Philip Coverdale Limited - Accounts to registrar (filleted) - small 22.3

Philip Coverdale Limited - Accounts to registrar (filleted) - small 22.3

PHILIP COVERDALE LIMITED - Company Information

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REGISTERED NUMBER: 04067347 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 October 2022

for

Philip Coverdale Limited
Philip Coverdale Limited (Registered number: 04067347)

Contents of the Financial Statements
For The Year Ended 31 October 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Philip Coverdale Limited

Company Information
For The Year Ended 31 October 2022







DIRECTOR: P L W Coverdale





REGISTERED OFFICE: 16-19 Harolds Road
Pinnacles
Harlow
Essex
CM19 5BJ





REGISTERED NUMBER: 04067347 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET
Page 1
Philip Coverdale Limited (Registered number: 04067347)

Statement of Financial Position
31 October 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,200,000 1,200,000
Investments 5 1,000,000 1,000,000
2,200,000 2,200,000

CURRENT ASSETS
Cash at bank 65,295 46,346

CREDITORS
Amounts falling due within one year 6 33,898 17,180
NET CURRENT ASSETS 31,397 29,166
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,231,397
2,229,166

PROVISIONS FOR LIABILITIES 7 38,345 38,345
NET ASSETS 2,193,052 2,190,821

CAPITAL AND RESERVES
Called up share capital 8 2,000,100 2,000,100
Revaluation reserve 9 161,655 161,655
Retained earnings 31,297 29,066
SHAREHOLDERS' FUNDS 2,193,052 2,190,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 3 April 2023 and were signed by:





P L W Coverdale - Director


The notes form part of these financial statements

Page 2
Philip Coverdale Limited (Registered number: 04067347)

Notes to the Financial Statements
For The Year Ended 31 October 2022


1. STATUTORY INFORMATION

Philip Coverdale 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not depreciated

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.


Page 3 continued...
Philip Coverdale Limited (Registered number: 04067347)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2022


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - NIL ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 November 2021
and 31 October 2022 1,200,000
NET BOOK VALUE
At 31 October 2022 1,200,000
At 31 October 2021 1,200,000

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2021
and 31 October 2022 1,000,000
NET BOOK VALUE
At 31 October 2022 1,000,000
At 31 October 2021 1,000,000

Page 4 continued...
Philip Coverdale Limited (Registered number: 04067347)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2022


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Taxation and social security 33,091 16,372
Other creditors 807 808
33,898 17,180

7. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 38,345 38,345

Deferred
tax
£   
Balance at 1 November 2021 38,345
Balance at 31 October 2022 38,345

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
20,001,000 Ordinary £1 2,000,100 2,000,100

9. RESERVES
Revaluation
reserve
£   
At 1 November 2021
and 31 October 2022 161,655

Page 5