Pharos Group Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03795831 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 30 September 2024

for

Pharos Group Limited

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,461,657

1,490,842

Investments

5

49

1,461,706

1,490,891

CURRENT ASSETS

Debtors

851,307

774,577

Cash at bank

107,016

80,168

958,323

854,745

CREDITORS

Amounts falling due within one year

1,384,789

1,750,044

NET CURRENT LIABILITIES

(426,466

)

(895,299

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,035,240

595,592

PROVISIONS FOR LIABILITIES

565

1,802

NET ASSETS

1,034,675

593,790

CAPITAL AND RESERVES

Called up share capital

337,100

Revaluation reserve

6

150,641

Retained earnings

546,934

106,049

1,034,675

593,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 January 2025 and were signed by:

Mr R W Apted - Director

1.	STATUTORY INFORMATION

Pharos Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03795831

Registered office:

Keytec 7 Business Park

26 - 28 Kempton Road

Pershore

Worcestershire

WR10 2TA

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Pharos Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover from the supply of services represents the value of services provided to customers and other group companies to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Tangible fixed assets

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses, with the exception of land and buildings that are measured at fair value.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:

Freehold property - land - not depreciated

Freehold property - buildings - 2% on cost

Motor vehicles - 25% on cost

Computer equipment - 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of an asset, and is credited or charged to the profit or loss.

Land and buildings rented to other group companies are classed as tangible fixed assets (and not as investment properties).

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial instruments are recognised when the company becomes party to contractual provisions of the instrument. Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 October 2023

1,645,089

Additions

845

Disposals

(7,292

)

At 30 September 2024

1,638,642

DEPRECIATION

At 1 October 2023

154,247

Charge for year

25,165

Eliminated on disposal

(2,427

)

At 30 September 2024

176,985

NET BOOK VALUE

At 30 September 2024

1,461,657

At 30 September 2023

1,490,842

Included in cost or valuation of land and buildings is freehold land of £ 413,298 (2023 - £ 413,298 ) which is not depreciated.

Cost or valuation at 30 September 2024 is represented by:

Totals

£

Valuation in 2021

150,641

Cost

1,488,001

1,638,642

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

30.9.24

30.9.23

£

Cost

1,474,359

Aggregate depreciation

68,351

Value of land in freehold land and buildings

384,198

Freehold land and buildings were valued on an open market basis on 1 September 2021 by BNP Paribas Real Estate .

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 October 2023

and 30 September 2024

49

NET BOOK VALUE

At 30 September 2024

49

At 30 September 2023

49

6.

RESERVES

Revaluation

reserve

£

At 1 October 2023

and 30 September 2024

150,641

7.	ULTIMATE PARENT COMPANY

PARENT COMPANY

The parent company is Apted Holdings Limited, whose registered office is Keytec 7 Business Park, 26-28 Kempton Road, Pershore, Worcestershire, WR10 2TA.

ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Pharos Group Employee Benefit Trust.