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COMPANY REGISTRATION NUMBER: 10764411
Phase3 Electrical Consulting Engineers Limited
Filleted Unaudited Abridged Financial Statements
31 March 2023
Phase3 Electrical Consulting Engineers Limited
Abridged Financial Statements
Period from 1 June 2022 to 31 March 2023
Contents
Page
Officers and professional advisers
1
Accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements
2
Abridged statement of financial position
3
Notes to the abridged financial statements
5
Phase3 Electrical Consulting Engineers Limited
Officers and Professional Advisers
The board of directors
Mr D Williams
Mr S J Growcott
Registered office
24 Defford Close
Webheath
Redditch
B97 5WR
Accountants
WH Audit Limited
Accountants
The White House
Station Road
West Hagley
Stourbridge
West Midlands
DY9 0NU
Phase3 Electrical Consulting Engineers Limited
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Phase3 Electrical Consulting Engineers Limited
Period from 1 June 2022 to 31 March 2023
As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the period ended 31 March 2023, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
WH Audit Limited Accountants
The White House Station Road West Hagley Stourbridge West Midlands DY9 0NU
28 September 2023
Phase3 Electrical Consulting Engineers Limited
Abridged Statement of Financial Position
31 March 2023
31 Mar 23
31 May 22
Note
£
£
Current assets
Debtors
6
6,236
353
Cash at bank and in hand
28,034
20,091
--------
--------
34,270
20,444
Creditors: amounts falling due within one year
7
12,345
9,338
--------
--------
Net current assets
21,925
11,106
--------
--------
Total assets less current liabilities
21,925
11,106
--------
--------
Net assets
21,925
11,106
--------
--------
Phase3 Electrical Consulting Engineers Limited
Abridged Statement of Financial Position (continued)
31 March 2023
31 Mar 23
31 May 22
Note
£
£
Capital and reserves
Called up share capital
100
1
Profit and loss account
21,825
11,105
--------
--------
Shareholders funds
21,925
11,106
--------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the period ending 31 March 2023 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 abridged financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 28 September 2023 , and are signed on behalf of the board by:
Mr D Williams
Director
Company registration number: 10764411
Phase3 Electrical Consulting Engineers Limited
Notes to the Abridged Financial Statements
Period from 1 June 2022 to 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Defford Close, Webheath, Redditch, B97 5WR.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
25% straight line
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 June 2022
Additions
5,299
Disposals
( 5,299)
-------
At 31 March 2023
-------
Depreciation
At 1 June 2022
Charge for the period
1,147
Disposals
( 1,147)
-------
At 31 March 2023
-------
Carrying amount
At 31 March 2023
-------
At 31 May 2022
-------
6. Debtors
31 Mar 23
31 May 22
£
£
Trade debtors
6,137
Other debtors
99
353
-------
----
6,236
353
-------
----
7. Creditors: amounts falling due within one year
31 Mar 23
31 May 22
£
£
Trade creditors
5,580
Accruals and deferred income
295
1,038
Corporation tax
2,598
2,599
Social security and other taxes
388
Director loan accounts
3,484
5,701
--------
-------
12,345
9,338
--------
-------