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Company Registration No. 02697868 (England and Wales)
Pharos Data Limited Unaudited accounts for the period from 1 February 2024 to 31 December 2024
Pharos Data Limited Unaudited accounts Contents
Page
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Pharos Data Limited Company Information for the period from 1 February 2024 to 31 December 2024
Director
Andreas Werner Schurrle
Company Number
02697868 (England and Wales)
Registered Office
Suite 358, 415 High Street Stratford London E15 4QZ England
Accountants
Xeinadin 8th Floor, Becket House 36 Old Jewry London EC2R 8DD
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Pharos Data Limited Statement of financial position as at 31 December 2024
31/12/2024 
31/01/2024 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
471,820 
Tangible assets
- 
915 
- 
472,735 
Current assets
Debtors
119,400 
34,511 
Cash at bank and in hand
43,891 
38,772 
163,291 
73,283 
Creditors: amounts falling due within one year
(58,777)
(33,345)
Net current assets
104,514 
39,938 
Total assets less current liabilities
104,514 
512,673 
Creditors: amounts falling due after more than one year
(4,746)
(23,912)
Net assets
99,768 
488,761 
Capital and reserves
Called up share capital
140 
140 
Share premium
8,990 
8,990 
Profit and loss account
90,638 
479,631 
Shareholders' funds
99,768 
488,761 
For the period ending 31 December 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 14 February 2025 and were signed on its behalf by
Andreas Werner Schurrle Director Company Registration No. 02697868
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Pharos Data Limited Notes to the Accounts for the period from 1 February 2024 to 31 December 2024
1
Statutory information
Pharos Data Limited is a private company, limited by shares, registered in England and Wales, registration number 02697868. The registered office is Suite 358, 415 High Street Stratford, London, E15 4QZ, 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 period, 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:
Plant & machinery
33% on reducing balance
Intangible fixed assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses Development costs are being amortised evenly over their estimated useful life of ten years
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Pharos Data Limited Notes to the Accounts for the period from 1 February 2024 to 31 December 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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.
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.
Going concern
The director's have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 February 2024
796,400 
Disposals
(796,400)
At 31 December 2024
- 
Amortisation
At 1 February 2024
324,580 
Charge for the period
(324,580)
At 31 December 2024
- 
Net book value
At 31 December 2024
- 
At 31 January 2024
471,820 
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Pharos Data Limited Notes to the Accounts for the period from 1 February 2024 to 31 December 2024
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 February 2024
92,574 
Disposals
(92,574)
At 31 December 2024
- 
Depreciation
At 1 February 2024
91,659 
On disposals
(91,659)
At 31 December 2024
- 
Net book value
At 31 December 2024
- 
At 31 January 2024
915 
6
Debtors
31/12/2024 
31/01/2024 
£ 
£ 
Amounts falling due within one year
Trade debtors
116,650 
34,511 
Accrued income and prepayments
2,750 
- 
119,400 
34,511 
7
Creditors: amounts falling due within one year
31/12/2024 
31/01/2024 
£ 
£ 
Bank loans and overdrafts
10,000 
- 
VAT
16,945 
1,027 
Trade creditors
11,764 
31,395 
Taxes and social security
8,059 
923 
Other creditors
12,009 
- 
58,777 
33,345 
8
Creditors: amounts falling due after more than one year
31/12/2024 
31/01/2024 
£ 
£ 
Bank loans
4,746 
23,912 
9
Transactions with related parties
During the financial year, the company sold a fixed asset with a book value of £472,735 to its parent company for a consideration of £147,240. The resulting loss of £325,495 was recognised in the profit and loss account. The transaction was conducted on an arm’s length basis and was approved by the board of directors.
10
Average number of employees
During the period the average number of employees was 4 (31/01/2024: 4).
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