Castle Phillips (Holdings) Limited - Period Ending 2021-10-31
Castle Phillips (Holdings) Limited - Period Ending 2021-10-31
Registration number:
Castle Phillips (Holdings) Limited
for the Year Ended 31 October 2021
Castle Phillips (Holdings) Limited
Contents
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Company Information |
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Director's Report |
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Accountants' Report |
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Abridged Profit and Loss Account |
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Statement of Comprehensive Income |
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Abridged Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Abridged Financial Statements |
Castle Phillips (Holdings) Limited
Company Information
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Chairman |
Mr Alan John Phillips |
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Chief executive |
Mr Paul Smith |
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Director |
Anthony Mark Phillips |
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Company secretary |
Mrs Julie Dawn Smith |
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Registered office |
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Accountants |
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Castle Phillips (Holdings) Limited
Director's Report for the Year Ended 31 October 2021
The director presents his report and the abridged financial statements for the year ended 31 October 2021.
Director of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is in the year under review is provision of management services
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Castle Phillips (Holdings) Limited
for the Year Ended 31 October 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Castle Phillips (Holdings) Limited for the year ended 31 October 2021 as set out on pages 4 to 13 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/regulation.
This report is made solely to the Board of Directors of Castle Phillips (Holdings) 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 accounts of Castle Phillips (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of Castle Phillips (Holdings) Limited, 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 Castle Phillips (Holdings) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Castle Phillips (Holdings) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Castle Phillips (Holdings) Limited. You consider that Castle Phillips (Holdings) 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 accounts of Castle Phillips (Holdings) 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 accounts.
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Sturminster Newton
Dorset
DT10 1EU
Castle Phillips (Holdings) Limited
Abridged Profit and Loss Account for the Year Ended 31 October 2021
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Note |
2021 |
2020 |
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Gross profit |
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Administrative expenses |
( |
( |
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Other interest receivable and similar income |
- |
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Profit before tax |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Castle Phillips (Holdings) Limited
Statement of Comprehensive Income for the Year Ended 31 October 2021
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2021 |
2020 |
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Profit for the year |
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Total comprehensive income for the year |
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Castle Phillips (Holdings) Limited
(Registration number: 0933293)
Abridged Balance Sheet as at 31 October 2021
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Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
- |
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Investments |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
60,000 |
60,000 |
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Retained earnings |
190,324 |
106,833 |
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Shareholders' funds |
250,324 |
166,833 |
For the financial year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Castle Phillips (Holdings) Limited
(Registration number: 0933293)
Abridged Balance Sheet as at 31 October 2021
Approved and authorised by the
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Castle Phillips (Holdings) Limited
Statement of Changes in Equity for the Year Ended 31 October 2021
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Share capital |
Retained earnings |
Total |
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At 1 November 2020 |
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Profit for the year |
- |
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At 31 October 2021 |
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Share capital |
Retained earnings |
Total |
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At 1 November 2019 |
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Profit for the year |
- |
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At 31 October 2020 |
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Castle Phillips (Holdings) Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2021
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Castle Phillips (Holdings) Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2021
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Asset class |
Depreciation method and rate |
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10% Reducing Balance |
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20% Reducing Balance |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Castle Phillips (Holdings) Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2021
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Profit before tax |
Arrived at after charging/(crediting)
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2021 |
2020 |
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Depreciation expense |
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 November 2020 |
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Additions |
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At 31 October 2021 |
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Depreciation |
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At 1 November 2020 |
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Charge for the year |
- |
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At 31 October 2021 |
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Carrying amount |
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At 31 October 2021 |
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At 31 October 2020 |
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Included within the net book value of land and buildings above is £1,841,759 (2020 - £1,532,759) in respect of freehold land and buildings and £(21,554) (2020 - £(21,554)) in respect of long leasehold land and buildings.
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Current asset investments |
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2021 |
2020 |
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Shares in group undertakings |
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Share capital |
Allotted, called up and fully paid shares
Castle Phillips (Holdings) Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2021
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2021 |
2020 |
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No. |
£ |
No. |
£ |
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Ordinary of £1 each |
60,000 |
60,000 |
60,000 |
60,000 |
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Related party transactions |
Castle Phillips (Holdings) Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2021
Director's remuneration
The director's remuneration for the year was as follows:
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2021 |
2020 |
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Remuneration |
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- |