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Registration number: 08391647

Phygicool Labs Ltd

Unaudited Filleted Financial Statements

for the Year Ended 27 February 2024

 

Phygicool Labs Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Phygicool Labs Ltd

Company Information

Directors

Mr Timothy Chisnall

Mr Daniel Simon Kurk

Mr David Skilling

Mr Christopher Rupert John Owen

Registered office

46 Waterloo Road
Linslade
Leighton Buzzard
Bedfordshire
LU7 2NS

Accountants

RS Partnership Ltd
Chartered Certified Accountants
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

 

Phygicool Labs Ltd

(Registration number: 08391647)
Balance Sheet as at 27 February 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

335

4,335

Creditors: Amounts falling due within one year

5

-

(3,075)

Net assets

 

335

1,260

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

235

1,160

Shareholders' funds

 

335

1,260

For the financial year ending 27 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 November 2024 and signed on its behalf by:
 

.........................................
Mr Timothy Chisnall
Director

 

Phygicool Labs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
46 Waterloo Road
Linslade
Leighton Buzzard
Bedfordshire
LU7 2NS

The principal place of business is:
Suite 136
Capability House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

These financial statements were authorised for issue by the Board on 15 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional
currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Depreciation

 

Phygicool Labs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2024

Asset class

Depreciation method and rate

Office equipment

25% straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Debtors

2024
£

2023
£

Other debtors

-

4,326

Directors Loan Account

335

9

335

4,335

 

Phygicool Labs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 27 February 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Corporation tax

-

3,075

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100