| REGISTERED NUMBER: |
| STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD |
| REGISTERED NUMBER: |
| STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Directors | 3 |
| Report of the Independent Auditors | 5 |
| Income Statement | 8 |
| Other Comprehensive Income | 9 |
| Balance Sheet | 10 |
| Statement of Changes in Equity | 11 |
| Cash Flow Statement | 12 |
| Notes to the Cash Flow Statement | 13 |
| Notes to the Financial Statements | 14 |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD |
| COMPANY INFORMATION |
| for the year ended 31 March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants and Statutory Auditor |
| Highdown House |
| 11 Highdown Road |
| Leamington Spa |
| Warwickshire |
| CV31 1XT |
| BANKERS: |
| 55 Temple Row |
| Birmingham |
| B2 5LS |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| STRATEGIC REPORT |
| for the year ended 31 March 2025 |
| The directors present their strategic report for the year ended 31 March 2025. |
| REVIEW OF BUSINESS |
| Turnover increased by £270,778 (12.8%) due to increased activity from the fee earning advisors. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| We anticipate that turnover will grow in the region of 5 - 10% during the year ending 31 March 2026 due to |
| ongoing new business generation. |
| Administrative costs are being reduced and steps taken to incentivise existing staff in order to mitigate the risks of staff departures. |
| The Company continues to place its investments with a diversified group of providers. these tend to be large, well established firms with a range of structured funds capable of mitigating market risk. The Company does not directly enter the financial markets and as such limits its exposure to counter party risk. |
| As such, the directors believe the company to be a going concern and have adopted this assumption in preparing the financial statements, having considered any material uncertainties in this regard for a period of at least 12 months from the date of approval of these financial statements. |
| SECTION 172(1) STATEMENT |
| Each director of the company continues to be mindful of their statutory duty to promote the success of the company for the benefit of the members as a whole, and in doing so having regard (amongst other matters) to those factors set out in section 172(1)(a)-(f) of the Companies Act 2006. |
| Collectively, the board recognises how having regard to these and other relevant factors and stakeholder groups in their decision-making, contributes to the success of the company. Depending on the matter in question, the relevance of different stakeholder interests and other factors will inevitably vary and the board may have to make difficult decisions based on competing priorities which means that it may not always be possible to provide a favourable outcome for all stakeholders. |
| ON BEHALF OF THE BOARD: |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| REPORT OF THE DIRECTORS |
| for the year ended 31 March 2025 |
| The directors present their report with the financial statements of the company for the year ended 31 March 2025. |
| PRINCIPAL ACTIVITIES |
| The principal activities of the company in the year under review were those of investment management and advice, and life and pension consultancy. |
| DIVIDENDS |
| No dividends will be distributed for the year ended 31 March 2025. |
| DIRECTORS |
| The directors set out in the table below have held office during the whole of the period from 1 April 2024 to the date of this report. |
| The beneficial interests of the directors holding office at 31 March 2025 in the shares of the company, according to the register of directors' interests, were as follows: |
| 31.3.25 | 1.4.24 |
| Ordinary shares of £1 each |
| 69,000 | 69,000 |
| 17,250 | 17,250 |
| - | - |
| These directors did not hold any non-beneficial interests in the shares of the company. |
| ENGAGEMENT WITH EMPLOYEES |
| The directors seek to foster an environment in which employees can raise any issues in respect of business conduct at any time and look to ensure that any matters arising are dealt with in a transparent and fair way. |
| ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS |
| The company seeks to deal on a fair basis with its suppliers, customers and other stakeholders. Both directors and the wider management engage and communicate very regularly with these various stakeholders and terms of business are communicated in a transparent way. |
| STATEMENT OF CORPORATE GOVERNANCE ARRANGEMENTS |
| The directors ultimately take responsibility for the success of the company through setting the strategy of the company and providing entrepreneurial leadership, combined with regular management and review of the wider risks to the company and the employees and other management. Informal meetings are held regularly to ensure that this process is ongoing. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| REPORT OF THE DIRECTORS |
