DIRECT MORTGAGES (PHILIP JAMES) LTD

Registered number

08958413

Filleted Accounts

30 September 2025

DIRECT MORTGAGES (PHILIP JAMES) LTD
Registered number:		08958413
Balance Sheet
as at 30 September 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		14,254			16,769

Current assets
Debtors	4	2,607			791
Cash at bank and in hand		17,517			101,671
		20,124			102,462

Creditors: amounts falling due within one year	5	(21,917)			(81,596)

Net current (liabilities)/assets			(1,793)			20,866

Total assets less current liabilities			12,461			37,635


Provisions for liabilities			(2,708)			(3,186)


Net assets			9,753			34,449

Capital and reserves
Called up share capital			100			100
Profit and loss account			9,653			34,349

Shareholder's funds			9,753			34,449

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr D Corry
Director
Approved by the board on 18 February 2026

DIRECT MORTGAGES (PHILIP JAMES) LTD
Notes to the Accounts
for the year ended 30 September 2025


1	Accounting policies

	Basis of preparation
	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).

	Turnover
	Turnover is measured at the fair value of the consideration receivable. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.


	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:


	Plant and machinery	15% per annum reducing balance basis


	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.




	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.




2	Employees		2025		2024
Number				Number

	Average number of persons employed by the company		4		4




3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 October 2024				46,656
	At 30 September 2025				46,656

	Depreciation
	At 1 October 2024				29,887
	Charge for the year				2,515
	At 30 September 2025				32,402

	Net book value
	At 30 September 2025				14,254
	At 30 September 2024				16,769




4	Debtors		2025		2024
£				£

	Trade debtors and prepayments		2,607		791




5	Creditors: amounts falling due within one year		2025		2024
£				£

	Trade creditors and accruals		11,389		72,142
	Corporation tax		1,721		3,422
	Other taxes and social security costs		8,807		6,032
			21,917		81,596



6	Events after the reporting date
	There were no events after the reporting date which would affect the user's understanding of these accounts.



7	Contingent liabilities
	There were no contingent liabilities in existence at the year end.



8	Controlling party
	The company is controlled by Mr D Corry, the director, who holds 100% of the issued ordinary share capital.



9	Other information

	DIRECT MORTGAGES (PHILIP JAMES) LTD is a private company limited by shares and incorporated in England. Its registered office is:
	24 Oswald Road
	Chorlton Cum Hardy
	Manchester
	M21 9LP