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REGISTERED NUMBER: 02281612 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Phosphor Technology Limited

Phosphor Technology Limited (Registered number: 02281612)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 9

Phosphor Technology Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: G C Sorce
Mrs A N R Davis





SECRETARY: Mrs A N R Davis





REGISTERED OFFICE: Building 1
St Cross Chambers
Upper Marsh Lane
Hoddesdon
Hertfordshire
EN11 8LQ





REGISTERED NUMBER: 02281612 (England and Wales)





ACCOUNTANTS: Reece & Co.
Building 1
St. Cross Chambers
Upper Marsh Lane
Hoddesdon
Hertfordshire
EN11 8LQ

Phosphor Technology Limited (Registered number: 02281612)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,104 37,315

CURRENT ASSETS
Stocks 518,480 476,564
Debtors 5 414,490 255,567
Cash at bank and in hand 1,391,973 1,657,501
2,324,943 2,389,632
CREDITORS
Amounts falling due within one year 6 366,297 274,375
NET CURRENT ASSETS 1,958,646 2,115,257
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,002,750

2,152,572

PROVISIONS FOR LIABILITIES 8 6,983 3,756
NET ASSETS 1,995,767 2,148,816

CAPITAL AND RESERVES
Called up share capital 9 470,000 470,000
Retained earnings 10 1,525,767 1,678,816
SHAREHOLDERS' FUNDS 1,995,767 2,148,816

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 directors acknowledge their 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.

Phosphor Technology Limited (Registered number: 02281612)

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





G C Sorce - Director


Phosphor Technology Limited (Registered number: 02281612)

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

1. STATUTORY INFORMATION

Phosphor Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.


Financial Instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities including trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year) including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Judgements and key sources of estimation uncertainty

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision effects only that period, or in the period of the revision and future periods, if the revision effects both current and future periods.

The directors do not believe that there have been judgements (apart from those involving estimates) made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements.

Phosphor Technology Limited (Registered number: 02281612)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 7.5% on cost
Plant and Equipment - 25% on reducing balance
Custom Test Equipment - 12.5% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

Phosphor Technology Limited (Registered number: 02281612)

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

4. TANGIBLE FIXED ASSETS
Improvements Custom
to Plant and Test
property Equipment Equipment
£    £    £   
COST
At 1 April 2023 472,236 307,778 66,050
Additions - 17,240 -
Disposals - (9,629 ) -
At 31 March 2024 472,236 315,389 66,050
DEPRECIATION
At 1 April 2023 472,235 275,570 66,049
Charge for year - 12,009 -
Eliminated on disposal - (9,118 ) -
At 31 March 2024 472,235 278,461 66,049
NET BOOK VALUE
At 31 March 2024 1 36,928 1
At 31 March 2023 1 32,208 1

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 26,650 18,462 891,176
Additions - 5,507 22,747
Disposals - (10,830 ) (20,459 )
At 31 March 2024 26,650 13,139 893,464
DEPRECIATION
At 1 April 2023 23,463 16,544 853,861
Charge for year 797 2,641 15,447
Eliminated on disposal - (10,830 ) (19,948 )
At 31 March 2024 24,260 8,355 849,360
NET BOOK VALUE
At 31 March 2024 2,390 4,784 44,104
At 31 March 2023 3,187 1,918 37,315

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 323,409 150,735
Other debtors 91,081 104,832
414,490 255,567

Phosphor Technology Limited (Registered number: 02281612)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 106,403 104,394
Taxation and social security 96,588 27,770
Other creditors 163,306 142,211
366,297 274,375

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
In more than five years 83,000 83,000

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 6,983 3,756

Deferred
tax
£   
Balance at 1 April 2023 3,756
Provided during year 3,227
Balance at 31 March 2024 6,983

Deferred taxation arises from accelerated capital allowances with particular reference to allowances for research and development expenditure.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
470,000 Ordinary £1 470,000 470,000

10. RESERVES
Retained
earnings
£   

At 1 April 2023 1,678,816
Profit for the year 346,951
Dividends (500,000 )
At 31 March 2024 1,525,767

Phosphor Technology Limited (Registered number: 02281612)

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

11. RELATED PARTY DISCLOSURES

The company has paid £5,000 (2023 - £5,000) to its holding company for management services.

The total amount of dividends for the year paid to the holding company was £500,000.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Bitherstone Services Limited.

Phosphor Technology Limited

Report of the Accountants to the Directors of
Phosphor Technology Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages two to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Reece & Co.
Building 1
St. Cross Chambers
Upper Marsh Lane
Hoddesdon
Hertfordshire
EN11 8LQ


10 September 2024