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Registration number: 14329578

Phillip Bailey Joinery Limited
Unaudited Financial Statements
for the Year Ended 30 September 2025

Phillip Bailey Joinery Limited

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 7

Phillip Bailey Joinery Limited

(Registration number: 14329578)
Balance Sheet as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 6,917 | 7,917
Tangible assets | 5 | 17,088 | 10,793
|  | 24,005 | 18,710
Current assets |  |  |
Stocks | 6 | 4,383 | 3,938
Debtors | 7 | 5,379 | 6,471
Cash at bank and in hand |  | 8,079 | 18,282
|  | 17,841 | 28,691
Creditors: Amounts falling due within one year | 8 | (8,243) | (19,089)
Net current assets |  | 9,598 | 9,602
Total assets less current liabilities |  | 33,603 | 28,312
Creditors: Amounts falling due after more than one year | 8 | (6,333) | -
Provisions for liabilities |  | (1,983) | (366)
Net assets |  | 25,287 | 27,946
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 25,187 | 27,846
Shareholders' funds |  | 25,287 | 27,946

Phillip Bailey Joinery Limited

(Registration number: 14329578)
Balance Sheet as at 30 September 2025

For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | 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 director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 January 2026

......................................... Mr P Bailey Director

Phillip Bailey Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
7 Lakeside
Betley
Crewe
Cheshire
CW3 9AH
England

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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 that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Phillip Bailey Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

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 in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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
Plant and machinery | 25% reducing balance
Motor vehicles | 25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 10% straight line

Phillip Bailey Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Phillip Bailey Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 October 2024 | 10,000 | 10,000
At 30 September 2025 | 10,000 | 10,000
Amortisation
At 1 October 2024 | 2,083 | 2,083
Amortisation charge | 1,000 | 1,000
At 30 September 2025 | 3,083 | 3,083
Carrying amount
At 30 September 2025 | 6,917 | 6,917
At 30 September 2024 | 7,917 | 7,917

5 | Tangible assets

| Motor vehicles £ | Plant and machinery £ | Total £
Cost or valuation
At 1 October 2024 | - | 19,530 | 19,530
Additions | 10,482 | 1,510 | 11,992
At 30 September 2025 | 10,482 | 21,040 | 31,522
Depreciation
At 1 October 2024 | - | 8,737 | 8,737
Charge for the year | 2,621 | 3,076 | 5,697
At 30 September 2025 | 2,621 | 11,813 | 14,434
Carrying amount
At 30 September 2025 | 7,861 | 9,227 | 17,088
At 30 September 2024 | - | 10,793 | 10,793

6 | Stocks

| 2025 £ | 2024 £
Stocks | 4,383 | 3,938

Phillip Bailey Joinery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

7 | Debtors

| 2025 £ | 2024 £
Trade debtors | 4,374 | 5,470
Prepayments | 1,005 | 1,001
| 5,379 | 6,471

8 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Loans and borrowings | 2,000 | -
Trade creditors | - | 569
Taxation and social security | 2,414 | 7,233
Accruals and deferred income | 917 | 872
Other creditors | 2,912 | 10,415
| 8,243 | 19,089

Creditors: amounts falling due after more than one year

| 2025 £ | 2024 £
Due after one year |  |
Loans and borrowings | 6,333 | -