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Registration number: 05085960

Phillips Garage Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2025

 

Phillips Garage Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Phillips Garage Limited

Company Information

Director

P W Oliver

Registered office

4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

Accountants

Addicus Plus Limited
Chartered Certified Accountants4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

 

Phillips Garage Limited

(Registration number: 05085960)
Balance Sheet as at 30 April 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

15,732

16,867

Current assets

 

Stocks

2,878

3,559

Debtors

5

7,476

13,593

Cash at bank and in hand

 

20,502

14,899

 

30,856

32,051

Creditors: Amounts falling due within one year

6

(20,511)

(30,403)

Net current assets

 

10,345

1,648

Total assets less current liabilities

 

26,077

18,515

Provisions for liabilities

(2,989)

(3,205)

Net assets

 

23,088

15,310

Capital and reserves

 

Called up share capital

12,371

12,371

Retained earnings

10,717

2,939

Shareholders' funds

 

23,088

15,310

 

Phillips Garage Limited

(Registration number: 05085960)
Balance Sheet as at 30 April 2025 (continued)

For the financial year 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 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.

These financial statements have been prepared and 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 22 August 2025
 

P W Oliver
Director

   
     
 

Phillips Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE
United Kingdom

These financial statements were authorised for issue by the director on 22 August 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.

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 tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Phillips Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Short leasehold improvements

straight line over 15 years

Plant and machinery

25% on reducing balance

Motor vehicles

25% on reducing balance

Office equipment

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Phillips Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

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 5 (2024 - 5).

 

Phillips Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

4

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 May 2024

212,247

44,679

16,042

1,000

Additions

-

3,102

3,019

-

Disposals

-

(376)

(3,135)

-

At 30 April 2025

212,247

47,405

15,926

1,000

Depreciation

At 1 May 2024

212,247

38,807

5,122

925

Charge for the year

-

2,215

3,012

19

Eliminated on disposal

-

(258)

(1,243)

-

At 30 April 2025

212,247

40,764

6,891

944

Carrying amount

At 30 April 2025

-

6,641

9,035

56

At 30 April 2024

-

5,872

10,920

75

 

Phillips Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

Total
£

Cost or valuation

At 1 May 2024

273,968

Additions

6,121

Disposals

(3,511)

At 30 April 2025

276,578

Depreciation

At 1 May 2024

257,101

Charge for the year

5,246

Eliminated on disposal

(1,501)

At 30 April 2025

260,846

Carrying amount

At 30 April 2025

15,732

At 30 April 2024

16,867

 

Phillips Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

5

Debtors

2025
£

2024
£

Trade debtors

-

70

Other debtors

3,443

9,758

Prepayments

4,033

3,765

7,476

13,593

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

14,776

21,367

Taxation and social security

4,240

7,337

Accruals and deferred income

1,495

1,699

20,511

30,403