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Registered number: 09733713
Phillips Building Services Limited
Unaudited Financial Statements
For The Year Ended 31 August 2025
Accountancy Solutions (Northern) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09733713
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,864 16,101
11,864 16,101
CURRENT ASSETS
Stocks 5 - 975
Debtors 6 22,066 7,326
Cash at bank and in hand 14,083 27,000
36,149 35,301
Creditors: Amounts Falling Due Within One Year 7 (18,785 ) (27,314 )
NET CURRENT ASSETS (LIABILITIES) 17,364 7,987
TOTAL ASSETS LESS CURRENT LIABILITIES 29,228 24,088
Creditors: Amounts Falling Due After More Than One Year 8 (8,226 ) (13,945 )
NET ASSETS 21,002 10,143
CAPITAL AND RESERVES
Called up share capital 10 110 110
Profit and Loss Account 20,892 10,033
SHAREHOLDERS' FUNDS 21,002 10,143
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For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Phillips
Director
26/09/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Phillips Building Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09733713 . The registered office is Tower Buildings, 9 Oldgate, Morpeth, NE61 1PY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 September 2024 2,903 37,405 40,308
As at 31 August 2025 2,903 37,405 40,308
Depreciation
As at 1 September 2024 2,583 21,624 24,207
Provided during the period 292 3,945 4,237
As at 31 August 2025 2,875 25,569 28,444
Net Book Value
As at 31 August 2025 28 11,836 11,864
As at 1 September 2024 320 15,781 16,101
5. Stocks
2025 2024
£ £
Work in progress - 975
6. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 172 -
Other taxes and social security 13,886 7,326
Director's loan account 8,008 -
22,066 7,326
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - 2,800
Bank loans and overdrafts 4,314 -
Corporation tax 14,471 12,662
Accruals and deferred income - 1,028
Director's loan account - 10,824
18,785 27,314
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - 13,945
Bank loans 8,226 -
8,226 13,945
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9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 2,800
Later than one year and not later than five years - 13,945
- 16,745
- 16,745
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 110 110
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