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2020-11-30
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No description of principal activities is disclosed
2019-12-01
Sage Accounts Production 2020 Update 1 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
05421531
2019-12-01
2020-11-30
05421531
2020-11-30
05421531
2019-11-30
05421531
2018-12-01
2019-11-30
05421531
2019-11-30
05421531
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-12-01
2020-11-30
05421531
core:LandBuildings
core:LongLeaseholdAssets
2019-12-01
2020-11-30
05421531
core:FurnitureFittingsToolsEquipment
2019-12-01
2020-11-30
05421531
core:MotorVehicles
2019-12-01
2020-11-30
05421531
bus:RegisteredOffice
2019-12-01
2020-11-30
05421531
bus:LeadAgentIfApplicable
2019-12-01
2020-11-30
05421531
bus:Director1
2019-12-01
2020-11-30
05421531
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-11-30
05421531
core:LandBuildings
core:LongLeaseholdAssets
2019-11-30
05421531
core:FurnitureFittingsToolsEquipment
2019-11-30
05421531
core:MotorVehicles
2019-11-30
05421531
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-11-30
05421531
core:LandBuildings
core:LongLeaseholdAssets
2020-11-30
05421531
core:PlantMachinery
2020-11-30
05421531
core:FurnitureFittingsToolsEquipment
2020-11-30
05421531
core:MotorVehicles
2020-11-30
05421531
core:WithinOneYear
2020-11-30
05421531
core:WithinOneYear
2019-11-30
05421531
core:AfterOneYear
2020-11-30
05421531
core:AfterOneYear
2019-11-30
05421531
core:ShareCapital
2020-11-30
05421531
core:ShareCapital
2019-11-30
05421531
core:RetainedEarningsAccumulatedLosses
2020-11-30
05421531
core:RetainedEarningsAccumulatedLosses
2019-11-30
05421531
core:PlantMachinery
2019-12-01
2020-11-30
05421531
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-11-30
05421531
core:LandBuildings
core:LongLeaseholdAssets
2019-11-30
05421531
core:FurnitureFittingsToolsEquipment
2019-11-30
05421531
core:MotorVehicles
2019-11-30
05421531
bus:SmallEntities
2019-12-01
2020-11-30
05421531
bus:AuditExemptWithAccountantsReport
2019-12-01
2020-11-30
05421531
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2019-12-01
2020-11-30
05421531
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2019-12-01
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05421531
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2019-12-01
2020-11-30
Company registration number:
05421531
Phillip Holden (Rural) Limited
Unaudited filleted financial statements
30 November 2020
Phillip Holden (Rural) Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Phillip Holden (Rural) Limited
Directors and other information
|
|
|
|
Director
|
Mr A Holden
|
|
|
|
|
|
|
|
Company number
|
05421531
|
|
|
|
|
|
|
|
Registered office
|
Harmire Enterprise Park
|
|
|
Barnard Castle
|
|
|
Co Durham
|
|
|
DL12 8XT
|
|
|
|
|
|
|
|
Accountants
|
Chipchase Manners
|
|
|
15 Newbiggin
|
|
|
Richmond
|
|
|
North Yorkshire
|
|
|
DL10 4DR
|
|
|
|
Phillip Holden (Rural) Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Phillip Holden (Rural) Limited
Year ended 30 November 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Phillip Holden (Rural) Limited for the year ended 30 November 2020 which comprise the Balance Sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Phillip Holden (Rural) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Phillip Holden (Rural) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phillip Holden (Rural) Limited and its director as a body for our work or for this report.
It is your duty to ensure that Phillip Holden (Rural) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Phillip Holden (Rural) Limited. You consider that Phillip Holden (Rural) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Phillip Holden (Rural) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chipchase Manners
Chartered Accountants
15 Newbiggin
Richmond
North Yorkshire
DL10 4DR
7 May 2021
Phillip Holden (Rural) Limited
Balance sheet
30 November 2020
|
|
|
2020
|
|
|
|
2019
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
5
|
239,489
|
|
|
|
245,115
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
239,489
|
|
|
|
245,115
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
226,854
|
|
|
|
242,486
|
|
|
Debtors
|
|
6
|
147,785
|
|
|
|
179,939
|
|
|
Cash at bank and in hand
|
|
|
6,480
|
|
|
|
12,528
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
381,119
|
|
|
|
434,953
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
7
|
(
369,326)
|
|
|
|
(
413,886)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
11,793
|
|
|
|
21,067
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
251,282
|
|
|
|
266,182
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
8
|
|
|
(
227,771)
|
|
|
|
(
226,405)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
23,511
|
|
|
|
39,777
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
36
|
|
|
|
36
|
Profit and loss account
|
|
|
|
|
23,475
|
|
|
|
39,741
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
23,511
|
|
|
|
39,777
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Profit and loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
07 May 2021
, and are signed on behalf of the board by:
Mr A Holden
Director
Company registration number:
05421531
Phillip Holden (Rural) Limited
Notes to the financial statements
Year ended 30 November 2020
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Harmire Enterprise Park, Barnard Castle, Co Durham, DL12 8XT.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold property
|
-
|
0.8 %
|
straight line
|
|
Long leasehold property
|
-
|
0.8 %
|
straight line
|
|
Fittings fixtures and equipment
|
-
|
20 %
|
straight line
|
|
Motor vehicles
|
-
|
25 %
|
straight line
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, 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 as compensation for expenses or losses already incurred or 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. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satsfied, no adjustment is made irrespective of whether market or non-vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately. Cash-settled share-based payment transactions are measured at the fair value of the liability. Until the liability is settled, the fair value of the liability is re-measured at each reporting date and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2019:
5
).
5.
Tangible assets
|
|
Freehold property
|
Long leasehold property
|
Plant and machinery
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Total
|
|
|
|
£
|
£
|
£
|
£
|
£
|
£
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 December 2019
|
223,122
|
38,000
|
-
|
39,763
|
52,490
|
353,375
|
|
|
Additions
|
-
|
-
|
3,795
|
893
|
-
|
4,688
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
At 30 November 2020
|
223,122
|
38,000
|
3,795
|
40,656
|
52,490
|
358,063
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 December 2019
|
23,170
|
3,774
|
-
|
34,519
|
46,797
|
108,260
|
|
|
Charge for the year
|
1,785
|
304
|
633
|
1,899
|
5,693
|
10,314
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
At 30 November 2020
|
24,955
|
4,078
|
633
|
36,418
|
52,490
|
118,574
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 30 November 2020
|
198,167
|
33,922
|
3,162
|
4,238
|
-
|
239,489
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
At 30 November 2019
|
199,952
|
34,226
|
-
|
5,244
|
5,693
|
245,115
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
144,407
|
179,439
|
|
Other debtors
|
|
3,378
|
500
|
|
|
|
_______
|
_______
|
|
|
|
147,785
|
179,939
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
59,972
|
134,011
|
|
Trade creditors
|
|
286,389
|
270,867
|
|
Corporation tax
|
|
6,520
|
-
|
|
Social security and other taxes
|
|
11,067
|
2,327
|
|
Other creditors
|
|
5,378
|
6,681
|
|
|
|
_______
|
_______
|
|
|
|
369,326
|
413,886
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
73,482
|
68,389
|
|
Other creditors
|
|
154,289
|
158,016
|
|
|
|
_______
|
_______
|
|
|
|
227,771
|
226,405
|
|
|
|
_______
|
_______
|
|
|
|
|
|