Registered number
12873991
Polyphase Consulting Limited
Unaudited Filleted Accounts
30 September 2024
Polyphase Consulting Limited
Registered number: 12873991
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,024 4,400
Current assets
Debtors 4 38,022 28,669
Cash at bank and in hand 16,390 19,021
54,412 47,690
Creditors: amounts falling due within one year 5 (54,594) (50,860)
Net current liabilities (182) (3,170)
Total assets less current liabilities 842 1,230
Provisions for liabilities (271) (1,166)
Net assets 571 64
Capital and reserves
Called up share capital 100 2
Profit and loss account 471 62
Shareholders' funds 571 64
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Paul Stenhouse
Director
Approved by the board on 20 June 2025
Polyphase Consulting Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles over 4 years
Computer Equipment over 2 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 7,231 17,603 24,834
Additions 2,048 - 2,048
At 30 September 2024 9,279 17,603 26,882
Depreciation
At 1 October 2023 7,231 13,203 20,434
Charge for the year 1,024 4,400 5,424
At 30 September 2024 8,255 17,603 25,858
Net book value
At 30 September 2024 1,024 - 1,024
At 30 September 2023 - 4,400 4,400
4 Debtors 2024 2023
£ £
Trade debtors 35,043 22,836
VAT Debtor 522 262
Other debtors 2,457 5,571
38,022 28,669
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,160 2,753
Taxation and social security costs 46,223 38,392
Other creditors 4,211 9,715
54,594 50,860
6 Related party transactions
Nicola Taylor transactions with shareholder
Nicola Taylor was previously a director of the company and is now Company Secretary/Employee and shareholder and also operates a current account with the company to record amounts due to her and amounts drawn by her. As at 30th September 2024 the account showed an amount owed to Nicola Taylor of £730.70 (2023: £1272.71)
7 Transactions with Director
During the year the Paul Stenhouse director of Polyphase Consulting Limited, used a current account with the company to record amounts due to him and amounts drawn by him. As at the 30th September 2024 the directors loan accounts showed an amount owed to Paul Stenhouse of £133.72 (2023: £7,316.50).
8 Controlling party
Dr Paul Stenhouse is the sole director and a 75% shareholder of Polyphase Consulting Limited and is therefore the ultimate controlling party.
9 Other information
Polyphase Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Everest Drive
Crickhowell
Powys
NP8 1DH
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