Registered number
11789371
Phase Bars Limited
Filleted Accounts
31 January 2024
Phase Bars Limited
Registered number: 11789371
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 5,195 5,195
Current assets
Stocks 23,448 23,448
Cash at bank and in hand 5,212 5,212
28,660 28,660
Creditors: amounts falling due within one year 3 (78,283) (78,283)
Net current liabilities (49,623) (49,623)
Net liabilities (44,428) (44,428)
Capital and reserves
Called up share capital 100 100
Profit and loss account (44,528) (44,528)
Shareholders' funds (44,428) (44,428)
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 members have 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.
Mr Perparim Emini
Director
Approved by the board on 31 October 2024
Phase Bars Limited
Notes to the Accounts
for the year ended 31 January 2024
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:
Plant and machinery 15% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 9,047 9,047
Director loan 29,348 29,348
Taxation and social security costs 39,888 39,888
78,283 78,283
4 Other information
Phase Bars Limited is a private company limited by shares and incorporated in England. Its registered office is:
389 Birchfield Lane
Oldbury
West Midlands
B69 1AQ
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