Philp Holdings Limited 28/02/2025 iXBRL

Company registration number: 04842492

Philp Holdings Limited

Unaudited filleted financial statements

28 February 2025

Philp Holdings Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Philp Holdings Limited

Directors and other information


Directors	Mrs S Philp	(Resigned 24th November 2025)
	Mr D Philp


Secretary	S Philp


Company number	04842492


Registered office	Wellington Mill
	Whitelands Road
	Ashton-under-Lyne
	Lancashire
	OL6 6UH


Business address	Wellington Mill
	Whitelands Road
	Ashton-under-Lyne
	Lancashire
	OL6 6UH


Accountants	Downham Morris & Co
	45/49 Greek Street
	Stockport
	Cheshire
	SK3 8AX

Philp Holdings Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Philp Holdings Limited

Year ended 28th February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Philp Holdings Limited for the year ended 28th February 2025 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 Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the board of directors of Philp Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Philp Holdings Limited and state those matters that we have agreed to state to the board of directors of Philp Holdings Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/ dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Philp Holdings Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Philp Holdings Limited 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 profit of Philp Holdings Limited. You consider that Philp Holdings Limited 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 Philp Holdings Limited. 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.

Downham Morris & Co

Chartered Certified Accountant

45/49 Greek Street

Stockport

Cheshire

SK3 8AX

22nd April 2026

Philp Holdings Limited

Statement of financial position

28th February 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	2,412,391		2,422,532
Investments	6	640,160		640,160
		_______		_______
			3,052,551		3,062,692

Current assets
Debtors	7	36,499		34,875
Cash at bank and in hand		271,493		380,356
		_______		_______
		307,992		415,231
Creditors: amounts falling due
within one year	8	( 74,691)		( 13,890)
		_______		_______
Net current assets			233,301		401,341
			_______		_______
Total assets less current liabilities			3,285,852		3,464,033


Provisions for liabilities			( 393,456)		( 393,456)

			_______		_______
Net assets			2,892,396		3,070,577
			_______		_______

Capital and reserves
Called up share capital			6,060		6,060
Profit and loss account			2,886,336		3,064,517
			_______		_______
Shareholders funds			2,892,396		3,070,577
			_______		_______

For the year ending 28 February 2025 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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 22 April 2026 , and are signed on behalf of the board by:

.........................

Mrs S Philp

Director

Company registration number: 04842492

Philp Holdings Limited

Notes to the financial statements

Year ended 28th February 2025

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Wellington Mill, Whitelands Road, Ashton-under-Lyne, Lancashire, OL6 6UH.

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.

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:


Freehold property	-	2 %	straight line

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.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Freehold property	Total
	£	£
Cost
At 29th February 2024 and 28th February 2025	2,507,039	2,507,039
	_______	_______
Depreciation
At 29th February 2024	84,507	84,507
Charge for the year	10,141	10,141
	_______	_______
At 28th February 2025	94,648	94,648
	_______	_______
Carrying amount
At 28th February 2025	2,412,391	2,412,391
	_______	_______
At 28th February 2024	2,422,532	2,422,532
	_______	_______

6. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 29th February 2024 and 28th February 2025	640,160	640,160
	_______	_______
Impairment
At 29th February 2024 and 28th February 2025	-	-
	_______	_______
Carrying amount
At 28th February 2025	640,160	640,160
	_______	_______
At 28th February 2024	640,160	640,160
	_______	_______

Investments in group undertakings
	Registered office	Class of share	Percentage of shares held
Subsidiary undertakings
Pre-Retail Services (UK) Ltd	Wellington Mill Whiteland Road Lancashire OL6 6UH	Ordinary	100

Stone Logistics Limited	Northern Assurance Buildings 9/21 Princess Street Manchester M2 4DN	Ordinary	100

7. Debtors

	2025	2024
	£	£
Trade debtors	32,404	31,035
Other debtors	4,095	3,840
	_______	_______
	36,499	34,875
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	5,351	180
Amounts owed to group undertakings and undertakings in which the company has a participating interest	27,000	-
Corporation tax	6,092	8,259
Social security and other taxes	155	1,638
Other creditors	36,093	3,813
	_______	_______
	74,691	13,890
	_______	_______

9. Prior period errors

2022 dividend adjustment

10. Related party transactions

During the year, the company voted dividends to the directors totalling £- (2024: £-)

11. Controlling party

The company is under the control of the directors by virtue of their shareholding.