EP PHILPOTT LIMITED
Balance Sheet
as at 31 August 2024
Notes 2024
£
Fixed assets
Tangible assets 4 367,295
367,295
Current assets
Debtors 5 621
Cash at bank and in hand 6,281
6,902
Creditors: amounts falling due within one year 6 (5,944)
Net current assets 958
Total assets less current liabilities 368,253
Creditors: amounts falling due after more than one year 7 (367,295)
Net assets 958
Capital and reserves
Called up share capital 2
Profit and loss account 956
Shareholders' funds 958
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MRS. S.L. TURNER
Director
Approved by the board on 15 May 2025
EP PHILPOTT LIMITED
Notes to the Accounts
for the period from 31 August 2023 to 31 August 2024
1 Comparative figures
These are the first accounts since incorporation and there are accordingly no comparative figures.
2 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.
Freehold land and buildings 0% reducing balance basis
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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. Current and deferred tax assets and liabilities are not discounted.
3 Employees 2024
Number
Average number of persons employed by the company 2
4 Tangible fixed assets
Land and buildings
£
Cost
At 31 August 2023 -
Additions 367,295
At 31 August 2024 367,295
Depreciation
At 31 August 2024 -
Net book value
At 31 August 2024 367,295
At 30 August 2023 -
5 Debtors 2024
£
Prepayments 621
6 Creditors: amounts falling due within one year 2024
£
Trade creditors 630
Corporation tax 320
Director's loan account 4,994
5,944
7 Creditors: amounts falling due after one year 2024
£
Director's loan account 367,295
8 Controlling party
Mr. B.J. Proctor and Mrs. S.L. Turner, each own 50% of the issued share capital of the company.
9 Other information
EP PHILPOTT LIMITED is a private company limited by shares and incorporated in England (Company Number 15106626). Its registered office is Unit G4-G5 Trentham Business Quarter, Bellringer Road, Trentham,Stoke-on-Trent, Staffs., ST4 8GB.
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