A.J. PHILPOTT & SONS LIMITED - Filleted accounts

A.J. PHILPOTT & SONS LIMITED
Balance Sheet
as at 31 December 2024

Notes			2024			2023
Fixed assets	£			£

Tangible assets	3		65,905			73,868

Current assets
Stocks		297,760			335,570
Debtors	4	240,169			271,526
Cash at bank and in hand		289,482			223,882

		827,411			830,978
Creditors: amounts falling due within one year	5	(639,213)			(692,162)

Net current assets			188,198			138,816

Total assets less current liabilities			254,103			212,684

Creditors: amounts falling due after more than one year	6		(7,409)			(21,098)

Provisions for liabilities			(97,414)			(52,989)

Net assets			149,280			138,597

Capital and reserves
Called up share capital			1,320			1,320
Profit and loss account			147,960			137,277

Shareholders' funds			149,280			138,597

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




P.J. PHILPOTT
Director
Approved by the board on 12 August 2025


Notes to the Accounts
for the year ended 31 December 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 received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:

	Plant and machinery	25% reducing balance basis
	Fixtures, fittings and equipment	25% reducing balance basis
	Computers and peripheral equipment	33⅓% straight line basis
	Motor vehicles	25% reducing balance basis
	Website development costs	33⅓% straight line basis

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.








	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Current and deferred tax assets and liabilities are not discounted.


	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 expensed in the period to which they relate.







2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			21		18


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 January 2024	218,549		129,049		347,598
	Additions	14,057		-		14,057
	At 31 December 2024	232,606		129,049		361,655

	Depreciation
	At 1 January 2024	204,646		69,084		273,730
	Charge for the year	7,029		14,991		22,020
	At 31 December 2024	211,675		84,075		295,750

	Net book value
	At 31 December 2024	20,931		44,974		65,905
	At 31 December 2023	13,903		59,965		73,868


4	Debtors			2024		2023
£					£

	Trade debtors			234,727		265,161
	Other debtors			5,442		6,365
				240,169		271,526


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Obligations under finance lease and hire purchase contracts (secured)			13,690		23,900
	Trade creditors and accruals			148,157		165,915
	Taxes and social security costs			66,854		56,250
	Other accounts			159,928		156,789
	Other creditors			250,584		289,308
				639,213		692,162


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Obligations under finance lease and hire purchase contracts (secured)			7,409		21,098


7	Other financial commitments			2024		2023
£					£

	Total future minimum payments under non-cancellable operating leases			81,948		78,796


8	Related party transactions
	Other creditors, as disclosed at Note 5, Creditors: Amounts falling due within one year, includes unsecured loans to the company from its directors (who are also the company's shareholders) of £250,584 (2023: £289,308).


9	Other information
	A.J. PHILPOTT & SONS LIMITED is a private company limited by shares and incorporated in England (Company Number 01416395). Its registered office is Fountain Square, Fenton, Stoke-on-Trent, Staffordshire, ST4 2HA.