Acorah Software Products - Accounts Production 16.2.850 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 09661324 A Abdullah Alnaim D E Cray J C Knight S Omar Alblehed R Simmance-Freemantle F Omar Alblehed true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09661324 2023-12-31 09661324 2024-12-31 09661324 2024-01-01 2024-12-31 09661324 frs-core:CurrentFinancialInstruments 2024-12-31 09661324 frs-core:ComputerEquipment 2024-12-31 09661324 frs-core:ComputerEquipment 2024-01-01 2024-12-31 09661324 frs-core:ComputerEquipment 2023-12-31 09661324 frs-core:FurnitureFittings 2024-12-31 09661324 frs-core:FurnitureFittings 2024-01-01 2024-12-31 09661324 frs-core:FurnitureFittings 2023-12-31 09661324 frs-core:WithinOneYear 2024-12-31 09661324 frs-core:SharePremium 2024-12-31 09661324 frs-core:ShareCapital 2024-12-31 09661324 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 09661324 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09661324 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 09661324 frs-bus:SmallEntities 2024-01-01 2024-12-31 09661324 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09661324 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09661324 frs-bus:OrdinaryShareClass2 2024-01-01 2024-12-31 09661324 frs-bus:OrdinaryShareClass2 2024-12-31 09661324 frs-bus:OrdinaryShareClass3 2024-01-01 2024-12-31 09661324 frs-bus:OrdinaryShareClass3 2024-12-31 09661324 1 2024-01-01 2024-12-31 09661324 frs-core:CostValuation 2023-12-31 09661324 frs-core:AdditionsToInvestments 2024-12-31 09661324 frs-core:CostValuation 2024-12-31 09661324 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 09661324 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 09661324 frs-bus:Director1 2024-01-01 2024-12-31 09661324 frs-bus:Director2 2024-01-01 2024-12-31 09661324 frs-bus:Director3 2024-01-01 2024-12-31 09661324 frs-bus:Director4 2024-01-01 2024-12-31 09661324 frs-bus:Director5 2024-01-01 2024-12-31 09661324 frs-bus:Director6 2024-01-01 2024-12-31 09661324 frs-countries:EnglandWales 2024-01-01 2024-12-31 09661324 2022-12-31 09661324 2023-12-31 09661324 2023-01-01 2023-12-31 09661324 frs-core:CurrentFinancialInstruments 2023-12-31 09661324 frs-core:WithinOneYear 2023-12-31 09661324 frs-core:SharePremium 2023-12-31 09661324 frs-core:ShareCapital 2023-12-31 09661324 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09661324 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 09661324 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31
Registered number: 09661324
Phizz Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Square Mile Accounting Limited
Arquen House
4-6 Spicer Street
St. Albans
AL3 4PQ
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 09661324
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,691 1,919
Investments 5 105 83
9,796 2,002
CURRENT ASSETS
Stocks 6 363,951 282,136
Debtors 7 1,357,706 666,111
Cash at bank and in hand 426,678 99,766
2,148,335 1,048,013
Creditors: Amounts Falling Due Within One Year 8 (624,447 ) (406,401 )
NET CURRENT ASSETS (LIABILITIES) 1,523,888 641,612
TOTAL ASSETS LESS CURRENT LIABILITIES 1,533,684 643,614
NET ASSETS 1,533,684 643,614
CAPITAL AND RESERVES
Called up share capital 9 167 167
Share premium account 2,599,933 2,599,933
Income Statement (1,066,416 ) (1,956,486 )
SHAREHOLDERS' FUNDS 1,533,684 643,614
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Page 2
For the year 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
D E Cray
Director
3rd April 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Phizz Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09661324 . The registered office is The Bloomsbury Building, 10 Bloomsbury Way, Holborn, WC1A 2SL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Research and Development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.7. Stocks and Work in Progress
Stocks are valued at lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and any appropriate proportion of fixed and variable overheads.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 9)
11 9
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 950 5,248 6,198
Additions 2,354 8,395 10,749
Disposals - (5,247 ) (5,247 )
As at 31 December 2024 3,304 8,396 11,700
Depreciation
As at 1 January 2024 356 3,923 4,279
Provided during the period 564 1,372 1,936
Disposals - (4,206 ) (4,206 )
As at 31 December 2024 920 1,089 2,009
Net Book Value
As at 31 December 2024 2,384 7,307 9,691
As at 1 January 2024 594 1,325 1,919
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5. Investments
Subsidiaries
£
Cost
As at 1 January 2024 83
Additions 22
As at 31 December 2024 105
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 105
As at 1 January 2024 83
Investments in subsidiaries are measured at cost less accumulated impairment
6. Stocks
2024 2023
£ £
Finished goods 363,951 282,136

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,007,054 623,226
Prepayments and accrued income 25,282 26,874
Other debtors 15,203 16,011
Deferred tax current asset 310,167 -
1,357,706 666,111
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 227,712 164,582
Bank loans and overdrafts 21,147 7,990
Other taxes and social security 28,698 18,411
VAT 79,042 97,763
Other creditors 22 88,113
Accruals and deferred income 267,826 29,542
624,447 406,401
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9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
5,417 Ordinary A shares of £ 0.010 each 54 54
11,249 Ordinary B shares of £ 0.010 each 113 113
167 167
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 28,126 18,391
28,126 18,391
11. Ultimate Controlling Party
The controlling party is WA Ventures Holdings.
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