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REGISTERED NUMBER: 04878699















Financial Statements for the Year Ended 30 September 2024

for

Phillip Davies Construction Limited

Phillip Davies Construction Limited (Registered number: 04878699)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Phillip Davies Construction Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: P B Davies
Mrs D J Davies





SECRETARY: Mrs D J Davies





REGISTERED OFFICE: Bronheulwen
Bettws
Newtown
Powys
SY16 3LF





REGISTERED NUMBER: 04878699





ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

Phillip Davies Construction Limited (Registered number: 04878699)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 389,155 295,842

CURRENT ASSETS
Stocks 36,720 30,750
Debtors 5 673,017 126,528
Cash at bank - 7,160
709,737 164,438
CREDITORS
Amounts falling due within one year 6 498,159 219,823
NET CURRENT ASSETS/(LIABILITIES) 211,578 (55,385 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

600,733

240,457

CREDITORS
Amounts falling due after more than one
year

7

(85,734

)

(59,741

)

PROVISIONS FOR LIABILITIES (97,209 ) (73,863 )
NET ASSETS 417,790 106,853

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 417,788 106,851
SHAREHOLDERS' FUNDS 417,790 106,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

Phillip Davies Construction Limited (Registered number: 04878699)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 June 2025 and were signed on its behalf by:





P B Davies - Director


Phillip Davies Construction Limited (Registered number: 04878699)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Phillip Davies Construction Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Turnover
Turnover represents net measured value of goods and services excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Phillip Davies Construction Limited (Registered number: 04878699)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 683,344
Additions 154,572
Disposals (15,150 )
At 30 September 2024 822,766
DEPRECIATION
At 1 October 2023 387,502
Charge for year 59,417
Eliminated on disposal (13,308 )
At 30 September 2024 433,611
NET BOOK VALUE
At 30 September 2024 389,155
At 30 September 2023 295,842

Phillip Davies Construction Limited (Registered number: 04878699)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2023 216,280
Additions 115,472
At 30 September 2024 331,752
DEPRECIATION
At 1 October 2023 74,221
Charge for year 30,983
At 30 September 2024 105,204
NET BOOK VALUE
At 30 September 2024 226,548
At 30 September 2023 142,059

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 526,774 120,598
Other debtors 146,243 5,930
673,017 126,528

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 37,720 -
Hire purchase contracts 73,708 43,385
Trade creditors 140,881 23,820
Taxation and social security 120,810 10,975
Other creditors 125,040 141,643
498,159 219,823

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 85,734 59,741

Phillip Davies Construction Limited (Registered number: 04878699)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank overdraft 37,720 -
Hire purchase contracts 159,442 103,126
197,162 103,126

The banking facilities provided by HSBC Bank PLC are secured by fixed and floating charges over the undertaking and all property and assets present and future.