1 May 2023 false No description of principal activity Taxfiler 2024.6.1 10100443business:PrivateLimitedCompanyLtd2023-05-012024-04-30 101004432023-04-30 101004432023-05-012024-04-30 10100443business:AuditExemptWithAccountantsReport2023-05-012024-04-30 10100443business:FilletedAccounts2023-05-012024-04-30 101004432024-04-30 10100443business:Director12023-05-012024-04-30 10100443business:Director22023-05-012024-04-30 10100443business:RegisteredOffice2023-05-012024-04-30 101004432023-04-30 10100443core:WithinOneYear2024-04-30 10100443core:WithinOneYear2023-04-30 10100443core:AfterOneYear2024-04-30 10100443core:AfterOneYear2023-04-30 10100443core:ShareCapitalcore:PreviouslyStatedAmount2024-04-30 10100443core:ShareCapitalcore:PreviouslyStatedAmount2023-04-30 10100443core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-04-30 10100443core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-04-30 10100443core:PreviouslyStatedAmount2024-04-30 10100443core:PreviouslyStatedAmount2023-04-30 10100443business:SmallEntities2023-05-012024-04-30 10100443countries:EnglandWales2023-05-012024-04-30 10100443business:OrdinaryShareClass12023-05-012024-04-30 10100443business:OrdinaryShareClass12022-05-012023-04-30 101004432022-05-012023-04-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10100443 (England and Wales)
Phonexa, Ltd Unaudited accounts for the year ended 30 April 2024
Phonexa, Ltd Unaudited accounts Contents
Page
- 2 -
Phonexa, Ltd Company Information for the year ended 30 April 2024
Directors
Davit Gasparyan David Michael Pickard
Company Number
10100443 (England and Wales)
Registered Office
Suite A, Floor 2, Avalon 26-32 Oxford Road Bournemouth BH8 8EZ England
Accountants
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY
- 3 -
Phonexa, Ltd Accountants' report
Accountants' report to the board of directors of Phonexa, Ltd on the preparation of the unaudited statutory accounts for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Phonexa, Ltd for the year ended 30 April 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Phonexa, Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Phonexa, Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phonexa, Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Phonexa, Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Phonexa, Ltd. You consider that Phonexa, Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Phonexa, Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY 30 January 2025
- 4 -
Phonexa, Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investments
15,331 
15,331 
Current assets
Debtors
1,718,784 
844,936 
Cash at bank and in hand
241,844 
734,080 
1,960,628 
1,579,016 
Creditors: amounts falling due within one year
(145,765)
(84,985)
Net current assets
1,814,863 
1,494,031 
Total assets less current liabilities
1,830,194 
1,509,362 
Creditors: amounts falling due after more than one year
(508,743)
(343,132)
Net assets
1,321,451 
1,166,230 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,321,450 
1,166,229 
Shareholders' funds
1,321,451 
1,166,230 
For the year ending 30 April 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 directors acknowledge their 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 of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by
Davit Gasparyan Director Company Registration No. 10100443
- 5 -
Phonexa, Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Phonexa, Ltd is a private company, limited by shares, registered in England and Wales, registration number 10100443. The registered office is Suite A, Floor 2, Avalon, 26-32 Oxford Road, Bournemouth, BH8 8EZ, 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.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
- 6 -
Phonexa, Ltd Notes to the Accounts for the year ended 30 April 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The costs of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
4
Investments
Other investments 
£ 
Valuation at 1 May 2023
15,331 
Valuation at 30 April 2024
15,331 
The company's investment at the Balance Sheet date in the share capital Intent Logic LLC, a trading company resident in United States of America. The investment is for 30% of the issued share capital.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
137,890 
168,721 
Amounts due from group undertakings etc.
1,566,339 
663,714 
Accrued income and prepayments
6,004 
- 
Other debtors
8,551 
12,501 
1,718,784 
844,936 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
54,403 
35,282 
Trade creditors
15,296 
13,119 
Taxes and social security
57,358 
12,737 
Other creditors
18,708 
11,847 
Accruals
- 
12,000 
145,765 
84,985 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
508,743 
343,132 
- 7 -
Phonexa, Ltd Notes to the Accounts for the year ended 30 April 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Transactions with related parties
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
10
Average number of employees
During the year the average number of employees was 6 (2023: 4).
- 8 -