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Phil Chapman Builders Limited |
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Unaudited Financial Statements for the Year Ended 30 November 2021 |
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REGISTERED NUMBER:
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Phil Chapman Builders Limited |
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Unaudited Financial Statements for the Year Ended 30 November 2021 |
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Phil Chapman Builders Limited (Registered number: 04964041) |
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Contents of the Financial Statements |
for the Year Ended 30 November 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Phil Chapman Builders Limited |
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Company Information |
for the Year Ended 30 November 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Atlantic House |
8 Bell Lane |
Bellbrook Industrial Estate |
Uckfield |
East Sussex |
TN22 1QL |
Phil Chapman Builders Limited (Registered number: 04964041) |
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Balance Sheet |
30 November 2021 |
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2021 | 2020 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR |
7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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141,066 |
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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. |
Phil Chapman Builders Limited (Registered number: 04964041) |
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Balance Sheet - continued |
30 November 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Phil Chapman Builders Limited (Registered number: 04964041) |
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Notes to the Financial Statements |
for the Year Ended 30 November 2021 |
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1. | STATUTORY INFORMATION |
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Phil Chapman Builders Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents revenue, net of VAT, from commercial transactions under which the company supplies customers the goods and services that it is in business to provide and it is recognised when it obtains, through performance under contract, the right to consideration for these goods and services. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. |
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Website costs are amortised evenly over the estimated useful life of five years. |
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Tangible fixed assets |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
Phil Chapman Builders Limited (Registered number: 04964041) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Going concern |
The directors have assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. This assessment has been required in the light of the significant uncertainty around the short to medium term impact of the spread of the Covid-19 virus. At the time of approving the financial statements the directors believe that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next 12 months and thus conclude that the going concern basis remains appropriate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 December 2020 |
and 30 November 2021 |
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AMORTISATION |
At 1 December 2020 |
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Charge for year |
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At 30 November 2021 |
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NET BOOK VALUE |
At 30 November 2021 |
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At 30 November 2020 |
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Phil Chapman Builders Limited (Registered number: 04964041) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
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5. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 December 2020 |
and 30 November 2021 |
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DEPRECIATION |
At 1 December 2020 |
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Charge for year |
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At 30 November 2021 |
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NET BOOK VALUE |
At 30 November 2021 |
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At 30 November 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
as | restated |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
as | restated |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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Phil Chapman Builders Limited (Registered number: 04964041) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
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Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
150 | Ordinary A | £0.10 | 15 | 15 |
150 | Ordinary B | £0.10 | 15 | 15 |
650 | Ordinary C | £0.10 | 65 | 65 |
50 | Ordinary D | £0.10 | 5 | 5 |
100 | 100 |
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A, B, C and D shares all rank pari passu. |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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During the year the company made advances to the directors totalling £318 (2020 - £312). At the balance sheet date the company owed the directors £1,936 (2020 - £2,254). These loans are unsecured, interest free and repayable on demand. |
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10. | RELATED PARTY DISCLOSURES |
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During the year, the company paid dividends to its directors totalling £64,920 (2020 - £70,960). |