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REGISTERED NUMBER: 04783276 (England and Wales)










Unaudited Financial Statements

for the Period 1 July 2023 to 31 May 2024

for

PHAZE 2 BARBERS LIMITED

PHAZE 2 BARBERS LIMITED (REGISTERED NUMBER: 04783276)

Contents of the Financial Statements
for the Period 1 July 2023 to 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

PHAZE 2 BARBERS LIMITED

Company Information
for the Period 1 July 2023 to 31 May 2024







DIRECTOR: Mrs K Amos





SECRETARY: D I Wassell





REGISTERED OFFICE: 10 Walton Hall
Eccleshall
Staffordshire
ST21 6JR





REGISTERED NUMBER: 04783276 (England and Wales)





ACCOUNTANTS: CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW

PHAZE 2 BARBERS LIMITED (REGISTERED NUMBER: 04783276)

Balance Sheet
31 May 2024

31.5.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,223

CURRENT ASSETS
Cash at bank 9,493 10,198

CREDITORS
Amounts falling due within one year 5 9,392 5,797
NET CURRENT ASSETS 101 4,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

101

5,624

PROVISIONS FOR LIABILITIES - 230
NET ASSETS 101 5,394

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1 5,294
SHAREHOLDERS' FUNDS 101 5,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 27 July 2024 and were signed by:





Mrs K Amos - Director


PHAZE 2 BARBERS LIMITED (REGISTERED NUMBER: 04783276)

Notes to the Financial Statements
for the Period 1 July 2023 to 31 May 2024


1. STATUTORY INFORMATION

Phaze 2 Barbers 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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for the assets and liabilities as at the balance sheet date and the amounts reported for the revenues and expenses during the year.

Stock Provision
The director reviews stock held at the balance sheet date to ensure that only those goods deemed fit for future sales are included.

Turnover
Turnover represents net invoiced sale of services, excluding value added tax.

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 etc - 25% on reducing balance

Taxation
Taxation for the period 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 period 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.

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 period was 1 (2023 - 1 ) .

PHAZE 2 BARBERS LIMITED (REGISTERED NUMBER: 04783276)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 May 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 12,436
Additions 1,221
Disposals (13,657 )
At 31 May 2024 -
DEPRECIATION
At 1 July 2023 11,213
Charge for period 418
Eliminated on disposal (11,631 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 30 June 2023 1,223

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 30.6.23
£    £   
Trade creditors 1 302
Taxation and social security 2,639 2,716
Other creditors 6,752 2,779
9,392 5,797

6. ULTIMATE CONTROLLING PARTY

The company is under the control of the director Mrs K Amos who holds 100% of the share capital.

7. EMPLOYEE BENEFITS

The company's holiday period is 1 July - 30 June therefore no accrued holiday pay provision is required in these accounts.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Phaze 2 Barbers limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Phaze 2 Barbers limited for the period ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Phaze 2 Barbers limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Phaze 2 Barbers limited and state those matters that we have agreed to state to the director of Phaze 2 Barbers limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phaze 2 Barbers limited and its director for our work or for this report.

It is your duty to ensure that Phaze 2 Barbers limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Phaze 2 Barbers limited. You consider that Phaze 2 Barbers limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Phaze 2 Barbers limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW


27 July 2024