Phil Holt & Son Ltd 31/12/2024 iXBRL

Company registration number: 10451491

Phil Holt & Son Ltd

Unaudited filleted financial statements

31 December 2024

Phil Holt & Son Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Phil Holt & Son Ltd

Directors and other information


	Directors	Mr Philip Holt
		Mr Kevin Holt


	Company number	10451491


	Registered office	Vaughan Chambers
		Vaughan Road
		Harpenden
		AL5 4EE


	Accountants	Hicks and Company
		Chartered Accountants
		Vaughan Chambers
		Vaughan Road
		Harpenden
		AL5 4EE

Phil Holt & Son Ltd

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Phil Holt & Son Ltd

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Phil Holt & Son Ltd for the year ended 31 December 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Phil Holt & Son Ltd, as a body, in accordance with the terms of our engagement letter dated 14 November 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Phil Holt & Son Ltd and state those matters that we have agreed to state to the board of directors of Phil Holt & Son Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phil Holt & Son Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Phil Holt & Son Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Phil Holt & Son Ltd. You consider that Phil Holt & Son Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Phil Holt & Son Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hicks and Company

Chartered Accountants

Vaughan Chambers

Vaughan Road

Harpenden

AL5 4EE

23 December 2025

Phil Holt & Son Ltd

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	706,504		690,692
		_______		_______
			706,504		690,692

Current assets
Stocks		650,000		650,000
Debtors	6	941		3,056
Cash at bank and in hand		2,730		10,779
		_______		_______
		653,671		663,835
Creditors: amounts falling due
within one year	7	( 630,658)		( 406,218)
		_______		_______
Net current assets			23,013		257,617
			_______		_______
Total assets less current liabilities			729,517		948,309

Creditors: amounts falling due
after more than one year	8		( 970,845)		( 1,076,505)
			_______		_______
Net liabilities			( 241,328)		( 128,196)
			_______		_______

Capital and reserves
Called up share capital			10		10
Profit and loss account			( 241,338)		( 128,206)
			_______		_______
Shareholders deficit			( 241,328)		( 128,196)
			_______		_______

For the year ending 31 December 2024 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.

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.

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

Mr Philip Holt

Director

Company registration number: 10451491

Phil Holt & Son Ltd

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, AL5 4EE.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis which assumes the continued support of the company's directors and credit providers.

Turnover

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

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


Plant and machinery	-	20% reducing balance
Fittings fixtures and equipment	-	20% reducing balance
Motor vehicles	-	20% reducing balance

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

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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 stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution 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 3 (2023: 3 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	319,813	607,706	15,029	99,058	1,041,606
Additions	-	77,298	32,260	-	109,558
	_______	_______	_______	_______	_______
At 31 December 2024	319,813	685,004	47,289	99,058	1,151,164
	_______	_______	_______	_______	_______
Depreciation
At 1 January 2024	-	331,751	4,990	14,173	350,914
Charge for the year	-	68,963	7,806	16,977	93,746
	_______	_______	_______	_______	_______
At 31 December 2024	-	400,714	12,796	31,150	444,660
	_______	_______	_______	_______	_______
Carrying amount
At 31 December 2024	319,813	284,290	34,493	67,908	706,504
	_______	_______	_______	_______	_______
At 31 December 2023	319,813	275,955	10,039	84,885	690,692
	_______	_______	_______	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	-	3,056
Other debtors	941	-
	_______	_______
	941	3,056
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	159,260	142,879
Trade creditors	43,751	97,127
Corporation tax	11,203	11,063
Social security and other taxes	7,804	11,650
Other creditors	408,640	143,499
	_______	_______
	630,658	406,218
	_______	_______

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

	2024	2023
	£	£
Bank loans and overdrafts	970,845	1,076,505
	_______	_______

The loans are secured against the asets of the company.

9. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Philip Holt	( 55,065)	( 183,923)	( 238,988)
	Mr Kevin Holt	-	( 2,327)	( 2,327)
		_______	_______	_______
		( 55,065)	( 186,250)	( 241,315)
		_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr Philip Holt	( 18,978)	( 36,087)	( 55,065)
	Mr Kevin Holt	9,970	( 9,970)	-
		_______	_______	_______
		( 9,008)	( 46,057)	( 55,065)
		_______	_______	_______