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Registered number: 14576170
Phat Network Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 January 2025
Together We Count Limited
87 Heeley Bank Road
Sheffield
South Yorkshire
S2 3GL
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 14576170
31 January 2025 31 January 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,698 4,837
4,698 4,837
CURRENT ASSETS
Cash at bank and in hand 24,207 11,388
24,207 11,388
Creditors: Amounts Falling Due Within One Year (13,483 ) (2,447 )
NET CURRENT ASSETS (LIABILITIES) 10,724 8,941
TOTAL ASSETS LESS CURRENT LIABILITIES 15,422 13,778
Creditors: Amounts Falling Due After More Than One Year (692 ) (1,251 )
NET ASSETS 14,730 12,527
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 14,630 12,427
SHAREHOLDERS' FUNDS 14,730 12,527
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Page 2
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 January 2025 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Charlie Payne
Director
28 July 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Phat Network Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14576170 . The registered office is Harpers, High Street, Buxted, Uckfield, East Sussex, TN22 4JZ.
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. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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% Reducing balance method
Computer Equipment 33.33% Straight line method
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Total
£
Cost
As at 1 February 2024 7,079
Additions 3,026
As at 31 January 2025 10,105
Depreciation
As at 1 February 2024 2,242
Provided during the period 3,165
As at 31 January 2025 5,407
Net Book Value
As at 31 January 2025 4,698
As at 1 February 2024 4,837
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5. Share Capital
31 January 2025 31 January 2024
£ £
Allotted, Called up and fully paid 100 100
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