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REGISTERED NUMBER: 10011946 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PHANES MEDICAL LTD

PHANES MEDICAL LTD (REGISTERED NUMBER: 10011946)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PHANES MEDICAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: O Ojutiku
Dr D Ojutiku
Mrs F O O Ojutiku
D Ojutiku





REGISTERED OFFICE: 66 Sebastian Avenue
Brentwood
Essex
CM15 8PP





REGISTERED NUMBER: 10011946 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

PHANES MEDICAL LTD (REGISTERED NUMBER: 10011946)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 611 912
Investments 5 11,000 11,000
11,611 11,912

CURRENT ASSETS
Debtors 6 84,720 59,268
Cash at bank 20,389 55,656
105,109 114,924
CREDITORS
Amounts falling due within one year 7 (21,370 ) (32,103 )
NET CURRENT ASSETS 83,739 82,821
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,350

94,733

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 95,348 94,731
SHAREHOLDERS' FUNDS 95,350 94,733

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 21 February 2025 and were signed on its behalf by:



Dr D Ojutiku - Director


PHANES MEDICAL LTD (REGISTERED NUMBER: 10011946)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Phanes Medical Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Computer equipment - 33% on cost

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2023
and 29 February 2024 2,670
DEPRECIATION
At 1 March 2023 1,758
Charge for year 301
At 29 February 2024 2,059
NET BOOK VALUE
At 29 February 2024 611
At 28 February 2023 912

PHANES MEDICAL LTD (REGISTERED NUMBER: 10011946)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 29 February 2024 11,000
NET BOOK VALUE
At 29 February 2024 11,000
At 28 February 2023 11,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 82,920 57,468
Other debtors 1,800 1,800
84,720 59,268

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Tax (6,607 ) (430 )
Other creditors 26,777 31,393
Accrued expenses 1,200 1,140
21,370 32,103

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
2 Ordinary £1 2 2

9. RESERVES
Retained
earnings
£   

At 1 March 2023 94,731
Profit for the year 617
At 29 February 2024 95,348

10. ULTIMATE CONTROLLING PARTY

The controlling party is O Ojutiku.