)
(1,073,574)
Net current assets
1,128,067 
1,146,330 
Total assets less current liabilities
1,155,762 
1,178,331 
Creditors: amounts falling due after more than one year
(78,295)
(131,098)
Net assets
1,077,467 
1,047,233 
Capital and reserves
Called up share capital
8,950 
8,950 
Share premium
1,050 
1,050 
Profit and loss account
1,067,467 
1,037,233 
Shareholders' funds
1,077,467 
1,047,233 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 May 2025 and were signed on its behalf by
S N Robinson Director Company Registration No. 01943550
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PHILLIPS-TUFTEX LIMITED Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
PHILLIPS-TUFTEX LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01943550. The registered office is Albion Builldings, Attleborough Road, Nuneaton, Warwickshire, CV11 4JJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% per annum on reducing balance basis
Fixtures & fittings
15% reducing balance and 25% per annum on straight line basis
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2024
6,500 
205,357 
211,857 
At 31 December 2024
6,500 
205,357 
211,857 
Depreciation
At 1 January 2024
5,301 
176,971 
182,272 
Charge for the year
239 
4,258 
4,497 
At 31 December 2024
5,540 
181,229 
186,769 
Net book value
At 31 December 2024
960 
24,128 
25,088 
At 31 December 2023
1,199 
28,386 
29,585 
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PHILLIPS-TUFTEX LIMITED Notes to the Accounts for the year ended 31 December 2024
5
Investments
Other investments 
£ 
Valuation at 1 January 2024
2,416 
Fair value adjustments
191 
Valuation at 31 December 2024
2,607 
This relates to shares held in Aviva Plc stated at market value.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
445,069 
285,822 
Amounts due from group undertakings etc.
147,717 
134,542 
Accrued income and prepayments
70,351 
63,495 
Other debtors
16,404 
12,289 
679,541 
496,148 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
361,198 
451,881 
VAT
28,978 
66,754 
Trade creditors
388,438 
424,869 
Taxes and social security
85,376 
70,941 
Other creditors
175 
175 
Loans from directors
2,449 
12,450 
Accruals
47,273 
46,504 
913,887 
1,073,574 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
78,295 
131,098 
The above loan relates to Covid 19 Business Interruption Loan which was received in June 2020. The first 12 months are on interest free basis and than 2.5% thereafter. The loan is repayable over 5 years.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
8,950 Ordinary shares of £1 each
8,950 
8,950 
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PHILLIPS-TUFTEX LIMITED Notes to the Accounts for the year ended 31 December 2024
10
Transactions with related parties
Included in debtors within one year is amount £147,580 (2023: £134,542) due from the Parent company. Consultancy fees The company paid £65,840 (2023: £65,840) to Albion Sports Limited, a company in which Mr Simon Robinson has a participating interest.
11
Controlling party
The ultimate parent company is Tuftex Properties Limited, a company registered in England and Wales
12
Average number of employees
During the year the average number of employees was 11 (2023: 12).
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