Phillips Animal Health Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01245416

Phillips Animal Health Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Phillips Animal Health Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		422,433	411,237

Current assets

Stocks		369,018	354,220
Debtors	7	336,672	351,045
Investments	8	1,066	1,066
Cash at bank and in hand		245,776	199,459
		----------	----------
		952,532	905,790

Creditors: amounts falling due within one year	9	556,277		533,153
		----------		----------
Net current assets			396,255	372,637
			----------	----------
Total assets less current liabilities			818,688	783,874

Creditors: amounts falling due after more than one year	10		1,816	8,346

Provisions

Deferred taxation	38,982	31,082
	----------	----------
Net assets	777,890	744,446
	----------	----------

Capital and reserves

Called up share capital	6,500	6,500
Capital redemption reserve	3,500	3,500
Profit and loss account	767,890	734,446
	----------	----------
Shareholders funds	777,890	744,446
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Phillips Animal Health Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 17 October 2025 , and are signed on behalf of the board by:

M D Phillips	P Phillips
Director	Director

Company registration number: 01245416

Phillips Animal Health Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Achurch Road, Holmes Way, Boston Road Industrial Estate, Horncastle, Lincolnshire, LN9 6AS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of income and retained earnings.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold land and buildings	-	2% straight line
Fixtures and equipment	-	15% & 25% reducing balance, 33% straight line
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Defined contribution pension plans

Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 17 (2024: 18 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	23,974
	--------
Amortisation
At 1 April 2024 and 31 March 2025	23,974
	--------
Carrying amount
At 31 March 2025	–
	--------
At 31 March 2024	–
	--------

6. Tangible assets

	Freehold land and buildings	Fixtures and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	420,831	139,145	219,723	779,699
Additions	–	34,190	43,350	77,540
Disposals	–	–	( 66,382)	( 66,382)
	----------	----------	----------	----------
At 31 March 2025	420,831	173,335	196,691	790,857
	----------	----------	----------	----------
Depreciation
At 1 April 2024	156,443	119,739	92,280	368,462
Charge for the year	7,537	6,637	32,318	46,492
Disposals	–	–	( 46,530)	( 46,530)
	----------	----------	----------	----------
At 31 March 2025	163,980	126,376	78,068	368,424
	----------	----------	----------	----------
Carrying amount
At 31 March 2025	256,851	46,959	118,623	422,433
	----------	----------	----------	----------
At 31 March 2024	264,388	19,406	127,443	411,237
	----------	----------	----------	----------

7. Debtors

	2025	2024
	£	£
Trade debtors	324,868	339,724
Other debtors	11,804	11,321
	----------	----------
	336,672	351,045
	----------	----------

8. Investments

	2025	2024
	£	£
Current asset investments	1,066	1,066
	-------	-------

The investment is held in Downland Marketing Ltd, an unlisted company, and is stated at cost. The company holds 125 shares which represents 3.7% of the total shares.

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans	6,015	6,015
Trade creditors	460,055	454,510
Social security and other taxes	73,518	64,276
Other creditors	16,689	8,352
	----------	----------
	556,277	533,153
	----------	----------

The bank loan of £6,015 (2024 - £6,015) has been provided to the company under the Bounce Back Loan Scheme.

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans	1,816	8,346
	-------	-------

The bank loan of £1,816 (2024 - £8,346) has been provided to the company under the Bounce Back Loan Scheme.

11. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	38,982	31,082
	--------	--------

12. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2025	2024
	£	£

Recognised in creditors:

Deferred government grants due within one year	7,048	–
	-------	----