Registered number
13097708
Phasor Project Services Ltd
Filleted Accounts
31 December 2023
Phasor Project Services Ltd
Registered number: 13097708
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,220 997
Current assets
Debtors 4 14,934 19,652
Cash at bank and in hand 44,658 52,518
59,592 72,170
Creditors: amounts falling due within one year 5 (11,544) (16,331)
Net current assets 48,048 55,839
Net assets 49,268 56,836
Capital and reserves
Called up share capital 1 1
Profit and loss account 49,267 56,835
Shareholder's funds 49,268 56,836
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Carl Jenkins
Director
Approved by the board on 12 September 2024
Phasor Project Services Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 2,499
Additions 1,576
At 31 December 2023 4,075
Depreciation
At 1 January 2023 1,502
Charge for the year 1,353
At 31 December 2023 2,855
Net book value
At 31 December 2023 1,220
At 31 December 2022 997
4 Debtors 2023 2022
£ £
Trade debtors 14,934 19,652
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 10,655 15,789
Other creditors 889 542
11,544 16,331
6 Other information
Phasor Project Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Barn, 173 Church Road
Northfield
Birmingham
B31 2LX
Phasor Project Services Ltd 13097708 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Carl Jenkins No description of principal activity 13097708 2022-01-01 2022-12-31 13097708 core:WithinOneYear 2022-12-31 13097708 core:ShareCapital 2022-12-31 13097708 core:RetainedEarningsAccumulatedLosses 2022-12-31 13097708 2023-01-01 2023-12-31 13097708 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13097708 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13097708 bus:Director40 2023-01-01 2023-12-31 13097708 1 2023-01-01 2023-12-31 13097708 2 2023-01-01 2023-12-31 13097708 core:PlantMachinery 2023-01-01 2023-12-31 13097708 countries:England 2023-01-01 2023-12-31 13097708 bus:FRS102 2023-01-01 2023-12-31 13097708 bus:FilletedAccounts 2023-01-01 2023-12-31 13097708 2023-12-31 13097708 core:WithinOneYear 2023-12-31 13097708 core:ShareCapital 2023-12-31 13097708 core:RetainedEarningsAccumulatedLosses 2023-12-31 13097708 core:PlantMachinery 2023-12-31 13097708 2022-12-31 13097708 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure