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REGISTERED NUMBER: 05514596 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

PHANTOM MOTOR CARS LIMITED

PHANTOM MOTOR CARS LIMITED (REGISTERED NUMBER: 05514596)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHANTOM MOTOR CARS LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTORS: S T E Worthington
S J S Worthington





REGISTERED OFFICE: Pankridge Street
Crondall
Farnham
Surrey
GU10 5QT





REGISTERED NUMBER: 05514596 (England and Wales)





ACCOUNTANTS: Bolton & Co
Fetcham Park House
Fetcham Park
Lower Road
Fetcham
Surrey
KT22 9HD

PHANTOM MOTOR CARS LIMITED (REGISTERED NUMBER: 05514596)

Balance Sheet
30 April 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,240 58,359

CURRENT ASSETS
Stocks 656,374 732,391
Debtors 5 47,219 27,342
Cash at bank and in hand 864,572 541,363
1,568,165 1,301,096
CREDITORS
Amounts falling due within one year 6 281,550 199,534
NET CURRENT ASSETS 1,286,615 1,101,562
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,337,855

1,159,921

PROVISIONS FOR LIABILITIES 12,690 14,443
NET ASSETS 1,325,165 1,145,478

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,325,065 1,145,378
SHAREHOLDERS' FUNDS 1,325,165 1,145,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

PHANTOM MOTOR CARS LIMITED (REGISTERED NUMBER: 05514596)

Balance Sheet - continued
30 April 2024


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 21 August 2024 and were signed on its behalf by:





S T E Worthington - Director


PHANTOM MOTOR CARS LIMITED (REGISTERED NUMBER: 05514596)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Phantom Motor Cars 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

Compliance with accounting standards
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 are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except otherwise stated).

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

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.

Patents and licences have been fully amortised in the current year.

Intellectual property
Intellectual Property is valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over its estimated useful life.

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 - 10% on reducing balance
Computer equipmt - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


PHANTOM MOTOR CARS LIMITED (REGISTERED NUMBER: 05514596)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

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 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 46,506 39,994 6,041
Additions - - -
At 30 April 2024 46,506 39,994 6,041
DEPRECIATION
At 1 May 2023 10,552 32,765 4,442
Charge for year 2,951 1,084 160
At 30 April 2024 13,503 33,849 4,602
NET BOOK VALUE
At 30 April 2024 33,003 6,145 1,439
At 30 April 2023 35,954 7,229 1,599

PHANTOM MOTOR CARS LIMITED (REGISTERED NUMBER: 05514596)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipmt Totals
£    £    £   
COST
At 1 May 2023 37,450 4,910 134,901
Additions - 455 455
At 30 April 2024 37,450 5,365 135,356
DEPRECIATION
At 1 May 2023 24,767 4,016 76,542
Charge for year 3,170 209 7,574
At 30 April 2024 27,937 4,225 84,116
NET BOOK VALUE
At 30 April 2024 9,513 1,140 51,240
At 30 April 2023 12,683 894 58,359

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 46,645 17,173
Other debtors 574 10,169
47,219 27,342

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade creditors 21,607 33,822
Taxation and social security 110,824 41,200
Other creditors 149,119 124,512
281,550 199,534

7. RELATED PARTY DISCLOSURES

All dividends were paid to the directors during the year.