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Registration number: 08933539

Phil Miles Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Phil Miles Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Phil Miles Limited

Company Information

Director

Mr Phil Miles

Registered office

Milestones
The Hollow, Wylye Road
Hanging Langford
Salisbury
Wiltshire
SP3 4NN

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Spencer House
6 Morston Court
Aisecome Way
Weston-super-Mare
North Somerset
BS22 8NG

 

Phil Miles Limited

(Registration number: 08933539)
Balance Sheet
31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

2,015

2,244

Current assets

 

Debtors

5

2,129

-

Cash at bank and in hand

 

15,712

30,531

 

17,841

30,531

Creditors: Amounts falling due within one year

6

(26,164)

(32,513)

Net current liabilities

 

(8,323)

(1,982)

Net (liabilities)/assets

 

(6,308)

262

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(6,309)

261

Shareholders' (deficit)/funds

 

(6,308)

262

 

Phil Miles Limited

(Registration number: 08933539)
Balance Sheet
31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the director on 25 June 2025
 

.........................................
Mr Phil Miles
Director

 

Phil Miles Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Milestones
The Hollow, Wylye Road
Hanging Langford
Salisbury
Wiltshire
SP3 4NN
England

These financial statements were authorised for issue by the director on 25 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Although shareholders funds show a negative balance at the year end, the accounts are prepared on a going concern basis in the light of the continued support of the directors and the company's bankers.

 

Phil Miles Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% Reducing Balance

Plant and machinery

25% Reducing Balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Phil Miles Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2025

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2024

4,405

2,498

6,903

Additions

-

599

599

At 31 March 2025

4,405

3,097

7,502

Depreciation

At 1 April 2024

3,011

1,648

4,659

Charge for the year

349

479

828

At 31 March 2025

3,360

2,127

5,487

Carrying amount

At 31 March 2025

1,045

970

2,015

At 31 March 2024

1,394

850

2,244

 

Phil Miles Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2025

5

Debtors

2025
£

2024
£

Trade debtors

1,751

-

Other debtors

378

-

2,129

-

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

-

378

Accruals and deferred income

685

714

Other creditors

25,479

31,421

26,164

32,513