Registration number: 13521620

Phillyn Limited

Contents

Abridged Balance Sheet	1 to 2
Notes to the Unaudited Abridged Financial Statements	3 to 6

Phillyn Limited

(Registration number: 13521620)
Abridged Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	38,717	22,210
Investments	5	33,000	33,000
Other financial assets	6	292,297	268,070
		364,014	323,280
Current assets
Stocks		13,540	7,286
Debtors		23,758	10,000
Cash at bank and in hand		1,126,978	743,746
		1,164,276	761,032
Creditors: Amounts falling due within one year		-	(742)
Net current assets		1,164,276	760,290
Total assets less current liabilities		1,528,290	1,083,570
Provisions for liabilities		(1,273)	-
Net assets		1,527,017	1,083,570
Capital and reserves
Called up share capital		100	100
Profit and loss account		1,526,917	1,083,470
Total equity		1,527,017	1,083,570

Phillyn Limited

(Registration number: 13521620)
Abridged Balance Sheet as at 31 March 2025

For the financial 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.

	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 23 December 2025 and signed on its behalf by:
 

Mr P Mutondo

Director

Mrs L Mutondo

Director

Phillyn Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
64 Field House Road
Humberston
Grimsby
DN36 4UJ

These financial statements were authorised for issue by the Board on 23 December 2025.

2	Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Phillyn Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Phillyn Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold Property	20% Straight Line
Motor Vehicles	25% Reducing Balance

Investments

Investments in equity shares where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit or loss account. Investments in equity shares where fair value cannot be measured reliably are measured at cost less impairment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Tangible assets

	Short leasehold land and buildings £	Total £
Cost or valuation
At 1 April 2024	2,472	28,855
Additions	27,436	27,436
At 31 March 2025	29,908	56,291
Depreciation
At 1 April 2024	49	6,645
Charge for the year	5,982	10,929
At 31 March 2025	6,031	17,574
Carrying amount
At 31 March 2025	23,877	38,717
At 31 March 2024	-	22,210

5	Investments

Phillyn Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

	Associates £
Cost or valuation
At 1 April 2024	33,000
At 31 March 2025	33,000
Carrying amount
At 31 March 2025	33,000
At 31 March 2024	33,000