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Registration number: 15614928

Philips Yards Birmingham Limited

Unaudited Filleted Financial Statements

for the Period from 4 April 2024 to 30 April 2025

 

Philips Yards Birmingham Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Philips Yards Birmingham Limited

Company Information

Director

Mr R G Philips

Registered office

Church Farm
Cornmeadow Lane
Claines
Worcestershire
WR3 7RL

Accountants

Ballards LLP
Chartered Accountants
11c Oakmoore Court
Kingswood Road
Hampton Lovett
Droitwich
Worcs
WR9 0QH

 

Philips Yards Birmingham Limited

(Registration number: 15614928)
Balance Sheet as at 30 April 2025

Note

2025
£

Fixed assets

 

Intangible assets

4

22,500

Tangible assets

5

52,947

 

75,447

Current assets

 

Debtors

6

117,714

Cash at bank and in hand

 

12,067

 

129,781

Creditors: Amounts falling due within one year

7

(185,603)

Net current liabilities

 

(55,822)

Net assets

 

19,625

Capital and reserves

 

Called up share capital

1

Retained earnings

19,624

Shareholders' funds

 

19,625

For the financial period ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period 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.

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.

Approved and authorised by the director on 29 July 2025
 

.........................................
Mr R G Philips
Director

   
     
 

Philips Yards Birmingham Limited

Notes to the Unaudited Financial Statements for the Period from 4 April 2024 to 30 April 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Church Farm
Cornmeadow Lane
Claines
Worcestershire
WR3 7RL

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

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

Philips Yards Birmingham Limited

Notes to the Unaudited Financial Statements for the Period from 4 April 2024 to 30 April 2025

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

Plant and machinery

Reducing balance (25%)

Leasehold property

Straightline (2%)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise

10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

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

 

Philips Yards Birmingham Limited

Notes to the Unaudited Financial Statements for the Period from 4 April 2024 to 30 April 2025

4

Intangible assets

Franchise agreement
 £

Total
£

Cost or valuation

Additions

25,000

25,000

At 30 April 2025

25,000

25,000

Amortisation

Amortisation charge

2,500

2,500

At 30 April 2025

2,500

2,500

Carrying amount

At 30 April 2025

22,500

22,500

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

13,957

52,359

66,316

At 30 April 2025

13,957

52,359

66,316

Depreciation

Charge for the period

279

13,090

13,369

At 30 April 2025

279

13,090

13,369

Carrying amount

At 30 April 2025

13,678

39,269

52,947

Included within the net book value of land and buildings above is £13,678 in respect of short leasehold land and buildings.
 

 

Philips Yards Birmingham Limited

Notes to the Unaudited Financial Statements for the Period from 4 April 2024 to 30 April 2025

6

Debtors

Current

2025
£

Trade debtors

22,948

Prepayments

40,271

Other debtors

54,495

 

117,714

7

Creditors

Creditors: amounts falling due within one year

2025
£

Due within one year

Trade creditors

35,904

Taxation and social security

2,665

Accruals and deferred income

23,185

Other creditors

123,849

185,603