| for the year ended 31 March 2025 |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD |
| Opinion |
| We have audited the financial statements of Philip T English International Financial Services Ltd (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on pages three and four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| The audit process includes an assessment of the entity's risk environment, through enquiry of and discussion with management, including an assessment of any key laws and regulations with which the company must comply in the ordinary course of its business. We have concluded that there are no such key laws and regulations that are particular to the company's activities. |
| Additionally, the overall risks of irregular transactions occurring are assessed following our observations and confirmation of the design and implementation of management's controls. Whilst we are mindful of these risks, our audit focus is geared towards the risk of material misstatement in the financial statements as a whole. |
| As such, our procedures cannot guarantee that all transactions have been fully compliant with all relevant laws and regulations, including those regulations relating to fraud, as our procedures are not designed to detect all instances of non-compliance. |
| Nevertheless, nothing has come to our attention that has given us significant cause for concern in the course of the procedures we haven undertaken in order to give our opinion on whether the financial statements are free from material misstatement, as shown above. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Chartered Accountants and Statutory Auditor |
| Highdown House |
| 11 Highdown Road |
| Leamington Spa |
| Warwickshire |
| CV31 1XT |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| INCOME STATEMENT |
| for the year ended 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| TURNOVER | 3 |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING PROFIT and |
| PROFIT BEFORE TAXATION |
| Tax on profit | 6 |
| PROFIT FOR THE FINANCIAL YEAR |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| OTHER COMPREHENSIVE INCOME |
| for the year ended 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| PROFIT FOR THE YEAR |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| BALANCE SHEET |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Share premium | 12 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| STATEMENT OF CHANGES IN EQUITY |
| for the year ended 31 March 2025 |
| Called up |
| share | Retained | Share | Total |
| capital | earnings | premium | equity |
| £ | £ | £ | £ |
| Balance at 1 April 2023 |
| Changes in equity |
| Total comprehensive income | - | - |
| Balance at 31 March 2024 |
| Changes in equity |
| Total comprehensive income | - | - |
| Balance at 31 March 2025 |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| CASH FLOW STATEMENT |
| for the year ended 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 |
| Tax paid | ( |
) | ( |
) |
| Net cash from operating activities | ( |
) |
| Increase/(decrease) in cash and cash equivalents | ( |
) |
| Cash and cash equivalents at beginning of year |
2 |
341,005 |
| Cash and cash equivalents at end of year | 2 | 416,098 | 340,907 |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| NOTES TO THE CASH FLOW STATEMENT |
| for the year ended 31 March 2025 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2025 | 2024 |
| £ | £ |
| Profit before taxation |
| Depreciation charges |
| 34,491 | 97,371 |
| Increase in trade and other debtors | ( |
) | ( |
) |
| Increase/(decrease) in trade and other creditors | ( |
) |
| Cash generated from operations |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 31 March 2025 |
| 31.3.25 | 1.4.24 |
| £ | £ |
| Cash and cash equivalents | 416,098 | 340,907 |
| Year ended 31 March 2024 |
| 31.3.24 | 1.4.23 |
| £ | £ |
| Cash and cash equivalents | 340,907 | 341,005 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.4.24 | Cash flow | At 31.3.25 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 340,907 | 75,191 | 416,098 |
| 340,907 | 416,098 |
| Total | 340,907 | 75,191 | 416,098 |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Philip T English International Financial Services Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year. |
| Critical accounting judgements and key sources of estimation uncertainty |
| Accounting judgements and estimates relate primarily to depreciation and asset valuations. The directors do not believe that any accounting judgements or estimates are significant to the reported results of the entity. |
| Turnover |
| Turnover comprises the value of sales (net of value added tax) of services provided in the normal course of business. Revenue is recognised in respect of commissions when the company obtains the right to consideration. |
| Tangible fixed assets |
| Short leasehold | - |
| Furniture, fittings and equipment | - |
| Computer equipment | - |
| 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. |
