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Company Registration No. 10873914 (England and Wales)
Phase One Investment Limited Unaudited accounts for the year ended 31 January 2024
Phase One Investment Limited Unaudited accounts Contents
Page
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Phase One Investment Limited Company Information for the year ended 31 January 2024
Directors
A Kearns E Kearns D Kearns
Company Number
10873914 (England and Wales)
Registered Office
22 Grenfell Road Manchester Lancashire M20 6TQ England
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Phase One Investment Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
750 
1,000 
Investment property
365,000 
335,000 
365,750 
336,000 
Current assets
Cash at bank and in hand
5,860 
6,933 
Creditors: amounts falling due within one year
(103,106)
(96,936)
Net current liabilities
(97,246)
(90,003)
Total assets less current liabilities
268,504 
245,997 
Creditors: amounts falling due after more than one year
(231,408)
(231,408)
Net assets
37,096 
14,589 
Capital and reserves
Called up share capital
4 
4 
Fair value reserve
84,412 
63,698 
Profit and loss account
(47,320)
(49,113)
Shareholders' funds
37,096 
14,589 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by
A Kearns Director Company Registration No. 10873914
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Phase One Investment Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Phase One Investment Limited is a private company, limited by shares, registered in England and Wales, registration number 10873914. The registered office is 22 Grenfell Road, Manchester, Lancashire, M20 6TQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10% straight line
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 February 2023
2,500 
At 31 January 2024
2,500 
Depreciation
At 1 February 2023
1,500 
Charge for the year
250 
At 31 January 2024
1,750 
Net book value
At 31 January 2024
750 
At 31 January 2023
1,000 
5
Investment property
2024 
£ 
Fair value at 1 February 2023
335,000 
Net gain from fair value adjustments
30,000 
At 31 January 2024
365,000 
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Phase One Investment Limited Notes to the Accounts for the year ended 31 January 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
10,827 
5,127 
Other creditors
551 
551 
Loans from directors
87,241 
86,771 
Accruals
3,387 
3,387 
Deferred income
1,100 
1,100 
103,106 
96,936 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
231,408 
231,408 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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