ACCOUNTS - Final Accounts preparation

Company registration number: 03173253

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	PHILIP ROSE LIMITED


PHILIP ROSE LIMITED

COMPANY INFORMATION

Directors	J N Day
	S C L Day


Company secretary	Sandringham Company Secretaries Limited


Registered number	03173253


Registered office	3000a Parkway
	Whiteley
	Hampshire
	PO15 7FX


Accountants	Menzies LLP
	Chartered Accountants
	3000a Parkway
	Whiteley
	Hampshire
	PO15 7FX


PHILIP ROSE LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 5


PHILIP ROSE LIMITED REGISTERED NUMBER:03173253

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
		£		£


Fixed assets
Investment property	4		1,194,890		1,189,703
			1,194,890		1,189,703
Current assets
Debtors: amounts falling due within one year	5	6,374		4,426
Cash at bank and in hand		2,765		31,197
		9,139		35,623
Creditors: amounts falling due within one year	6	(300,489)		(313,102)
Net current liabilities			(291,350)		(277,479)
Total assets less current liabilities			903,540		912,224



Net assets			903,540		912,224

Page 1


PHILIP ROSE LIMITED REGISTERED NUMBER:03173253

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

		2025		2024
		£		£

Capital and reserves
Called up share capital	6,600	6,600
Profit and loss account	896,940	905,624
	903,540	912,224

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J N Day

Director

Date: 19 August 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2


PHILIP ROSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Philip Rose Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The address of the company's principal place of business is Ballamona, Bay View Road, Port St Mary, Isle of Man, IM9 5AJ.
The Company's functional and presentational currency is GBP and is rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

2.4

Investment property

Investment property is carried at fair value determined annually by the Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

Page 3


PHILIP ROSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2024	1,189,703
	Additions at cost	5,187
	At 31 March 2025	1,194,890

The 2025 valuations were made by the directors, on an open market value for existing use basis.

Page 4


PHILIP ROSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Prepayments and accrued income	6,374	4,426
	6,374	4,426

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Corporation tax	18,947	20,080
Other creditors	276,000	264,000
Accruals and deferred income	5,542	29,022
	300,489	313,102

7.	Controlling party

The ultimate parent company is Hamersley Limited, a company registered in the Isle of Man. Hamersley Limited's Registered office address is First Floor, Jubilee Buildings, Victoria Street, Douglas, Isle of Man, IM1 2SH.
The ultimate controlling party is Mrs C S Day.

Page 5