Registered number
02470818
Year end:
30 September 2024
PHILLIPSON MOSS LIMITED
UNAUDITED FILLETED ACCOUNTS
FOR THE YEAR
ENDED 30 SEPTEMBER 2024
PHILLIPSON MOSS LIMITED
Registered number: 02470818
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
FIXED ASSETS
Tangible assets 3 4,693 4,700
CURRENT ASSETS
Debtors 4 24,786 19,929
Cash at bank and in hand 2,761 6,057
27,547 25,986
CREDITORS: amounts falling due within one year 5 (46,543) (38,564)
NET CURRENT LIABILITIES (18,996) (12,578)
NET LIABILITIES £ (14,303) £ (7,878)
CAPITAL AND RESERVES
Called up share capital 150 150
Profit and loss account (14,453) (8,028)
SHAREHOLDER'S FUNDS £ (14,303) £ (7,878)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account is not delivered to Companies House.
Mr J R Phillipson
Director
Approved by the board on 23 June 2025
PHILLIPSON MOSS LIMITED
Notes to the Accounts
for the year ended 30 September 2024
1 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 receivable, net of discounts and value added taxes. Turnover from the sale of any goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office furniture and equipment 20% p.a. on a reducing balance basis
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on a non-discounted basis at the tax rates which are expected to apply in the periods when the timing differences are expected to reverse.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are charged to the profit and loss account in the period in which they are paid.
PHILLIPSON MOSS LIMITED
Notes to the Accounts
for the year ended 30 September 2024
2 EMPLOYEES 2024 2023
Number Number
Average number of persons employed by the company 2 3
(excluding directors with no specific service contract)
3 TANGIBLE FIXED ASSETS
Office Furniture and Equipment
£
Cost
At 1 October 2023 16,636
Additions 1,166
At 30 September 2024 17,802
Depreciation
At 1 October 2023 11,936
Charge for the year 1,173
At 30 September 2024 13,109
Net book value
At 30 September 2024 £ 4,693
At 30 September 2023 £ 4,700
4 DEBTORS 2024 2023
£ £
Trade debtors 4,990 1,380
Deferred tax asset 15,896 14,649
Other debtors 3,900 3,900
£ 24,786 £ 19,929
Amounts due after more than one year included above £ 15,896 £ 14,649
The deferred tax asset is expected to be recoverable over a period exceeding 12 months
and is therefore included within debtors due after more than one year.
PHILLIPSON MOSS LIMITED
Notes to the Accounts
for the year ended 30 September 2024
5 CREDITORS: amounts falling due within one year 2024 2023
£ £
Corporation tax - -
Other taxes and social security costs 1,168 926
Director's loan account - Mr J R Phillipson 40,846 31,510
Other creditors 4,529 6,128
£ 46,543 £ 38,564
6 OTHER INFORMATION
Phillipson Moss Limited is a private company limited by shares and incorporated in England. Its registered office is:
Titsey Estate Office
Pilgrims Lane
Oxted
Surrey
RH8 0SE
The accounts are for the individual company and are presented in Sterling which is the functional currency of the company.
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