Company Registration No. 07124442 (England and Wales)
Phillips Price Services Limited
Unaudited accounts
for the year ended 31 December 2024
Phillips Price Services Limited
Unaudited accounts
Contents
Phillips Price Services Limited
Company Information
for the year ended 31 December 2024
Company Number
07124442 (England and Wales)
Registered Office
Unit 8b, Castleton Court
Fortran Road
Cardiff
CF3 0LT
Accountants
STAS Ltd
253 Cowbridge Road West
Cardiff
CF5 5TD
Phillips Price Services Limited
Accountants' report
Accountants' report to the board of directors of Phillips Price Services Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Phillips Price Services Limited for the year ended
31 December 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Phillips Price Services Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Phillips Price Services Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phillips Price Services Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Phillips Price Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Phillips Price Services Limited. You consider that Phillips Price Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Phillips Price Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
STAS Ltd
253 Cowbridge Road West
Cardiff
CF5 5TD
18 September 2025
Phillips Price Services Limited
Statement of financial position
as at 31 December 2024
Tangible assets
8,880
15,087
Cash at bank and in hand
11,677
-
Creditors: amounts falling due within one year
(154,480)
(37,562)
Net current assets
227,413
294,971
Total assets less current liabilities
236,293
310,058
Creditors: amounts falling due after more than one year
(79,836)
(154,984)
Net assets
156,457
155,074
Called up share capital
1,250
1,250
Share premium
80,000
80,000
Profit and loss account
75,207
73,824
Shareholders' funds
156,457
155,074
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by
P Breen
Director
Company Registration No. 07124442
Phillips Price Services Limited
Notes to the Accounts
for the year ended 31 December 2024
Phillips Price Services Limited is a private company, limited by shares, registered in England and Wales, registration number 07124442. The registered office is Unit 8b, Castleton Court, Fortran Road, Cardiff, CF3 0LT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Phillips Price Services Limited
Notes to the Accounts
for the year ended 31 December 2024
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 January 2024
4,205
26,828
31,033
At 31 December 2024
4,205
26,828
31,033
At 1 January 2024
1,191
14,755
15,946
Charge for the year
841
5,366
6,207
At 31 December 2024
2,032
20,121
22,153
At 31 December 2024
2,173
6,707
8,880
At 31 December 2023
3,014
12,073
15,087
Amounts falling due within one year
Trade debtors
114,010
103,377
Amounts due from group undertakings etc.
204,929
205,298
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
37,573
4,740
Trade creditors
12,484
17,348
Taxes and social security
16,235
9,871
Loans from directors
76,169
-
Bank loans and overdrafts are secured by directors guarantee.
7
Creditors: amounts falling due after more than one year
2024
2023
Phillips Price Services Limited
Notes to the Accounts
for the year ended 31 December 2024
Allotted, called up and fully paid:
1,250 Ordinary shares of £1 each
1,250
1,250
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).