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
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
Pharos Data Limited
Statement of financial position
as at 31 December 2024
Intangible assets
-
471,820
Cash at bank and in hand
43,891
38,772
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)
Called up share capital
140
140
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
Pharos Data Limited
Notes to the Accounts
for the period from 1 February 2024 to 31 December 2024
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.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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 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.
Pharos Data Limited
Notes to the Accounts
for the period from 1 February 2024 to 31 December 2024
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.
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.
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.
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.
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Intangible fixed assets
Other
At 1 February 2024
796,400
At 1 February 2024
324,580
Charge for the period
(324,580)
At 31 January 2024
471,820
Pharos Data Limited
Notes to the Accounts
for the period from 1 February 2024 to 31 December 2024
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Tangible fixed assets
Computer equipment
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
-
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Creditors: amounts falling due within one year
31/12/2024
31/01/2024
Bank loans and overdrafts
10,000
-
Trade creditors
11,764
31,395
Taxes and social security
8,059
923
8
Creditors: amounts falling due after more than one year
31/12/2024
31/01/2024
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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.
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Average number of employees
During the period the average number of employees was 4 (31/01/2024: 4).