REGISTERED NUMBER: 14570462 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

L Phillips Properties Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D L Phillips

REGISTERED OFFICE:

Canalside Yard

Canal Road

Neath

SA11 1LJ

REGISTERED NUMBER:

14570462 (England and Wales)

ACCOUNTANTS:

Cambrian & Co Ltd

13A Victoria Gardens

Neath

West Glamorgan

SA11 3AY

FIXED ASSETS

Investment property

4

322,518

299,299

CURRENT ASSETS

Debtors

5

20,000

20,000

Cash at bank

2,315

4,973

22,315

24,973

CREDITORS

Amounts falling due within one year

6

218,149

314,228

NET CURRENT LIABILITIES

(195,834

)

(289,255

)

TOTAL ASSETS LESS CURRENT LIABILITIES

126,684

10,044

CREDITORS

Amounts falling due after more than one year

7

98,963

-

NET ASSETS

27,721

10,044

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

27,621

9,944

27,721

10,044

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 21 October 2025 and were signed by:

D L Phillips - Director

1.	STATUTORY INFORMATION

L Phillips Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

299,299

Additions

23,219

At 31 January 2025

322,518

NET BOOK VALUE

At 31 January 2025

322,518

At 31 January 2024

299,299

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Other debtors

20,000

20,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Tax

7,290

2,333

Other creditors

1,200

1,200

Amounts owed to related party

130,000

130,000

Directors' current accounts

78,009

179,045

Accrued expenses

1,650

1,650

218,149

314,228

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Other loans - 1-2 years

98,963

-

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director operated a loan account with the company, the balance of which is separately disclosed in the notes to these accounts. No interest is charged on the loan, which is repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is D L Phillips.