IRIS Accounts Production v23.2.0.158 07503173 director 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075031732022-03-31075031732023-03-31075031732022-04-012023-03-31075031732021-03-31075031732021-04-012022-03-31075031732022-03-3107503173ns10:Originalns15:EnglandWales2022-04-012023-03-3107503173ns14:PoundSterlingns10:Original2022-04-012023-03-3107503173ns10:Originalns10:Director12022-04-012023-03-3107503173ns10:Original2022-04-012023-03-3107503173ns10:Original2023-03-3107503173ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3107503173ns10:Originalns10:SmallEntities2022-04-012023-03-3107503173ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3107503173ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3107503173ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3107503173ns10:Originalns10:FullAccounts2022-04-012023-03-3107503173ns10:Original12022-04-012023-03-3107503173ns10:Originalns10:RegisteredOffice2022-04-012023-03-3107503173ns10:Original2022-03-3107503173ns10:Originalns5:CurrentFinancialInstruments2023-03-3107503173ns10:Originalns5:CurrentFinancialInstruments2022-03-3107503173ns5:ShareCapitalns10:Original2023-03-3107503173ns5:ShareCapitalns10:Original2022-03-3107503173ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3107503173ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3107503173ns10:Originalns5:NetGoodwill2022-04-012023-03-3107503173ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-04-012023-03-3107503173ns10:Originalns5:PlantMachinery2022-04-012023-03-3107503173ns10:Originalns5:FurnitureFittings2022-04-012023-03-3107503173ns10:Original2021-04-012022-03-3107503173ns10:Originalns5:NetGoodwill2022-03-3107503173ns10:Originalns5:NetGoodwill2023-03-3107503173ns10:Originalns5:NetGoodwill2022-03-3107503173ns10:Originalns5:LeaseholdImprovements2022-03-3107503173ns10:Originalns5:PlantMachinery2022-03-3107503173ns10:Originalns5:FurnitureFittings2022-03-3107503173ns10:Original2022-03-3107503173ns10:Originalns5:LeaseholdImprovements2022-04-012023-03-3107503173ns10:Originalns5:LeaseholdImprovements2023-03-3107503173ns10:Originalns5:PlantMachinery2023-03-3107503173ns10:Originalns5:FurnitureFittings2023-03-3107503173ns10:Originalns5:LeaseholdImprovements2022-03-3107503173ns10:Originalns5:PlantMachinery2022-03-3107503173ns10:Originalns5:FurnitureFittings2022-03-31
REGISTERED NUMBER: 07503173 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PHANTOM SCREEN PRINT LIMITED

PHANTOM SCREEN PRINT LIMITED (REGISTERED NUMBER: 07503173)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHANTOM SCREEN PRINT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: W J Pearson





REGISTERED OFFICE: Unit 2 JK,
Tescan Industrial Estate
Wilson Way
Pool
Cornwall
TR15 3RX





REGISTERED NUMBER: 07503173 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

PHANTOM SCREEN PRINT LIMITED (REGISTERED NUMBER: 07503173)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,000 15,000
Tangible assets 5 171,529 115,815
186,529 130,815

CURRENT ASSETS
Stocks 704 670
Debtors 6 5,221 7,552
Cash at bank 1,140 3,050
7,065 11,272
CREDITORS
Amounts falling due within one year 7 69,777 71,839
NET CURRENT LIABILITIES (62,712 ) (60,567 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

123,817

70,248

PROVISIONS FOR LIABILITIES 32,591 16,422
NET ASSETS 91,226 53,826

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 91,126 53,726
SHAREHOLDERS' FUNDS 91,226 53,826

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.

PHANTOM SCREEN PRINT LIMITED (REGISTERED NUMBER: 07503173)

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 October 2023 and were signed by:





W J Pearson - Director


PHANTOM SCREEN PRINT LIMITED (REGISTERED NUMBER: 07503173)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Phantom Screen Print 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

PHANTOM SCREEN PRINT LIMITED (REGISTERED NUMBER: 07503173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 30,000
AMORTISATION
At 1 April 2022
and 31 March 2023 15,000
NET BOOK VALUE
At 31 March 2023 15,000
At 31 March 2022 15,000

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2022 12,394 141,776 7,680 161,850
Additions - 86,423 - 86,423
At 31 March 2023 12,394 228,199 7,680 248,273
DEPRECIATION
At 1 April 2022 1,859 40,466 3,710 46,035
Charge for year 1,580 28,474 655 30,709
At 31 March 2023 3,439 68,940 4,365 76,744
NET BOOK VALUE
At 31 March 2023 8,955 159,259 3,315 171,529
At 31 March 2022 10,535 101,310 3,970 115,815

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 5,221 7,552

PHANTOM SCREEN PRINT LIMITED (REGISTERED NUMBER: 07503173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other loans 12,695 16,667
Trade creditors 5,471 16,232
Tax (11 ) (11 )
Social security and other taxes 6,303 479
Other creditors 191 97
Directors' current accounts 40,931 36,707
Accrued expenses 4,197 1,668
69,777 71,839

8. RELATED PARTY DISCLOSURES

The company is controlled by its directors Mr W J Pearson, by virtue of the fact that he owns 100% of the company's ordinary issued share capital.