IRIS Accounts Production v25.1.3.33 03612349 director 1.9.23 31.8.24 31.8.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh036123492023-08-31036123492024-08-31036123492023-09-012024-08-31036123492022-08-31036123492022-09-012023-08-31036123492023-08-3103612349ns15:EnglandWales2023-09-012024-08-3103612349ns14:PoundSterling2023-09-012024-08-3103612349ns10:Director12023-09-012024-08-3103612349ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3103612349ns10:SmallEntities2023-09-012024-08-3103612349ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3103612349ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3103612349ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3103612349ns10:FullAccounts2023-09-012024-08-3103612349ns10:RegisteredOffice2023-09-012024-08-3103612349ns5:CurrentFinancialInstruments2024-08-3103612349ns5:CurrentFinancialInstruments2023-08-3103612349ns5:ShareCapital2024-08-3103612349ns5:ShareCapital2023-08-3103612349ns5:CapitalRedemptionReserve2024-08-3103612349ns5:CapitalRedemptionReserve2023-08-3103612349ns5:RetainedEarningsAccumulatedLosses2024-08-3103612349ns5:RetainedEarningsAccumulatedLosses2023-08-3103612349ns5:PlantMachinery2023-09-012024-08-3103612349ns5:LandBuildings2023-08-3103612349ns5:PlantMachinery2023-08-3103612349ns5:LandBuildings2023-09-012024-08-3103612349ns5:LandBuildings2024-08-3103612349ns5:PlantMachinery2024-08-3103612349ns5:LandBuildings2023-08-3103612349ns5:PlantMachinery2023-08-3103612349ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3103612349ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-31
REGISTERED NUMBER: 03612349 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Phillips Transport Limited

Phillips Transport Limited (Registered number: 03612349)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Phillips Transport Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: J M Phillips





REGISTERED OFFICE: The Gables
Devauden
Chepstow
Monmouthshire
NP16 6NT





REGISTERED NUMBER: 03612349 (England and Wales)





ACCOUNTANTS: Guilfoyle Sage LLP
21 Gold Tops
Newport
South Wales
NP20 4PG

Phillips Transport Limited (Registered number: 03612349)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 153,966 245,364

CURRENT ASSETS
Debtors 6 - 18,706
Cash at bank 289,471 253,815
289,471 272,521
CREDITORS
Amounts falling due within one year 7 39,505 92,789
NET CURRENT ASSETS 249,966 179,732
TOTAL ASSETS LESS CURRENT
LIABILITIES

403,932

425,096

PROVISIONS FOR LIABILITIES 33,400 38,536
NET ASSETS 370,532 386,560

CAPITAL AND RESERVES
Called up share capital 1 1
Capital redemption reserve 5 5
Retained earnings 370,526 386,554
SHAREHOLDERS' FUNDS 370,532 386,560

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Transport Limited (Registered number: 03612349)

Balance Sheet - continued
31 August 2024


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 director and authorised for issue on 27 May 2025 and were signed by:





J M Phillips - Director


Phillips Transport Limited (Registered number: 03612349)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Phillips Transport 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 15% on cost

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.

Phillips Transport Limited (Registered number: 03612349)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 8 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 169,067 701,718 870,785
Disposals - (701,718 ) (701,718 )
At 31 August 2024 169,067 - 169,067
DEPRECIATION
At 1 September 2023 12,455 612,966 625,421
Charge for year 2,646 - 2,646
Eliminated on disposal - (612,966 ) (612,966 )
At 31 August 2024 15,101 - 15,101
NET BOOK VALUE
At 31 August 2024 153,966 - 153,966
At 31 August 2023 156,612 88,752 245,364

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors - 18,706

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 653 2,371
Taxation and social security 5,530 2,860
Other creditors 33,322 87,558
39,505 92,789

Phillips Transport Limited (Registered number: 03612349)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. CESSATION OF TRADE

The company is in the process of winding up its business and does not anticipate any future trade.