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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

P PHILLIPS CONTRACTORS LIMITED

P PHILLIPS CONTRACTORS LIMITED (REGISTERED NUMBER: 05907464)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P PHILLIPS CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: P J Phillips
W J Phillips





SECRETARY: Mrs P Grigor





REGISTERED OFFICE: C/O Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT





REGISTERED NUMBER: 05907464 (England and Wales)





ACCOUNTANTS: Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT

P PHILLIPS CONTRACTORS LIMITED (REGISTERED NUMBER: 05907464)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 293,580 294,607
293,580 294,607

CURRENT ASSETS
Stocks 184,943 95,036
Debtors 6 209,487 145,137
Cash at bank 80,144 76,956
474,574 317,129
CREDITORS
Amounts falling due within one year 7 252,904 178,406
NET CURRENT ASSETS 221,670 138,723
TOTAL ASSETS LESS CURRENT
LIABILITIES

515,250

433,330

CREDITORS
Amounts falling due after more than one
year

8

50,991

29,431
NET ASSETS 464,259 403,899

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 463,259 402,899
SHAREHOLDERS' FUNDS 464,259 403,899

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

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

P PHILLIPS CONTRACTORS LIMITED (REGISTERED NUMBER: 05907464)

BALANCE SHEET - continued
30TH 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 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 11th June 2025 and were signed on its behalf by:





P J Phillips - Director


P PHILLIPS CONTRACTORS LIMITED (REGISTERED NUMBER: 05907464)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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, 20% on reducing balance and 10% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 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.

P PHILLIPS CONTRACTORS LIMITED (REGISTERED NUMBER: 05907464)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH 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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st October 2023
and 30th September 2024 111,404
AMORTISATION
At 1st October 2023
and 30th September 2024 111,404
NET BOOK VALUE
At 30th September 2024 -
At 30th September 2023 -

P PHILLIPS CONTRACTORS LIMITED (REGISTERED NUMBER: 05907464)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2023 823,890
Additions 75,845
Disposals (41,231 )
At 30th September 2024 858,504
DEPRECIATION
At 1st October 2023 529,283
Charge for year 62,342
Eliminated on disposal (26,701 )
At 30th September 2024 564,924
NET BOOK VALUE
At 30th September 2024 293,580
At 30th September 2023 294,607

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

Plant and
machinery
etc
£   
COST
At 1st October 2023 148,540
Additions 49,000
Transfer to ownership (112,050 )
At 30th September 2024 85,490
DEPRECIATION
At 1st October 2023 80,235
Charge for year 13,253
Transfer to ownership (67,754 )
At 30th September 2024 25,734
NET BOOK VALUE
At 30th September 2024 59,756
At 30th September 2023 68,305

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 132,007 56,208
Other debtors 77,480 88,929
209,487 145,137

P PHILLIPS CONTRACTORS LIMITED (REGISTERED NUMBER: 05907464)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 35,390 9,943
Hire purchase contracts 13,671 18,661
Trade creditors 84,502 85,891
Taxation and social security 108,431 54,111
Other creditors 10,910 9,800
252,904 178,406

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,218 22,426
Hire purchase contracts 38,773 7,005
50,991 29,431