Phygrid Limited - Filleted accounts

Registered number

13123228

Phygrid Limited

Filleted Accounts

31 December 2024

Phygrid Limited
Registered number:		13123228
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		2,945			3,681
Investments	4		62,156			-
			65,101			3,681

Current assets
Debtors	5	790,256			52,474
Prepaid expenses		3,778			-
Cash at bank and in hand		21,937			156
		815,971			52,630

Creditors: amounts falling due within one year	6	(993,022)			(156,184)

Net current liabilities			(177,051)			(103,554)

Net liabilities			(111,950)			(99,873)

Capital and reserves
Called up share capital			50			50
Profit and loss account			(112,000)			(99,923)

Shareholders' funds			(111,950)			(99,873)

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.




Per Gunnar Andreas Hassellof
Director
Approved by the board on 25 September 2025

Phygrid Limited
Notes to the Accounts
for the year ended 31 December 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:

	Fixtures, fittings, tools and equipment	20% Reducing Balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	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.

	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		1		1


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 January 2024				8,626
	At 31 December 2024				8,626

	Depreciation
	At 1 January 2024				4,945
	Charge for the year				736
	At 31 December 2024				5,681

	Net book value
	At 31 December 2024				2,945
	At 31 December 2023				3,681


4	Investments

Other
investments
£
	Cost
	Additions				62,156

	At 31 December 2024				62,156


5	Debtors		2024		2023
£				£

	Trade debtors		50,239		20,374
	Amounts owed by group undertakings and undertakings in which the company has a participating interest		626,150		32,100
	Other debtors		113,867		-
			790,256		52,474


6	Creditors: amounts falling due within one year		2024		2023
£				£

	Trade creditors		12,975		-
	Amounts owed to group undertakings and undertakings in which the company has a participating interest		776,002		-
	Taxation and social security costs		(3,060)		3,286
	Other creditors		207,105		152,898
			993,022		156,184


7	Controlling party

	The controlling party of the company is Ombori Apps AB which holds all shares.


8	Other information

	Phygrid Limited is a private company limited by shares and incorporated in England. Its registered office is:
	71-75 Shelton Street
	London
	Greater London
	United Kingdom
	WC2H 9JQ