REGISTERED NUMBER: 06819947 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PHILLIPS DEMPSEY LTD

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

2,051

1,472

CURRENT ASSETS

Stocks

50,000

50,000

Debtors

5

218,667

24,888

Cash at bank

56,399

183,329

325,066

258,217

CREDITORS

Amounts falling due within one year

6

146,887

141,836

NET CURRENT ASSETS

178,179

116,381

TOTAL ASSETS LESS CURRENT LIABILITIES

180,230

117,853

CREDITORS

Amounts falling due after more than one year

7

(6,524

)

(16,692

)

PROVISIONS FOR LIABILITIES

(513

)

(368

)

NET ASSETS

173,193

100,793

CAPITAL AND RESERVES

Called up share capital

8

8

Capital redemption reserve

2

2

Retained earnings

173,183

100,783

SHAREHOLDERS' FUNDS

173,193

100,793

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 20 October 2025 and were signed on its behalf by:

O D Phillips - Director

1.	STATUTORY INFORMATION

Phillips Dempsey Ltd 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:

06819947

Registered office:

9 Hills Road

Cambridge

Cambridgeshire

CB2 1GE

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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover and accrued income

Turnover represents net invoiced sales of goods/services, excluding VAT.

In line with the requirements of Financial Reporting Standard 5 on income recognition (and further guidance given in UITF 40), accrued income has been recognised in these financial statements. Income is accrued for those contracts where there is an entitlement to receive consideration either as a result of an occurrence, the reaching of an agreement or the passage of time.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

Work in progress

Work in progress is valued at cost including attributable overheads and has been adjusted for irrecoverable amounts and where recovery is uncertain.

Financial instruments

The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

4,802

Additions

2,839

At 31 March 2025

7,641

DEPRECIATION

At 1 April 2024

3,330

Charge for year

2,260

At 31 March 2025

5,590

NET BOOK VALUE

At 31 March 2025

2,051

At 31 March 2024

1,472

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

34,096

6,919

Other debtors

184,571

17,969

218,667

24,888

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,667

10,667

Trade creditors

728

639

Taxation and social security

128,599

106,736

Other creditors

6,893

23,794

146,887

141,836

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

6,524

16,692

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

O D Phillips

Balance outstanding at start of year

-

(521

)

Amounts advanced

88,572

91,381

Amounts repaid

(37,483

)

(90,860

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

51,089

-

M G Dempsey

Balance outstanding at start of year

(15,896

)

(24,377

)

Amounts advanced

158,496

74,515

Amounts repaid

(27,210

)

(66,034

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

115,390

(15,896

)

Interest has been charged on these loans, the loans are unsecured and repayable on demand and within nine months of the year end.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £179,266 (2024 - £119,677) were paid to the directors .

10.	ULTIMATE CONTROLLING PARTY

The controlling parties are O Phillips and M Dempsey by virtue of their holding of the issued ordinary share capital.