Caseware UK (AP4) 2024.0.164 2024.0.164 2024-04-302024-04-30false32023-05-01falsetrueWholesale of electronic and telecommunications equipment and parts4The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14245274 2023-05-01 2024-04-30 14245274 2022-07-20 2023-04-30 14245274 2024-04-30 14245274 2023-04-30 14245274 c:Director1 2023-05-01 2024-04-30 14245274 d:MotorVehicles 2023-05-01 2024-04-30 14245274 d:MotorVehicles 2024-04-30 14245274 d:MotorVehicles 2023-04-30 14245274 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 14245274 d:OfficeEquipment 2023-05-01 2024-04-30 14245274 d:OfficeEquipment 2024-04-30 14245274 d:OfficeEquipment 2023-04-30 14245274 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 14245274 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 14245274 d:CurrentFinancialInstruments 2024-04-30 14245274 d:CurrentFinancialInstruments 2023-04-30 14245274 d:Non-currentFinancialInstruments 2024-04-30 14245274 d:Non-currentFinancialInstruments 2023-04-30 14245274 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 14245274 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 14245274 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 14245274 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 14245274 d:ShareCapital 2024-04-30 14245274 d:ShareCapital 2023-04-30 14245274 d:RetainedEarningsAccumulatedLosses 2024-04-30 14245274 d:RetainedEarningsAccumulatedLosses 2023-04-30 14245274 c:OrdinaryShareClass1 2023-05-01 2024-04-30 14245274 c:OrdinaryShareClass1 2024-04-30 14245274 c:OrdinaryShareClass1 2023-04-30 14245274 c:OrdinaryShareClass2 2023-05-01 2024-04-30 14245274 c:OrdinaryShareClass2 2024-04-30 14245274 c:OrdinaryShareClass2 2023-04-30 14245274 c:FRS102 2023-05-01 2024-04-30 14245274 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 14245274 c:FullAccounts 2023-05-01 2024-04-30 14245274 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 14245274 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 14245274 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 14245274 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 14245274 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 14245274 2 2023-05-01 2024-04-30 14245274 6 2023-05-01 2024-04-30 14245274 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14245274









PHASOR ESSEX LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
PHASOR ESSEX LIMITED
REGISTERED NUMBER: 14245274

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
33,849
18,961

Investments
 5 
1
1

  
33,850
18,962

Current assets
  

Stocks
  
134,272
150,000

Debtors: amounts falling due within one year
 6 
411,617
295,655

Cash at bank and in hand
 7 
7,643
12,100

  
553,532
457,755

Creditors: amounts falling due within one year
 8 
(797,395)
(426,834)

Net current (liabilities)/assets
  
 
 
(243,863)
 
 
30,921

Total assets less current liabilities
  
(210,013)
49,883

Creditors: amounts falling due after more than one year
 9 
(1,999)
(11,550)

  

Net (liabilities)/assets
  
(212,012)
38,333


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
(212,112)
38,233

  
(212,012)
38,333


Page 1

 
PHASOR ESSEX LIMITED
REGISTERED NUMBER: 14245274
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




B Patel
Director

Date: 9 April 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PHASOR ESSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Phasor Essex Limited, Company number 14245274, is a private company limited by shares incorporated in England and Wales. The address of the company’s registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.
Principal activity of the company during the year was Wholesale of electronic and telecommunications equipment and parts.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results and the solvency of the company. Given that the company is in a net deficit position the director has obtained assurance from its beneficial owner to continue to provide adequate funds to meet its obligations and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
PHASOR ESSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
PHASOR ESSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

Page 5

 
PHASOR ESSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.14

Creditors

Short-term 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 3).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
16,500
3,671
20,171


Additions
20,448
3,144
23,592



At 30 April 2024

36,948
6,815
43,763



Depreciation


At 1 May 2023
1,031
179
1,210


Charge for the year on owned assets
7,275
1,429
8,704



At 30 April 2024

8,306
1,608
9,914



Net book value



At 30 April 2024
28,642
5,207
33,849



At 30 April 2023
15,469
3,492
18,961

Page 6

 
PHASOR ESSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 May 2023
1



At 30 April 2024
1





6.


Debtors

2024
2023
£
£


Trade debtors
363,284
217,497

Other debtors
32,168
66,158

Prepayments and accrued income
16,165
12,000

411,617
295,655



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
7,643
12,100

Less: bank overdrafts
(13,032)
-

(5,389)
12,100


Page 7

 
PHASOR ESSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
13,032
-

Trade creditors
347,638
139,531

Amounts owed to group undertakings
367,960
246,684

Corporation tax
4,185
4,185

Other taxation and social security
29,410
13,153

Obligations under finance lease and hire purchase contracts
10,303
3,298

Other creditors
7,352
816

Accruals and deferred income
17,515
19,167

797,395
426,834



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
1,999
11,550

1,999
11,550



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
3,300
3,298

Between 1-5 years
8,250
11,550

11,550
14,848

Page 8

 
PHASOR ESSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



80 (2023 - 80) Ordinary A shares of £1.00 each
80
80
20 (2023 - 20) Ordinary B shares of £1.00 each
20
20

100

100


 
Page 9