L&E Philip Holdings Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC657190

L&E Philip Holdings Limited

Filleted Unaudited Financial Statements

31 March 2026

L&E Philip Holdings Limited

Financial Statements

Year ended 31 March 2026

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

L&E Philip Holdings Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of L&E Philip Holdings Limited

Year ended 31 March 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of L&E Philip Holdings Limited for the year ended 31 March 2026, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of L&E Philip Holdings Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of L&E Philip Holdings Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than L&E Philip Holdings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that L&E Philip 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 L&E Philip Holdings Limited. You consider that L&E Philip 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 L&E Philip 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.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

27 August 2026

L&E Philip Holdings Limited

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	4	550,000	550,000
Investments	5	10,000	10,000
		---------	---------
		560,000	560,000

Current assets

Debtors	6	199	799
Cash at bank and in hand		31,098	13,857
		--------	--------
		31,297	14,656

Creditors: amounts falling due within one year	7	3,469		3,469
		--------		--------
Net current assets			27,828	11,187
			---------	---------
Total assets less current liabilities			587,828	571,187

Provisions

Taxation including deferred tax	70,000	70,000
	---------	---------
Net assets	517,828	501,187
	---------	---------

Capital and reserves

Called up share capital	10,000	10,000
Other reserves	210,000	210,000
Profit and loss account	297,828	281,187
	---------	---------
Shareholders funds	517,828	501,187
	---------	---------

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 income and retained earnings has not been delivered.

For the year ending 31 March 2026 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 .

L&E Philip Holdings Limited

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 27 August 2026 , and are signed on behalf of the board by:

Mrs E Philip

Director

Company registration number: SC657190

L&E Philip Holdings Limited

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Investments

Interest in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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 as a finance cost in profit or loss in the period it arises.

Financial instruments

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

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received,net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

4. Tangible assets

	Freehold property
	£
Cost
At 1 April 2025 and 31 March 2026	550,000
	---------
Depreciation
At 1 April 2025 and 31 March 2026	–
	---------
Carrying amount
At 31 March 2026	550,000
	---------
At 31 March 2025	550,000
	---------

The fair value of the investment property has been arrived at on the basis of a valuation carried out by Whyte & Barrie, who are not connected with the company. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

5. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2025 and 31 March 2026	10,000
	--------
Impairment
At 1 April 2025 and 31 March 2026	–
	--------

Carrying amount
At 31 March 2026	10,000
	--------
At 31 March 2025	10,000
	--------

Details of the company's subsidiary at 31 March 2026 is as follows:

Name of undertaking - Quality Trade Windows Limited

Registered Office - 216 West George Street, Glasgow, Scotland G2 2PQ

Class of shares held - Ordinary

% held Direct - 100%

6. Debtors

	2026	2025
	£	£
Amounts owed by group undertakings	199	799
	----	----

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Accruals and deferred income	3,240	3,240
Director loan accounts	229	229
	-------	-------
	3,469	3,469
	-------	-------

8. Directors' advances, credits and guarantees

Included in Creditors is £229 (2025 - £229) due to the directors. The loan is unsecured, interest free and repayable on demand.

9. Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. Controlling party

The company was under the control of the directors during the year.