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REGISTERED NUMBER: 05167257 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

PROPHASE DEVELOPMENT LIMITED

PROPHASE DEVELOPMENT LIMITED (REGISTERED NUMBER: 05167257)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PROPHASE DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: Mr J R Taylor
Mrs C J Taylor





SECRETARY: Mr J R Taylor





REGISTERED OFFICE: The Magdalen Centre
1 Robert Robinson Avenue
Oxford Science Park
Oxford
OX4 4GA





REGISTERED NUMBER: 05167257 (England and Wales)





ACCOUNTANTS: Richardson Jones
Chartered Accountants
Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN

PROPHASE DEVELOPMENT LIMITED (REGISTERED NUMBER: 05167257)

BALANCE SHEET
30TH JUNE 2024

30.6.24 30.6.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 2,749 3,887

CURRENT ASSETS
Debtors 5 58,503 40,744
Cash at bank 176,966 237,191
235,469 277,935
CREDITORS
Amounts falling due within one year 6 16,153 28,254
NET CURRENT ASSETS 219,316 249,681
TOTAL ASSETS LESS CURRENT
LIABILITIES

222,065

253,568

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 221,965 253,468
SHAREHOLDERS' FUNDS 222,065 253,568

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

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 22nd November 2024 and were signed on its behalf by:




Mr J R Taylor - Director



Mrs C J Taylor - Director


PROPHASE DEVELOPMENT LIMITED (REGISTERED NUMBER: 05167257)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024

1. STATUTORY INFORMATION

Prophase Development 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1st July 2023
and 30th June 2024 11,579 10,907 5,620 28,106
DEPRECIATION
At 1st July 2023 11,038 8,894 4,287 24,219
Charge for year 135 503 500 1,138
At 30th June 2024 11,173 9,397 4,787 25,357
NET BOOK VALUE
At 30th June 2024 406 1,510 833 2,749
At 30th June 2023 541 2,013 1,333 3,887

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Trade debtors 28,473 35,371
Other debtors 30,030 5,373
58,503 40,744

PROPHASE DEVELOPMENT LIMITED (REGISTERED NUMBER: 05167257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Taxation and social security 14,578 24,753
Other creditors 1,575 3,501
16,153 28,254

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th June 2024 and 30th June 2023:

30.6.24 30.6.23
£ £
Mr J R Taylor
Balance outstanding at start of year (1,626 ) (1,869 )
Amounts advanced 21,628 2,524
Amounts repaid (3,150 ) (2,281 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,852 (1,626 )

The loan to the director was repaid in full within 9 months of the year end.

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J R Taylor.