Company No: 05967108 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	0		14
		0		14
Current assets
Stocks		28,051		37,800
Debtors	5	1,966		3,076
Cash at bank and in hand		304		1,451
		30,321		42,327
Creditors: amounts falling due within one year	6	( 26,657)		( 20,214)
Net current assets		3,664		22,113
Total assets less current liabilities		3,664		22,127
Creditors: amounts falling due after more than one year	7	( 4,000)		( 22,000)
Provision for liabilities		0		( 3)
Net (liabilities)/assets		( 336)		124
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		( 436 )		24
Total shareholders' (deficit)/funds		( 336)		124

For the financial year ending 30 November 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of P & H Framing Limited (registered number: 05967108) were approved and authorised for issue by the Board of Directors on 25 August 2026. They were signed on its behalf by:

P A Raby Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

P & H Framing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 Pershore Close, Locks Heath, Southampton, Hants, SO31 6UF, United Kingdom. The principal place of business is 78 High Street, Fareham, Hampshire, PO16 7AW, Hampshire, PO16 7AW.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 5 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	depreciated over the life of the lease
Plant and machinery	4 years straight line
Computer equipment	3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 December 2024	35,000		35,000
At 30 November 2025	35,000		35,000
Accumulated amortisation
At 01 December 2024	35,000		35,000
At 30 November 2025	35,000		35,000
Net book value
At 30 November 2025	0		0
At 30 November 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Computer equipment		Total
	£		£		£		£
Cost
At 01 December 2024	1,738		10,725		2,504		14,967
At 30 November 2025	1,738		10,725		2,504		14,967
Accumulated depreciation
At 01 December 2024	1,738		10,711		2,504		14,953
Charge for the financial year	0		14		0		14
At 30 November 2025	1,738		10,725		2,504		14,967
Net book value
At 30 November 2025	0		0		0		0
At 30 November 2024	0		14		0		14

5. Debtors

	2025		2024
	£		£
Amounts owed by directors	500		1,714
Prepayments	1,361		1,362
Corporation tax	105		0
	1,966		3,076

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	13,884		12,473
Accruals	1,950		3,085
Taxation and social security	5,329		4,656
Other creditors	5,494		0
	26,657		20,214

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	4,000		22,000

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Financial commitments

Other financial commitments

	2025		2024
	£		£
Lease Commitments at the year end in respect of premises	27,778		44,444
	27,778		44,444

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Mrs H Raby	0		0
Balance outstanding at the start of the year	858		764
Amounts advanced	5,360		5,449
Amounts repaid	(5,968)		(5,355)
Balance outstanding at end of year	250		858
	0		0
Mr P Raby	0		0
Balance outstanding at the start of the year	858		764
Amounts advanced	2,755		6,851
Amounts repaid	(3,363)		(6,757)
Balance outstanding at end of year	250		858

The above advances and credits to directors subsisted during the years ended 30 November 2025 and 30 November 2024. Amounts owing at the end of 30 November 2025 have been repaid since the year end.