| REGISTERED NUMBER: |
| PHL PROFESSIONALS LTD |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| REGISTERED NUMBER: |
| PHL PROFESSIONALS LTD |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| PHL PROFESSIONALS LTD (REGISTERED NUMBER: 12186050) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 |
| PHL PROFESSIONALS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Fryern House |
| 125 Winchester Road |
| Chandlers Ford |
| Hampshire |
| SO53 2DR |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PHL PROFESSIONALS LTD |
| 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. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PHL Professionals Ltd for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of PHL Professionals Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PHL Professionals Ltd and state those matters that we have agreed to state to the Board of Directors of PHL Professionals Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PHL Professionals Ltd and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that PHL Professionals Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PHL Professionals Ltd. You consider that PHL Professionals Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of PHL Professionals Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Fryern House |
| 125 Winchester Road |
| Chandlers Ford |
| Hampshire |
| SO53 2DR |
| PHL PROFESSIONALS LTD (REGISTERED NUMBER: 12186050) |
| BALANCE SHEET |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| PHL PROFESSIONALS LTD (REGISTERED NUMBER: 12186050) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | COMPANY INFORMATION |
| PHL Professionals Ltd is a private company, limited by shares, incorporated in England and Wales. The registered office address is Onyx, 12 Little Park Farm Road, Segensworth Roundabout, West Fareham, PO15 5TD. The company's registered number is 12186050. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentation currency is £ sterling. |
| The company was dormant throughout the year ended 30 September 2024. However, reference to information relating to the year ended 30 September 2023 has been made where appropriate. |
| Significant judgements and estimates |
| The directors consider that there are no significant judgements and estimates. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| 5. | CONTINGENT LIABILITIES |
| The company has a cross guarantee with its group company, PHL Group Midco Limited, in favour of MNL Nominees Limited to guarantee its loan notes. The total indebtedness at the balance sheet date is £8,127,693 (2023: £7,508,733). |
| The company has a cross guarantee with its group company, PHL Group Midco Limited, in favour of Dr Timothy Wright to guarantee his loan notes. The total indebtedness at the balance sheet date is £912,398 (2023: £Nil). |
| The company has a cross guarantee with its group company, PHL Group Midco Limited, in favour of Clive Boothby, Kenneth Patrick and Elizabeth Preston to guarantee their loan notes. The total indebtedness at the balance sheet date is £4,613,681 (2023: £Nil). |
| The company has a cross guarantee with its group company, PHL Group Finance Limited, in favour of TC Loans Limited to guarantee its loan. The total indebtedness at the balance sheet date is £13,000,000 (2023: £13,000,000). |
| 6. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| PHL PROFESSIONALS LTD (REGISTERED NUMBER: 12186050) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 7. | ULTIMATE PARENT COMPANY AND CONTROLLING PARTY |
| The immediate parent company is Partnering Health Limited, a company registered in England & Wales. The ultimate parent company is PHL Group Holdco Limited, a company registered in England & Wales. |
| The smallest group in which the results of the company are consolidated is that headed by Partnering Health Limited. The largest group in which the results of the company are consolidated is that headed by PHL Group Holdco Limited. Both of these group accounts are available to the public and may be obtained from the Registrar of Companies. |
| The directors do not consider there to be an ultimate controlling party. |