Phillips & Southern Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03908052 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

PHILLIPS & SOUTHERN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H M Phillips

A Phillips

REGISTERED OFFICE:

Onslow Hall

Little Green

Richmond

London

TW9 1QS

REGISTERED NUMBER:

03908052 (England and Wales)

ACCOUNTANTS:

LMDB Accountants

Chartered Certified Accountants

Railview Lofts

19c Commercial Road

Eastbourne

East Sussex

BN21 3XE

FIXED ASSETS

Tangible assets

4

2,543

5,170

CURRENT ASSETS

Debtors

5

140,887

164,547

Cash at bank

59,166

39,711

200,053

204,258

CREDITORS

Amounts falling due within one year

6

95,592

127,110

NET CURRENT ASSETS

104,461

77,148

TOTAL ASSETS LESS CURRENT LIABILITIES

107,004

82,318

PROVISIONS FOR LIABILITIES

8

635

1,292

NET ASSETS

106,369

81,026

CAPITAL AND RESERVES

Called up share capital

9

130

Retained earnings

106,239

80,896

SHAREHOLDERS' FUNDS

106,369

81,026

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 directors acknowledge their 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 Board of Directors and authorised for issue on 23 September 2026 and were signed on its behalf by:

A Phillips - Director

1.	STATUTORY INFORMATION

Phillips & Southern 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.

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2025 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2025

7,501

45,347

52,848

Additions

-

1,639

At 31 March 2026

7,501

46,986

54,487

DEPRECIATION

At 1 April 2025

6,606

41,072

47,678

Charge for year

492

3,774

4,266

At 31 March 2026

7,098

44,846

51,944

NET BOOK VALUE

At 31 March 2026

403

2,140

2,543

At 31 March 2025

895

4,275

5,170

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

10,434

15,601

Other debtors

35,156

31,439

Directors' current accounts

34,523

34,899

Prepayments and accrued income

60,774

82,608

140,887

164,547

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

454

39,224

Tax

34,695

23,058

Social security and other taxes

18,831

12,448

VAT

14,477

12,412

Other creditors

22,459

31,969

Directors' current accounts

1,334

461

Accrued expenses

3,342

7,538

95,592

127,110

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

Within one year

58,866

38,238

Between one and five years

86,823

5,627

145,689

43,865

8.	PROVISIONS FOR LIABILITIES

2026

2025

£

Deferred tax

635

1,292

Deferred

tax

£

Balance at 1 April 2025

1,292

Accelerated capital allowances

(657

)

Balance at 31 March 2026

635

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

130

Ordinary

£1

130

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2026

2025

£

A Phillips

Balance outstanding at start of year

34,898

20,304

Amounts advanced

871

14,594

Amounts repaid

(1,247

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

34,522

34,898

H M Phillips

Balance outstanding at start of year

-

20,002

Amounts repaid

-

(20,002

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

The loans have no fixed repayment terms and interest was charged at 3.25%.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Harold Phillips by virtue of his shareholding in Harold Phillips and Company Limited the parent company.