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REGISTERED NUMBER: 12870967 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

CAN-PHANTOM LIMITED

CAN-PHANTOM LIMITED (REGISTERED NUMBER: 12870967)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


CAN-PHANTOM LIMITED (REGISTERED NUMBER: 12870967)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,817 157

CURRENT ASSETS
Debtors 5 39,114 49,296
Cash at bank 35,000 9,510
74,114 58,806
CREDITORS
Amounts falling due within one year 6 261,355 107,199
NET CURRENT LIABILITIES (187,241 ) (48,393 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(164,424

)

(48,236

)

CREDITORS
Amounts falling due after more than one year 7 123,417 118,679
NET LIABILITIES (287,841 ) (166,915 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (287,941 ) (167,015 )
SHAREHOLDERS' FUNDS (287,841 ) (166,915 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CAN-PHANTOM LIMITED (REGISTERED NUMBER: 12870967)

Balance Sheet - continued
30 September 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:





Mr S Stone - Director


CAN-PHANTOM LIMITED (REGISTERED NUMBER: 12870967)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Can-Phantom 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: 12870967

Registered office: Tollgate Court Business Centre Tollgate
Tollgate Industrial Estate
Stafford
ST16 3HS

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.

The financial statements have been prepared on a going concern basis because the company is in its infancy and is engaged in the development of new products that it hopes to take to market. The directors are fully supporting the company.

Turnover
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

CAN-PHANTOM LIMITED (REGISTERED NUMBER: 12870967)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022 - 467 467
Additions 30,423 - 30,423
At 30 September 2023 30,423 467 30,890
DEPRECIATION
At 1 October 2022 - 310 310
Charge for year 7,606 157 7,763
At 30 September 2023 7,606 467 8,073
NET BOOK VALUE
At 30 September 2023 22,817 - 22,817
At 30 September 2022 - 157 157

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors - 2,999
Other debtors 39,114 46,297
39,114 49,296

CAN-PHANTOM LIMITED (REGISTERED NUMBER: 12870967)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 47,008 18,432
Trade creditors - 2,457
Taxation and social security 27,718 12,098
Other creditors 186,629 74,212
261,355 107,199

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 123,417 118,679

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Secured bank loan 119,252 98,989

Coventry & Warwickshire Reinvestment Trust Ltd have a fixed and floating charge over the property or undertakings of the company as security for its loan to the company.