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Company Registration No. 09808170 (England and Wales)
PHRISM SOLUTIONS LTD Unaudited Financial Statements for the year ended 31 October 2024
PHRISM SOLUTIONS LTD Unaudited Financial Statements Contents
Page
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PHRISM SOLUTIONS LTD Company Information for the year ended 31 October 2024
Directors
Muneer Basha KAREEN NAZEER BASHA Ashia Sultana MUNEER BASHA
Company Number
09808170 (England and Wales)
Registered Office
16 STONELEIGH COURT FRIMLEY CAMBERLEY GU16 8XH ENGLAND
Accountants
Zeal Resolution LTD 234 Uxbridge Road Hampton Hill Hampton Middlesex TW12 1AY
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PHRISM SOLUTIONS LTD Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
79,881 
5,954 
Current assets
Debtors
946,217 
421,718 
Cash at bank and in hand
1,147,270 
1,336,016 
2,093,487 
1,757,734 
Creditors: amounts falling due within one year
(815,584)
(871,768)
Net current assets
1,277,903 
885,966 
Total assets less current liabilities
1,357,784 
891,920 
Provisions for liabilities
Deferred tax
(19,976)
- 
Net assets
1,337,808 
891,920 
Capital and reserves
Called up share capital
203 
203 
Share premium
700 
700 
Profit and loss account
1,336,905 
891,017 
Shareholders' funds
1,337,808 
891,920 
For the year ending 31 October 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2025 and were signed on its behalf by
Muneer Basha KAREEN NAZEER BASHA Director Company Registration No. 09808170
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PHRISM SOLUTIONS LTD Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
PHRISM SOLUTIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 09808170. The registered office is 16 STONELEIGH COURT, FRIMLEY, CAMBERLEY, GU16 8XH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Straight line
Computer equipment
25% Straight line
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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PHRISM SOLUTIONS LTD Notes to the Accounts for the year ended 31 October 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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PHRISM SOLUTIONS LTD Notes to the Accounts for the year ended 31 October 2024
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2023
- 
10,828 
10,828 
Additions
79,999 
6,547 
86,546 
At 31 October 2024
79,999 
17,375 
97,374 
Depreciation
At 1 November 2023
- 
4,874 
4,874 
Charge for the year
9,333 
3,286 
12,619 
At 31 October 2024
9,333 
8,160 
17,493 
Net book value
At 31 October 2024
70,666 
9,215 
79,881 
At 31 October 2023
- 
5,954 
5,954 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
155,370 
328,870 
Accrued income and prepayments
4,406 
25,973 
Other debtors
138,902 
66,875 
298,678 
421,718 
Amounts falling due after more than one year
Other debtors
647,539 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
87,794 
105,846 
Trade creditors
- 
5,000 
Taxes and social security
200,675 
202,922 
Proposed dividends
105,000 
- 
Accruals
422,115 
558,000 
815,584 
871,768 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200 
200 
3 Ordinary shares of £1 each
3 
3 
203 
203 
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PHRISM SOLUTIONS LTD Notes to the Accounts for the year ended 31 October 2024
8
Pension commitments
Defined contribution pension scheme The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £143,200 (2023 - 96,000)
9
Transactions with related parties
During the year, the Directors neither received further loan nor repaid any. Interest was charged at an annual rate of 3%. At the balance sheet date, the amount due from/(to) the Directors was £16,793 (2023: £16,305).
10
Average number of employees
During the year the average number of employees was 18 (2023: 14).
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