| 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. |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
| 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 income statement. |
| Client bank accounts and related client accounts |
| At the date of these financial statements the balances on the clients' bank accounts total £54,694 (2024 - £54,871). |
| 3. | TURNOVER |
| The turnover and profit before taxation are attributable to the principal activities of the company. |
| An analysis of turnover by class of business is given below: |
| 2025 | 2024 |
| £ | £ |
| 4. | EMPLOYEES AND DIRECTORS |
| 2025 | 2024 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 2025 | 2024 |
| Salaried advisors | 4 | 4 |
| Administrative | 4 | 4 |
| 2025 | 2024 |
| £ | £ |
| Directors' remuneration |
| Directors' pension contributions to money purchase schemes |
| The number of directors to whom retirement benefits were accruing was as follows: |
| Money purchase schemes |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 4. | EMPLOYEES AND DIRECTORS - continued |
| Information regarding the highest paid director is as follows: |
| 2025 | 2024 |
| £ | £ |
| Emoluments etc |
| Pension contributions to money purchase schemes |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2025 | 2024 |
| £ | £ |
| Depreciation - owned assets |
| Auditors' remuneration |
| Other non- audit services |
| 6. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2025 | 2024 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Overprovision of corporation tax last year | (28 | ) | - |
| Total current tax |
| Deferred tax | ( |
) |
| Tax on profit |
| UK corporation tax has been charged at 25% (2024 - 25%). |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2025 | 2024 |
| £ | £ |
| Profit before tax |
| Profit multiplied by the standard rate of corporation tax in the UK of (2024 - |
| Effects of: |
| Expenses not deductible for tax purposes |
| Depreciation in excess of capital allowances |
| Adjustments to tax charge in respect of previous periods | ( |
) |
| Total tax charge | 20,884 | 24,016 |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 7. | TANGIBLE FIXED ASSETS |
| Furniture, |
| fittings |
| Short | and | Computer |
| leasehold | equipment | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| All debtors are financial assets that are debt instruments measured at amortised cost. |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Accruals and deferred income |
| All creditors are financial liabilities measured at amortised cost. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances | 1,389 | 1,767 |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| 10. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Credit to Income Statement during year | ( |
) |
| Balance at 31 March 2025 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 86,250 | 86,250 |
| All ordinary shares rank pari passu with respect to voting rights and the rights to distribution of dividends and the repayment of capital. |
| 12. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1 April 2024 | 1,723,778 |
| Profit for the year | - |
| At 31 March 2025 | 1,735,695 |
| Retained earnings |
| This reserve represents all current and prior year retained profits and losses. |
| Share premium |
| This reserve represents the amount above the nominal value received for shares issued, less transaction costs. |
| 13. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme in respect of the directors and certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £72,057 (2024 - £12,292). Included within creditors is £60,000 (2024 - £nil) owing to the pension provider. |
| 14. | RELATED PARTY DISCLOSURES |
| The directors are considered to be key management. Their remuneration is outlined in the notes above. |
| PHILIP T ENGLISH INTERNATIONAL |
| FINANCIAL SERVICES LTD (REGISTERED NUMBER: 02001734) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2025 |
| The Managing Director has a material interest in the company TLT Financial Limited. This company is entitled to consulting fees based upon the fee income generated for Philip T English International Financial Services Ltd, in the year to 31 March 2025 this totalled £1,084,384 (2024 - £936,318). At the year end the company owed TLT Financial Limited £23,806 (2024 - £15,363) in relation to consulting fees earned in the year. |
| P T English and T P J English are partners in an estate business. The company trades from premises owned by the Estate and a cross charge is levied. In the year ended 31 March 2025 expenses totalling £177,335 (2024 - £166,439) were recognised in the financial statements. At the year end the company was owed £776,600 (2024 - £776,600) by the Estate. |
| P T English is involved in an Antigua registered venture - The English Haven Limited. At the year end the company was owed £710,405 (2024 - £692,736) by The English Haven Limited. |
| 15. | CONTROLLING INTERESTS |
| The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company. |