REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
PHONEMERCHANT LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
PHONEMERCHANT LIMITED |
PHONEMERCHANT LIMITED (REGISTERED NUMBER: 07307837) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 2 |
PHONEMERCHANT LIMITED (REGISTERED NUMBER: 07307837) |
BALANCE SHEET |
31 JULY 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
Provisions for liabilities | 9 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Retained earnings |
Shareholders' funds |
The director acknowledges his 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 were approved by the director and authorised for issue on |
PHONEMERCHANT LIMITED (REGISTERED NUMBER: 07307837) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | Statutory information |
Phonemerchant Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07307837. The registered office is 21a Catherine Street, Salisbury, Wiltshire, SP1 2DF and business address is Unit 3a, Rose Hill Business Units, Mount Carmel Road, Palestine, Andover, Hampshire, SP11 7ER. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts receivable for mobile phones sold during the year. |
Tangible fixed assets |
Website development | - |
Phone equipment | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stock and Work In Progress are valued at the lower of cost and net realisable value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
PHONEMERCHANT LIMITED (REGISTERED NUMBER: 07307837) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
4. | Tangible fixed assets |
Fixtures |
Website | Phone | and | Computer |
development | equipment | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 August 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 July 2024 |
Depreciation |
At 1 August 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Tax |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Tax |
Directors' current accounts | 5,644 | 6,244 |
Accruals and deferred income |
7. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
PHONEMERCHANT LIMITED (REGISTERED NUMBER: 07307837) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
8. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 August 2023 |
Credit to Income statement during year | ( |
) |
Balance at 31 July 2024 |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1 | 10,000 | 10,000 |
Ordinary B | £1 | 1,000 | 1,000 |
11,000 | 11,000 |
11. | Ultimate controlling party |
Mr A Luckett is deemed to be the ultimate controlling party by virtue of his 100% ownership of the voting share capital. |