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Registered number: 10886886









PHOEBE TELECOMS LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2022

 
PHOEBE TELECOMS LTD
REGISTERED NUMBER:10886886

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2022
Unaudited 2021
Unaudited 2021
Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
39,658
46,853

  
39,658
46,853

Current assets
  

Debtors: amounts falling due within one year
 6 
452,034
303,301

Cash at bank and in hand
  
261,112
103,801

  
713,146
407,102

Creditors: amounts falling due within one year
 7 
(531,811)
(272,753)

Net current assets
  
 
 
181,335
 
 
134,349

Total assets less current liabilities
  
220,993
181,202

Provisions for liabilities
  

Deferred tax
 8 
(3,506)
(5,051)

  
 
 
(3,506)
 
 
(5,051)

Net assets
  
217,487
176,151


Capital and reserves
  

Called up share capital 
  
1,787
1,787

Profit and loss account
  
215,700
174,364

  
217,487
176,151


Page 1

 
PHOEBE TELECOMS LTD
REGISTERED NUMBER:10886886
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P Deparis
Director

Date: 3 April 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PHOEBE TELECOMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

Phoebe Telecoms Ltd is a private company limited by shares and is registered in England & Wales. The company's registration number is 10886886 and the registered office address is at 11 Old Jewry, London, EC2R 8DU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis.
The Directors have carefully reviewed the future prospects of the company and its future cash flows. Having assessed this the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future being at least the next 12 months from signing of these financial statements.
For this reason the directors continue to adopt the going concern basis for the preparation of the financial statements. Accordingly, these financial statements do not include any adjustments to the carrying amount or classification of assets and liabilities that would result if the company was unable to continue as a going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
PHOEBE TELECOMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
PHOEBE TELECOMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
Straight line over 3 years
Leasehold improvements
-
Straight line over 7 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
PHOEBE TELECOMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have had to be made by the directors in preparing these financial statements.


4.


Employees

The average monthly number of employees, including directors, during the period was 1 (2021 -1).

Page 6

 
PHOEBE TELECOMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

5.


Tangible fixed assets





Computer equipment
Leasehold improvements
Total

£
£
£



Cost or valuation


At 1 January 2022
1,170
47,632
48,802



At 31 December 2022

1,170
47,632
48,802



Depreciation


At 1 January 2022
122
1,827
1,949


Charge for the period on owned assets
390
6,805
7,195



At 31 December 2022

512
8,632
9,144



Net book value



At 31 December 2022
658
39,000
39,658



At 31 December 2021
1,048
45,805
46,853


6.


Debtors

2022
Unaudited 2021
£
£


Amounts owed by group undertakings
365,902
196,973

Prepayments and accrued income
86,132
106,328

452,034
303,301


Page 7

 
PHOEBE TELECOMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
Unaudited 2021
£
£

Trade creditors
100,944
99,817

Amounts owed to group undertakings
338,448
9,055

Corporation tax
11,532
9,451

Other taxation and social security
53,241
41,095

Other creditors
1,696
-

Accruals and deferred income
25,950
113,335

531,811
272,753



8.


Deferred taxation




2022


£






At beginning of year
(5,051)


Charged to profit or loss
1,545



At end of year
(3,506)

The provision for deferred taxation is made up as follows:

2022
Unaudited 2021
£
£


Accelerated capital allowances
(3,506)
(5,051)

(3,506)
(5,051)


9.


Related party transactions

The company has not disclosed transactions with wholly owned group companies, on the basis that it is a wholly owned subsidiary of Phoebe lle De France.

Page 8

 
PHOEBE TELECOMS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

10.


Controlling party

The immediate parent company is "Phoebe Ile De France", a company incorporated in France. The registered office address is 4 Av Du Parana, 91940, Les Ulis, France.


11.


Auditor's information

The auditor's report on the financial statements for the period ended 31 December 2022 was unqualified.

The audit report was signed on 3 April 2024 by  (Senior Statutory Auditor) on behalf of CLA Evelyn Partners (Ireland) Limited.

 
Page 9