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REGISTERED NUMBER: 04392694 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 31 March 2024

for

Pharos Building Services Limited

Pharos Building Services Limited (Registered number: 04392694)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Pharos Building Services Limited (Registered number: 04392694)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 - 81,000

CURRENT ASSETS
Debtors - 538
Cash at bank 347,625 205,555
347,625 206,093
CREDITORS
Amounts falling due within one year 176,866 1,210
NET CURRENT ASSETS 170,759 204,883
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,759

285,883

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 170,659 285,783
170,759 285,883

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Pharos Building Services Limited (Registered number: 04392694)

Abridged Balance Sheet - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 15 July 2024 and were signed by:





Mr R W Apted - Director


Pharos Building Services Limited (Registered number: 04392694)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Pharos Building Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04392694

Registered office: Keytec 7 Business Park
26-28 Kempton Road
Pershore
Worcestershire
WR10 2TA

The presentation currency of the financial statements is the Pound Sterling (£).


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 the Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006, taking into account that as the company is not a going concern, the break up basis of accounting has been applied as stated below.

Financial statements prepared on a basis other than going concern
As set out in the Director's report, due to the company ceasing to trade, the director has decided to prepare the financial statements on a basis other than that of a going concern. The financial statements have been prepared on a breakup basis at the year end. In adopting the break up basis at the year end the following policies and procedures were implemented.
- at 31 March 2024 all fixed assets are considered as realisable, hence reclassified as current assets
- all assets have been disclosed at values at which they are expected to be realised
- all liabilities reflect the full amount at which they are expected to materialise.

Going concern
The company ceased trading during the year and as a result the director considers it inappropriate to prepare the financial statements on a going concern basis and therefore these financial statements have been prepared on a break up basis as set out above under the basis if preparation.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Pharos Building Services Limited (Registered number: 04392694)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised when the company becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pharos Building Services Limited (Registered number: 04392694)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 81,000
Disposals (81,000 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 81,000

The 2023 year end market value of investment property was determined by the director based on expected sales proceeds.

The historical cost of investment property is £nil (2023 - £153,485).

5. ULTIMATE CONTROLLING PARTY

The controlling party is Apted Group Ltd, a company registered in England and Wales.

The registered address is 26-28 Kempton Road, Keytec 7 Business Park, Pershore, Worcestershire, WR10 2TA.

The ultimate controlling party is Mrs J M Apted by virtue of her controlling interest in the parent company.

6. CHARGES

There is a debenture in place at the year end by the company's bankers. The debenture is secured by way of fixed and floating charges over all assets and undertakings of the company.