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REGISTERED NUMBER: 04392694 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 31 March 2023

for

Pharos Building Services Limited

Pharos Building Services Limited (Registered number: 04392694)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Pharos Building Services Limited (Registered number: 04392694)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 81,000 100,000

CURRENT ASSETS
Debtors 538 204,379
Cash at bank 205,555 7,635
206,093 212,014
CREDITORS
Amounts falling due within one year 1,210 8,567
NET CURRENT ASSETS 204,883 203,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

285,883

303,447

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 285,783 303,347
285,883 303,447

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Pharos Building Services Limited (Registered number: 04392694)

Abridged Balance Sheet - continued
31 March 2023


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 Balance Sheet for the year ended 31 March 2023 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 director and authorised for issue on 13 September 2023 and were signed by:





Mr R W Apted - Director


Pharos Building Services Limited (Registered number: 04392694)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Pharos Building Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04392694

Registered office: Keytec 7 Business Park
26-28 Kempton Road
Pershore
Worcestershire
WR10 2TA

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Financial statements prepared on a basis other than going concern
The company intends to cease trading and dispose of investment property and as a result is not considered a going concern. Although the company is not a going concern, investment properties have been treated as fixed assets in the current financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Pharos Building Services Limited (Registered number: 04392694)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised when the company becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally 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.

Basic Financial Assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pharos Building Services Limited (Registered number: 04392694)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 100,000
Revaluations (19,000 )
At 31 March 2023 81,000
NET BOOK VALUE
At 31 March 2023 81,000
At 31 March 2022 100,000

The year end market value of investment property has been determined by the director based on expected sales proceeds.

The historical cost of investment property is £153,485 (2022 - £153,485).

5. ULTIMATE CONTROLLING PARTY

The controlling party is Apted Group Ltd, a company registered in England and Wales.

The registered address is 26-28 Kempton Road, Keytec 7 Business Park, Pershore, Worcestershire, WR10 2TA.

The ultimate controlling party is Mrs J M Apted by virtue of her controlling interest in the parent company.

6. CHARGES

There is a debenture in place at the year end by the company's bankers. The debenture is secured by way of fixed and floating charges over all assets and undertakings of the company.