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Company Registration No. 02864655 (England and Wales)
PHONELAND LIMITED Unaudited accounts for the year ended 31 March 2024
PHONELAND LIMITED Unaudited accounts Contents
Page
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PHONELAND LIMITED Company Information for the year ended 31 March 2024
Director
Dean Alfred Giddy
Company Number
02864655 (England and Wales)
Registered Office
15 GERMANDER WAY BICESTER OX26 3WB ENGLAND
Accountants
Tax Ninja Limited 39 Mullein Road Bicester Oxfordshire OX26 3WF
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PHONELAND LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
12,876 
12,876 
Debtors
53,075 
22,895 
Cash at bank and in hand
200,119 
158,232 
266,070 
194,003 
Creditors: amounts falling due within one year
(59,461)
(48,626)
Net current assets
206,609 
145,377 
Net assets
206,609 
145,377 
Capital and reserves
Called up share capital
1,890 
1,890 
Capital redemption reserve
200 
200 
Profit and loss account
204,519 
143,287 
Shareholders' funds
206,609 
145,377 
For the year ending 31 March 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 director acknowledges his 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 and authorised for issue on 20 November 2024 and were signed on its behalf by
Dean Alfred Giddy Director Company Registration No. 02864655
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PHONELAND LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
PHONELAND LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02864655. The registered office is 15 GERMANDER WAY, BICESTER, OX26 3WB, 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 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
20% on cost
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the their present location and condition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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PHONELAND LIMITED Notes to the Accounts for the year ended 31 March 2024
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
1 
248 
Trade debtors
4,471 
(1,856)
Other debtors
104 
24,503 
4,576 
22,895 
Amounts falling due after more than one year
Other debtors
48,499 
- 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
7,090 
8,255 
Trade creditors
3,970 
(16,895)
Taxes and social security
22,384 
6,706 
Other creditors
25,990 
50,058 
Loans from directors
27 
27 
Accruals
- 
475 
59,461 
48,626 
6
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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