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REGISTERED NUMBER: 10011946 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PHANES MEDICAL LTD

PHANES MEDICAL LTD (REGISTERED NUMBER: 10011946)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PHANES MEDICAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: O Ojutiku
Dr D Ojutiku
Mrs F O O Ojutiku
D Ojutiku





REGISTERED OFFICE: 66 Sebastian Avenue
Brentwood
Essex
CM15 8PP





REGISTERED NUMBER: 10011946 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

PHANES MEDICAL LTD (REGISTERED NUMBER: 10011946)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 912 1,361
Investments 5 11,000 11,000
11,912 12,361

CURRENT ASSETS
Debtors 6 59,268 38,233
Cash at bank 55,656 43,590
114,924 81,823
CREDITORS
Amounts falling due within one year 7 (32,103 ) (26,252 )
NET CURRENT ASSETS 82,821 55,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

94,733

67,932

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 94,731 67,930
SHAREHOLDERS' FUNDS 94,733 67,932

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 18 December 2023 and were signed on its behalf by:



Dr D Ojutiku - Director


PHANES MEDICAL LTD (REGISTERED NUMBER: 10011946)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Phanes Medical Ltd 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.

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2022
and 28 February 2023 2,670
DEPRECIATION
At 1 March 2022 1,309
Charge for year 449
At 28 February 2023 1,758
NET BOOK VALUE
At 28 February 2023 912
At 28 February 2022 1,361

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2022
and 28 February 2023 11,000
NET BOOK VALUE
At 28 February 2023 11,000
At 28 February 2022 11,000

PHANES MEDICAL LTD (REGISTERED NUMBER: 10011946)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 57,468 36,433
Other debtors 1,800 1,800
59,268 38,233

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Taxation and social security (430 ) (5,709 )
Other creditors 32,533 31,961
32,103 26,252

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
2 Ordinary £1 2 2

9. RESERVES
Retained
earnings
£   

At 1 March 2022 67,930
Profit for the year 26,801
At 28 February 2023 94,731