2023-01-012023-12-312023-12-31false07796227Phase 2 Planning & Development 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Phase 2 Planning & Development Limited

Registered Number
07796227
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Phase 2 Planning & Development Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Mr T Dodkins
Mr M Wood

Registered Address

1st Floor, 11 Freeport Office Village
Century Drive
Braintree
CM77 8YG

Registered Number

07796227 (England and Wales)
Phase 2 Planning & Development Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3530,196552,498
530,196552,498
Current assets
Debtors4481,902467,442
Cash at bank and on hand18,781144,773
500,683612,215
Creditors amounts falling due within one year5(288,632)(303,737)
Net current assets (liabilities)212,051308,478
Total assets less current liabilities742,247860,976
Creditors amounts falling due after one year6(194,597)(239,645)
Provisions for liabilities7(14,757)(13,548)
Net assets532,893607,783
Capital and reserves
Called up share capital100100
Profit and loss account532,793607,683
Shareholders' funds532,893607,783
The financial statements were approved and authorised for issue by the Board of Directors on 17 September 2024, and are signed on its behalf by:
Mr T Dodkins
Director
Registered Company No. 07796227
Phase 2 Planning & Development Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-2
Fixtures and fittings25-
Office Equipment25-
2.Average number of employees

20232022
Average number of employees during the year1115
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 January 23537,21827,71166,641631,570
Additions-632-632
Disposals-(1,955)(19,107)(21,062)
At 31 December 23537,21826,38847,534611,140
Depreciation and impairment
At 01 January 2322,92720,47735,66879,072
Charge for year10,7451,8536,93419,532
On disposals-(1,792)(15,868)(17,660)
At 31 December 2333,67220,53826,73480,944
Net book value
At 31 December 23503,5465,85020,800530,196
At 31 December 22514,2917,23430,973552,498
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables233,739254,715
Other debtors60,885-
Prepayments and accrued income187,278212,727
Total481,902467,442
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables18,58533,034
Bank borrowings and overdrafts60,59053,814
Taxation and social security190,616214,689
Other creditors15,937-
Accrued liabilities and deferred income2,9042,200
Total288,632303,737
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts194,597239,645
Total194,597239,645
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)14,75713,548
Total14,75713,548