REGISTERED NUMBER: 07880355 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PHILLIP W RHODES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P W Rhodes

REGISTERED OFFICE:

Floraire

West End Lane

Ulverston

Cumbria

LA12 9HP

REGISTERED NUMBER:

07880355 (England and Wales)

BANKERS:

HSBC Bank plc

104 Duke Street

Barrow in Furness

Cumbria

LA14 1LR

FIXED ASSETS

Tangible assets

4

503,221

493,144

Investment property

5

815,475

815,475

1,318,696

1,308,619

CURRENT ASSETS

Stocks

53,940

59,659

Debtors

88

9,830

Cash in hand

289,048

107,800

343,076

177,289

CREDITORS

Amounts falling due within one year

57,759

13,608

NET CURRENT ASSETS

285,317

163,681

TOTAL ASSETS LESS CURRENT LIABILITIES

1,604,013

1,472,300

CREDITORS

Amounts falling due after more than one year

6

702,097

701,490

NET ASSETS

901,916

770,810

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

901,816

770,710

SHAREHOLDERS' FUNDS

901,916

770,810

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 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 November 2025 and were signed by:

Mr P W Rhodes - Director

1.	STATUTORY INFORMATION

Phillip W Rhodes Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales of goods and services, excluding VAT.

Tangible fixed assets

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

Buildings

-

3% on cost and not provided

Plant and machinery

-

25% on cost and 15% on reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Investment property

Investment properties are incorporated at cost.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Rental income from investment property

Rental income arising from operating leases on investment properties is accounted for on a straight line basis over the lease term.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

660,616

Additions

47,867

Disposals

(3,640

)

At 31 March 2025

704,843

DEPRECIATION

At 1 April 2024

167,472

Charge for year

37,039

Eliminated on disposal

(2,889

)

At 31 March 2025

201,622

NET BOOK VALUE

At 31 March 2025

503,221

At 31 March 2024

493,144

5.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2024

and 31 March 2025

815,475

NET BOOK VALUE

At 31 March 2025

815,475

At 31 March 2024

815,475

All of the company's investment properties are held for long-term investment and are included in the Balance Sheet at open market value. The surpluses or deficits on revaluation of freehold properties are transferred to the investment property revaluation reserve which is a departure from Financial Reporting Standard 102.

Depreciation is not provided in respect of investment properties.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.25

31.3.24

£

£

Repayable otherwise than by instalments

Other loans more than 5 years

not repayable by instalments

252,000

252,000

252,000

252,000

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

8.	RELATED PARTY DISCLOSURES

At 31st March 2025 Mr P W Rhodes, a director of the company, had on an unsecured interest free basis advanced £450,097 to the company.

(2024: £449,490)

At 31st March 2025 Mrs E Harrison, a person with significant control, had on an unsecured interest free basis advanced £52,000 to the company.

(2024: £52,000)

At 31st March 2025 Mr and Mrs W Rhodes, shareholders of the company, had on an unsecured interest free basis advanced £200,000 to the company.

(2024: £200,000)

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs E A Harrison.