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REGISTERED NUMBER: 10246903 (England and Wales)















PHI PIE LIMITED

Unaudited Financial Statements For The Year Ended 30 September 2024






PHI PIE LIMITED (REGISTERED NUMBER: 10246903)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

PHI PIE LIMITED

Company Information
For The Year Ended 30 September 2024







DIRECTORS: Ms E Dagla
Ms M Vogiatzeri





SECRETARY: I Daglas





REGISTERED OFFICE: Unit 27 Denmark Street Industrial Estate
Byker
Newcastle Upon Tyne
NE6 2XF





REGISTERED NUMBER: 10246903 (England and Wales)





ACCOUNTANTS: Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD

PHI PIE LIMITED (REGISTERED NUMBER: 10246903)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 - 1,605
Cash at bank 3 7
3 1,612
CREDITORS
Amounts falling due within one year 5 142,666 148,447
NET CURRENT LIABILITIES (142,663 ) (146,835 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(142,663

)

(146,835

)

CREDITORS
Amounts falling due after more than one
year

6

13,143

13,143
NET LIABILITIES (155,806 ) (159,978 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (155,807 ) (159,979 )
(155,806 ) (159,978 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PHI PIE LIMITED (REGISTERED NUMBER: 10246903)

Balance Sheet - continued
30 September 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:




Ms E Dagla - Director



Ms M Vogiatzeri - Director


PHI PIE LIMITED (REGISTERED NUMBER: 10246903)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Phi Pie Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements
There were no judgements made that were significant enough to warrant disclosure.

Turnover
Turnover is stated net of value added tax and represents the total receivable by the company. The revenue is recognised on the delivery of products.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Significant estimates
There were no estimates made that were significant enough to warrant disclosure.

PHI PIE LIMITED (REGISTERED NUMBER: 10246903)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Solvency
With a cumulative negative figure of £159,979 (£98,229 - 2022) reported in the profit and loss reserve, the company is technically insolvent. The Directors have decided to suspend trading and review their position before deciding upon their next step.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 11 ).

4. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
VAT - 536

Amounts falling due after more than one year:
Other debtors - 1,069

Aggregate amounts - 1,605

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,570 7,510
Other loans 5,000 5,000
Trade creditors 1,286 -
Social security and other taxes - 3,925
Other creditors 20,122 23,724
Customs & Excise (583 ) -
Directors' current accounts 109,857 105,798
Accrued expenses 414 2,490
142,666 148,447

Included in other creditors are amounts owed to the Directors, this year they were owed £109,857 (£105,798 - 2023).

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 7,510 7,510
Bank loans - 2-5 years 5,633 5,633
13,143 13,143

7. RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken that required disclosure under FRS 102 section 1A small entities.

PHI PIE LIMITED (REGISTERED NUMBER: 10246903)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

8. SOLVENCY

With a cumulative but improved negative figure of £155,627 (£159,979 - 2023) reported in the profit and loss reserve, the company is technically insolvent. The Directors have decided to suspend trading and review their position before deciding upon their next step. The company does not take credit from its suppliers without extending a personal guarantee and so no other traders are put at risk.

PHI PIE LIMITED

Report of the Accountants to the Directors of
Phi Pie Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD


25 March 2025