REGISTERED NUMBER: 04512448 (England and Wales)

PHILLIPS STEEL CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D L Phillips

REGISTERED OFFICE:

Riverside Cottage

Hollowfields Road

Hanbury

Worcestershire

B96 6TG

REGISTERED NUMBER:

04512448 (England and Wales)

ACCOUNTANTS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

FIXED ASSETS

Tangible assets

4

366,115

316,974

CURRENT ASSETS

Stocks

33,208

20,583

Debtors

5

29,372

600

Cash at bank

9,793

56,132

72,373

77,315

CREDITORS

Amounts falling due within one year

6

422,806

239,366

NET CURRENT LIABILITIES

(350,433

)

(162,051

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,682

154,923

CREDITORS

Amounts falling due after more than one year

7

11,167

126,875

NET ASSETS

4,515

28,048

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,415

27,948

SHAREHOLDERS' FUNDS

4,515

28,048

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 June 2026 and were signed by:

D L Phillips - Director

1.	STATUTORY INFORMATION

Phillips Steel Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2025

440,238

8,213

129,958

578,409

Additions

100,105

1,608

61,986

163,699

Disposals

(54,249

)

(3,556

)

(76,494

)

(134,299

)

At 31 March 2026

486,094

6,265

115,450

607,809

DEPRECIATION

At 1 April 2025

170,386

5,302

85,747

261,435

Charge for year

33,870

942

19,238

54,050

Eliminated on disposal

(22,990

)

(3,556

)

(47,245

)

(73,791

)

At 31 March 2026

181,266

2,688

57,740

241,694

NET BOOK VALUE

At 31 March 2026

304,828

3,577

57,710

366,115

At 31 March 2025

269,852

2,911

44,211

316,974

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 April 2025

34,750

Additions

47,500

At 31 March 2026

82,250

DEPRECIATION

At 1 April 2025

3,475

Charge for year

7,877

At 31 March 2026

11,352

NET BOOK VALUE

At 31 March 2026

70,898

At 31 March 2025

31,275

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

6,336

600

Other debtors

23,036

-

29,372

600

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

20,343

61,267

Hire purchase contracts

27,542

26,667

Trade creditors

263,902

16,755

Taxation and social security

100,661

79,312

Other creditors

10,358

55,365

422,806

239,366

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans

-

107,500

Hire purchase contracts

11,167

19,375

11,167

126,875

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.26

31.3.25

£

£

Bank overdrafts

17,843

21,267

Bank loans

2,500

147,500

Hire purchase contracts

38,709

46,042

59,052

214,809

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2026 and 31 March 2025:

31.3.26

31.3.25

£

£

D L Phillips

Balance outstanding at start of year

-

121,676

Amounts advanced

9,536

-

Amounts repaid

-

(121,676

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,536

-

10.	ULTIMATE CONTROLLING PARTY

The company has a diversified shareholding and a single ultimate controlling party cannot be identified.