PHILLIP CARRUTHERS LIMITED


Directors	CARRUTHERS, Abbie
	CARRUTHERS, Alison
	CARRUTHERS, Phillip
	NEWSTEAD, Laura Ellen
	SKILLING, Sean William
	WILSON, John George


Company Secretary	CARRUTHERS, Alison


Registered Address	East Paddocks
	Scaw Road
	High Harrington Workington
	CA14 4LY


Registered Number	03840997 (England and Wales)

Statement of Financial Position
31 October 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		2,657,252		1,998,483
Investment property	4		78,000		78,000
			2,735,252		2,076,483
Current assets
Stocks	5	518,854		394,675
Debtors		669,969		974,956
Cash at bank and on hand		805,585		373,216
		1,994,408		1,742,847
Creditors amounts falling due within one year	6	(799,700)		(808,638)
Net current assets (liabilities)			1,194,708		934,209
Total assets less current liabilities			3,929,960		3,010,692
Creditors amounts falling due after one year	7		(572,853)		(321,582)
Provisions for liabilities	9		(536,901)		(348,494)
Net assets			2,820,206		2,340,616
Capital and reserves
Called up share capital			10,000		10,000
Profit and loss account			2,810,206		2,330,616
Shareholders' funds			2,820,206		2,340,616

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 13 January 2026, and are signed on its behalf by:

CARRUTHERS, Phillip
Director
Registered Company No. 03840997

PHILLIP CARRUTHERS LIMITED

Notes to the Financial Statements
for the year ended 31 October 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Land and buildings	50
	Plant and machinery	5
	Vehicles	5

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

	Government grants or assistance
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

Government grants or assistance

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. 

Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	35		33

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 November 24	286,548	2,461,448	1,717,400	4,465,396
Additions	4,400	1,033,410	512,850	1,550,660
Disposals	-	(315,145)	(80,767)	(395,912)
At 31 October 25	290,948	3,179,713	2,149,483	5,620,144
Depreciation and impairment
At 01 November 24	35,412	1,639,260	792,241	2,466,913
Charge for year	5,804	371,456	342,923	720,183
On disposals	-	(174,238)	(49,966)	(224,204)
At 31 October 25	41,216	1,836,478	1,085,198	2,962,892
Net book value
At 31 October 25	249,732	1,343,235	1,064,285	2,657,252
At 31 October 24	251,136	822,188	925,159	1,998,483

4.	Investment property
	The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.


		£
	Fair value at 01 November 24	78,000
	At 31 October 25	78,000

5.	Stocks

	2025	2024
	£	£
Raw materials and consumables	80,900	14,500
Work in progress	437,954	380,175
Total	518,854	394,675

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	413,517	583,321
Taxation and social security	2,814	-
Finance lease and HP contracts	240,264	213,475
Other creditors	138,186	7,342
Accrued liabilities and deferred income	4,919	4,500
Total	799,700	808,638


	The hire purchase liabilities are secured on the assets to which they relate.

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	572,853	321,582
Total	572,853	321,582


	The hire purchase liabilities are secured on the assets to which they relate.

8.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	813,117		535,057

9.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	536,901	348,494
Total	536,901	348,494

10.	Share capital
	Ordinary share capital issued and fully paid: 10,000 Ordinary shares

11.	Related party transactions
	Phillip Carruthers Limited has loaned funds to another company of which Mr and Mrs Carruthers are directors and shareholders. Interest has been charged totalling £540 (31 October 2024 - £1,604 received). Interest is charges at 0.75% and is payable in arrears. The amount due to the company at the year end was £155,842. At 31 October 2024 the amount owed by the company was £333,618. The loan is repayable on demand.

11.

Related party transactions

Phillip Carruthers Limited has loaned funds to another company of which Mr and Mrs Carruthers are directors and shareholders. Interest has been charged totalling £540 (31 October 2024 - £1,604 received). Interest is charges at 0.75% and is payable in arrears. The amount due to the company at the year end was £155,842. At 31 October 2024 the amount owed by the company was £333,618. The loan is repayable on demand.