Philbert Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06914781 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2020

for

Philbert Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J J B Casarotto

N A Clay

S McQueen

N Parkinson

REGISTERED OFFICE:

First Floor, St Johns House

16 Church Street

Bromsgrove

Worcestershire

B61 8DN

REGISTERED NUMBER:

06914781 (England and Wales)

ACCOUNTANTS:

Clay Knox Ltd

First Floor, St Johns House

16 Church Street

Bromsgrove

Worcestershire

B61 8DN

FIXED ASSETS

Tangible assets

5

1,796,351

1,843,628

Investments

6

696,583

474,657

2,492,934

2,318,285

CURRENT ASSETS

Debtors

1,084,903

334,220

Cash at bank

1,267,595

595,901

2,352,498

930,121

CREDITORS

Amounts falling due within one year

508,697

175,905

NET CURRENT ASSETS

1,843,801

754,216

TOTAL ASSETS LESS CURRENT LIABILITIES

4,336,735

3,072,501

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

4,336,734

3,072,500

SHAREHOLDERS' FUNDS

4,336,735

3,072,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2021 and were signed on its behalf by:

S McQueen - Director

1.	STATUTORY INFORMATION

Philbert 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

20% on reducing balance and 2% on cost

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2019

2,016,639

Additions

2,289

At 31 May 2020

2,018,928

DEPRECIATION

At 1 June 2019

173,011

Charge for year

49,566

At 31 May 2020

222,577

NET BOOK VALUE

At 31 May 2020

1,796,351

At 31 May 2019

1,843,628

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 June 2019

474,657

Additions

200,000

Revaluations

21,926

At 31 May 2020

696,583

NET BOOK VALUE

At 31 May 2020

696,583

At 31 May 2019

474,657

Cost or valuation at 31 May 2020 is represented by:

Totals

£

Valuation in 2019

(11,014

)

Valuation in 2020

21,926

Cost

685,671

696,583

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

as restated

£

£

1

Ordinary

£1

1

1

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2020 and 31 May 2019:

2020

2019

as restated

£

£

S McQueen

Balance outstanding at start of year

9,785

62

Amounts advanced

769,139

577,675

Amounts repaid

(43,479

)

(567,952

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

735,445

9,785

Interest was charged at a rate of 2.5%. The loan was provided with no fixed repayment terms and no security.