Phillips Animal Health Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01245416

Phillips Animal Health Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2026

Phillips Animal Health Limited

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Intangible assets	5	33,550	–
Tangible assets	6	422,736	422,433
		----------	----------
		456,286	422,433

Current assets

Stocks		416,872	369,018
Debtors	7	350,072	336,672
Investments	8	1,066	1,066
Cash at bank and in hand		280,645	245,776
		------------	----------
		1,048,655	952,532

Creditors: amounts falling due within one year	9	669,573		556,277
		------------		----------
Net current assets			379,082	396,255
			----------	----------
Total assets less current liabilities			835,368	818,688

Creditors: amounts falling due after more than one year	10		–	1,816

Provisions

Deferred taxation	41,087	38,982
	----------	----------
Net assets	794,281	777,890
	----------	----------

Capital and reserves

Called up share capital	6,500	6,500
Capital redemption reserve	3,500	3,500
Profit and loss account	784,281	767,890
	----------	----------
Shareholders funds	794,281	777,890
	----------	----------

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 .

Phillips Animal Health Limited

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 4 November 2026 , and are signed on behalf of the board by:

M D Phillips	P Phillips
Director	Director

Company registration number: 01245416

Phillips Animal Health 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 England and Wales. The address of the registered office is Achurch Road, Holmes Way, Boston Road Industrial Estate, Horncastle, Lincolnshire, LN9 6AS.

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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of income and retained earnings.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold land and buildings	-	2% straight line
Fixtures and equipment	-	15% & 25% reducing balance, 33% straight line
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 includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Defined contribution pension plans

Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 19 (2025: 17 ).

5. Intangible assets

	Goodwill	Website	Total
	£	£	£
Cost
At 1 April 2025	23,974	–	23,974
Additions	–	33,550	33,550
	--------	--------	--------
At 31 March 2026	23,974	33,550	57,524
	--------	--------	--------
Amortisation
At 1 April 2025 and 31 March 2026	23,974	–	23,974
	--------	--------	--------
Carrying amount
At 31 March 2026	–	33,550	33,550
	--------	--------	--------
At 31 March 2025	–	–	–
	--------	--------	--------

6. Tangible assets

	Freehold land and buildings	Fixtures and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2025	420,831	173,335	196,691	790,857
Additions	–	1,978	55,491	57,469
	----------	----------	----------	----------
At 31 March 2026	420,831	175,313	252,182	848,326
	----------	----------	----------	----------
Depreciation
At 1 April 2025	163,980	126,376	78,068	368,424
Charge for the year	7,537	9,505	40,124	57,166
	----------	----------	----------	----------
At 31 March 2026	171,517	135,881	118,192	425,590
	----------	----------	----------	----------
Carrying amount
At 31 March 2026	249,314	39,432	133,990	422,736
	----------	----------	----------	----------
At 31 March 2025	256,851	46,959	118,623	422,433
	----------	----------	----------	----------

7. Debtors

	2026	2025
	£	£
Trade debtors	335,474	324,868
Other debtors	14,598	11,804
	----------	----------
	350,072	336,672
	----------	----------

8. Investments

	2026	2025
	£	£
Current asset investments	1,066	1,066
	-------	-------

The investment is held in Downland Marketing Ltd, an unlisted company, and is stated at cost. The company holds 125 shares which represents 3.7% of the total shares.

9. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans	1,137	6,015
Trade creditors	579,191	460,055
Social security and other taxes	67,303	73,518
Other creditors	21,942	16,689
	----------	----------
	669,573	556,277
	----------	----------

The bank loan of £1,137 (2025 - £6,015) has been provided to the company under the Bounce Back Loan Scheme.

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

	2026	2025
	£	£
Bank loans	–	1,816
	----	-------

The bank loan of £nil (2025 - £1,816) has been provided to the company under the Bounce Back Loan Scheme.

11. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2026	2025
	£	£
Included in provisions	41,087	38,982
	--------	--------

12. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2026	2025
	£	£

Recognised in creditors:

Deferred government grants due within one year	12,246	7,048
	--------	-------