General Information
Phyto Products Limited is a private company, limited by shares, registered in England and Wales, registration number 01539827, registration address Unit 2 Sherbrook Enterprise, 100 Sherbrook Road, Daybrook, Nottingham, NG5 6AB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Land and Buildings |
2% Straight Line |
| Plant and Machinery |
25% Straight Line
|
| Motor Vehicles |
25% Reducing Balance
|
| Fixtures and Fittings |
15% Straight Line
|
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 5 (2024 : 4).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
117,581 |
|
39,950 |
|
22,950 |
|
15,857 |
|
196,338 |
| Additions |
- |
|
- |
|
- |
|
1,856 |
|
1,856 |
| Disposals |
- |
|
- |
|
- |
|
(672) |
|
(672) |
| At 31 March 2025 |
117,581 |
|
39,950 |
|
22,950 |
|
17,041 |
|
197,522 |
| Depreciation |
| At 01 April 2024 |
67,510 |
|
39,950 |
|
4,781 |
|
10,896 |
|
123,137 |
| Charge for year |
2,352 |
|
- |
|
4,542 |
|
2,089 |
|
8,983 |
| On disposals |
- |
|
- |
|
- |
|
(672) |
|
(672) |
| At 31 March 2025 |
69,862 |
|
39,950 |
|
9,323 |
|
12,313 |
|
131,448 |
| Net book values |
| Closing balance as at 31 March 2025 |
47,719 |
|
- |
|
13,627 |
|
4,728 |
|
66,074 |
| Opening balance as at 01 April 2024 |
50,071 |
|
- |
|
18,169 |
|
4,961 |
|
73,201 |
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
318,673 |
|
308,244 |
|
318,673 |
|
308,244 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
32,503 |
|
35,098 |
| Prepayments & Accrued Income |
8,602 |
|
8,372 |
|
41,105 |
|
43,470 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
13,508 |
|
3,379 |
| Corporation Tax |
24,132 |
|
6,513 |
| Accrued Expenses |
4,506 |
|
3,835 |
| Directors' Current Accounts |
1,023 |
|
1,587 |
| VAT |
23,731 |
|
18,561 |
|
66,900 |
|
33,875 |
|
| 7. |
Share Capital
Authorised
100 Ordinary shares of £1.00 each
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
100
Ordinary shares of £1.00 each |
100 |
|
100 |
|
100 |
|
100 |
|
| 8. |
Related Party Transactions
During the year a loan existed, made to the company by Ms Dawn Parkin, a director and shareholder of the company.
The maximum amount outstanding during the year was £1,587.
The balance at the end of the year, included within creditors, was £1,023 (2024 - £1,587).
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3
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