REGISTERED NUMBER: 07281747 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Phil Staniforth Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,179

2,361

1,179

2,361

CURRENT ASSETS

Stocks

88,336

75,621

Debtors

6

25,201

10,069

Cash at bank

-

3,426

113,537

89,116

CREDITORS

Amounts falling due within one year

7

159,346

134,406

NET CURRENT LIABILITIES

(45,809

)

(45,290

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(44,630

)

(42,929

)

CREDITORS

Amounts falling due after more than one year

8

13,472

18,811

NET LIABILITIES

(58,102

)

(61,740

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(58,202

)

(61,840

)

(58,102

)

(61,740

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 October 2025 and were signed by:

P G Staniforth - Director

1.	STATUTORY INFORMATION

Phil Staniforth Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

07281747

Registered office:

Kelham Hills Farm

Broadgate Lane

Kelham

Newark

Nottinghamshire

NG23 5RY

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2023

and 31 March 2024

36,843

AMORTISATION

At 1 April 2023

and 31 March 2024

36,843

NET BOOK VALUE

At 31 March 2024

-

At 31 March 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2023

and 31 March 2024

16,064

DEPRECIATION

At 1 April 2023

13,703

Charge for year

1,182

At 31 March 2024

14,885

NET BOOK VALUE

At 31 March 2024

1,179

At 31 March 2023

2,361

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.24

31.3.23

£

£

Trade debtors

25,201

10,069

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.24

31.3.23

£

£

Bank loans and overdrafts

2,006

-

Trade creditors

5,643

5,872

Taxation and social security

8,969

6,190

Other creditors

142,728

122,344

159,346

134,406

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.24

31.3.23

£

£

Bank loans

13,472

18,811