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Registration number: 11127606

Phebi Limited

Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Phebi Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Phebi Limited

Company Information

Directors

Mr M H Page

Mr K D I Morjan

Company secretary

Mr Ian Stanley Durrell

Mark Battaglia

Registered office

38 Rumbridge Street
Totton
Southampton
Hampshire
SO40 9DS

Accountants

R A Jones & Co
Chartered Accountants
38 Rumbridge Street
Totton
Southampton
Hampshire
SO40 9DS

 

Phebi Limited

(Registration number: 11127606)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

339

114

Current assets

 

Debtors

5

41,907

39,732

Cash at bank and in hand

 

4,679

4,381

 

46,586

44,113

Creditors: Amounts falling due within one year

6

(184,605)

(119,350)

Net current liabilities

 

(138,019)

(75,237)

Net liabilities

 

(137,680)

(75,123)

Capital and reserves

 

Called up share capital

973

612

Profit and loss account

(138,653)

(75,735)

Shareholders' deficit

 

(137,680)

(75,123)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. Therefore the Directors' Report and the Profit and Loss Account have not been filed.

Approved and authorised by the Board on 15 August 2022 and signed on its behalf by:
 

Mr M H Page

Director

 

Phebi Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
38 Rumbridge Street
Totton
Southampton
Hampshire
SO40 9DS
England

The principal place of business is:
Flat 6, Mercury House
59 High Street
Feltham
TW13 4EZ
England

These financial statements were authorised for issue by the Board on 15 August 2022.

2

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The accounts have been prepared on a going concern basis as the directors and shareholders will continue to support the company throughout its development phase.

Revenue recognition

Turnover represents amounts chargeable in respect of the provision of services to customers.

Revenue is recognised to the extent that the company obtains the right to consideration for its' performance.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Phebi Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.33% reducing balance basis

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2020 - 2).

 

Phebi Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2021

257

257

Additions

395

395

At 31 December 2021

652

652

Depreciation

At 1 January 2021

143

143

Charge for the year

170

170

At 31 December 2021

313

313

Carrying amount

At 31 December 2021

339

339

At 31 December 2020

114

114

5

Debtors

2021
£

2020
£

Trade debtors

4,791

13,584

Prepayments

1,609

370

Other debtors

35,507

25,778

41,907

39,732

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Trade creditors

4,193

-

Taxation and social security

6,126

-

Accruals and deferred income

96,464

36,441

Other creditors

77,822

82,909

184,605

119,350

7

Related party transactions

Loans to and from directors are interest free, unsecured and repayable on demand.

 

Phebi Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Transactions with directors

2021

At 1 January 2021
£

Advances to directors
£

Repayments by director
£

At 31 December 2021
£

Mr K D I Morjan

Director's loan account movements

23,779

10,869

(34,707)

(59)

         
       

 

2020

At 1 January 2020
£

Advances to directors
£

Repayments by director
£

At 31 December 2020
£

Mr K D I Morjan

Director's loan account movements

-

24,067

(288)

23,779