Phillimore Estates Limited - Filleted accounts

Registered number

03885546

Phillimore Estates Limited

Filleted Accounts

31 March 2026

Phillimore Estates Limited
Registered number:		03885546
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		6,016,056			5,107,223

Current assets
Debtors	4	1,320			10,071
Cash at bank and in hand		228,887			238,350
		230,207			248,421

Creditors: amounts falling due within one year	5	(54,665)			(73,053)

Net current assets			175,542			175,368

Total assets less current liabilities			6,191,598			5,282,591


Provisions for liabilities			(944,399)			(717,103)


Net assets			5,247,199			4,565,488

Capital and reserves
Called up share capital			1,008			1,008
Revaluation reserve	6		4,194,482			3,512,593
Profit and loss account			1,051,709			1,051,887

Shareholders' funds			5,247,199			4,565,488

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.




Mark Phillimore
Director
Approved by the board on 23 September 2026

Phillimore Estates Limited
Notes to the Accounts
for the year ended 31 March 2026


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 received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	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 evenly over its expected useful life, as follows:

	Plant and machinery	25% Reducing balance
	Fixtures, fittings, tools and equipment	25% Reducing balance

	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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. 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.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			0		0


3	Tangible fixed assets
		Land and buildings		Property Improvements		Total
£			£		£
	Cost
	At 1 April 2025	5,105,815		35,844		5,141,659
	Surplus on revaluation	909,185		-		909,185
	At 31 March 2026	6,015,000		35,844		6,050,844

	Depreciation
	At 1 April 2025	-		34,436		34,436
	Charge for the year	-		352		352
	At 31 March 2026	-		34,788		34,788

	Net book value
	At 31 March 2026	6,015,000		1,056		6,016,056
	At 31 March 2025	5,105,815		1,408		5,107,223
	The land and buildings have been revalued in 2026, the Golf Course is valued at £5,180,000 and the other land is valued at £835,000 (Total £6,015,000).


4	Debtors			2026		2025
£					£

	Trade debtors			-		3,190
	Other debtors			1,320		6,881
				1,320		10,071


5	Creditors: amounts falling due within one year			2026		2025
£					£

	Trade creditors			(70)		16,176
	Taxation and social security costs			49,045		50,486
	Other creditors			5,690		6,391
				54,665		73,053


6	Revaluation reserve			2026		2025
£					£

	At 1 April 2025			3,512,593		3,512,593
	Movement in year			909,185		-
	Deferred taxation arising on the revaluation of land and buildings			(227,296)		-

	At 31 March 2026			4,194,482		3,512,593


7	Other information

	Phillimore Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
	SHMS House
	20 Little Park Farm Road
	Fareham
	Hampshire
	PO15 5TD