Phil Fallows Limited - Filleted accounts

Registered number

04657053

Phil Fallows Limited

Unaudited Filleted Accounts

For the Year Ended

28 February 2026

Phil Fallows Limited
Registered number:		04657053
Balance Sheet
as at 28 February 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	4		44,147			15,767

Current assets
Stocks		1,535			1,580
Debtors	5	328			-
Cash at bank and in hand		13,079			8,733
		14,942			10,313

Creditors: amounts falling due within one year	6	(33,713)			(16,275)

Net current liabilities			(18,771)			(5,962)

Total assets less current liabilities			25,376			9,805


Provisions for liabilities			(6,491)			(2,995)


Net assets			18,885			6,810

Capital and reserves
Called up share capital			100			100
Profit and loss account			18,785			6,710

Shareholders' funds			18,885			6,810

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 members have 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.


P L Fallows
Director
Approved by the board on 28 September 2026

Phil Fallows Limited
Notes to the Accounts
for the year ended 28 February 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:

	Fixtures, fittings and equipment	10% reducing balance
	Motor vehicles	25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			3		3


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 March 2025					15,000
	At 28 February 2026					15,000

	Amortisation
	At 1 March 2025					15,000
	At 28 February 2026					15,000

	Net book value
	At 28 February 2026					-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.


4	Tangible fixed assets
		Fixtures, fittings and equipment		Motor vehicles		Total
£			£		£
	Cost
	At 1 March 2025	23,224		17,500		40,724
	Additions	330		39,000		39,330
	Disposals	-		(17,500)		(17,500)
	At 28 February 2026	23,554		39,000		62,554

	Depreciation
	At 1 March 2025	14,225		10,732		24,957
	Charge for the year	932		3,250		4,182
	On disposals	-		(10,732)		(10,732)
	At 28 February 2026	15,157		3,250		18,407

	Net book value
	At 28 February 2026	8,397		35,750		44,147
	At 28 February 2025	8,999		6,768		15,767


5	Debtors			2026		2025
£					£

	Other debtors			328		-


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

	Taxation and social security costs			940		4,956
	Other creditors			32,773		11,319
				33,713		16,275


7	Controlling party

	The controlling party is P L Fallows by virtue of his ownership of 80% of the issued ordinary share capital in the company.


8	Other information

	Phil Fallows Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Victoria House, 7 The Promenade
	Arnside
	Lancashire
	LA5 0HF