Phase 2 Planning & Development Limited


Directors	Mr T Dodkins
	Mr M Wood


Registered Address	1st Floor, 11 Freeport Office Village
	Century Drive
	Braintree
	CM77 8YG


Registered Number	07796227 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		512,858		530,196
			512,858		530,196
Current assets
Debtors	4	440,723		481,902
Cash at bank and on hand		41,848		18,781
		482,571		500,683
Creditors amounts falling due within one year	5	(295,486)		(288,632)
Net current assets (liabilities)			187,085		212,051
Total assets less current liabilities			699,943		742,247
Creditors amounts falling due after one year	6		(153,130)		(194,597)
Provisions for liabilities	7		(12,928)		(14,757)
Net assets			533,885		532,893
Capital and reserves
Called up share capital			100		100
Profit and loss account			533,785		532,793
Shareholders' funds			533,885		532,893

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 15 September 2025, and are signed on its behalf by:

Mr T Dodkins
Director
Registered Company No. 07796227

Phase 2 Planning & Development Limited

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	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.

	Revenue from sale of goods
	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.

Revenue from sale of goods

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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	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.

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.

	Deferred tax
	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.

Deferred tax

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.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	2
Fixtures and fittings	25	-
Office Equipment	25	-

2.	Average number of employees


		2024		2023
	Average number of employees during the year	10		11

3.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	537,218	26,388	47,534	611,140
Additions	-	87	-	87
At 31 December 24	537,218	26,475	47,534	611,227
Depreciation and impairment
At 01 January 24	33,672	20,539	26,733	80,944
Charge for year	10,744	1,480	5,201	17,425
At 31 December 24	44,416	22,019	31,934	98,369
Net book value
At 31 December 24	492,802	4,456	15,600	512,858
At 31 December 23	503,546	5,849	20,801	530,196

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	198,706	233,739
Other debtors	88,892	60,885
Prepayments and accrued income	153,125	187,278
Total	440,723	481,902

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	18,587	18,585
Bank borrowings and overdrafts	62,121	60,590
Taxation and social security	190,415	190,616
Other creditors	21,459	15,937
Accrued liabilities and deferred income	2,904	2,904
Total	295,486	288,632

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	153,130	194,597
Total	153,130	194,597

7.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	12,928	14,757
Total	12,928	14,757

8.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
Mr M Wood	45,521	31,980	11,002	66,499
2024: Interest charged at 2.25%
Mr M Wood	0	50,563	5,042	45,521
2023: Interest charged at 2.25%
	45,521	82,543	16,044	112,020