REGISTERED NUMBER: 05317556 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Phase2 Microwave Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Grist

C W Crook

K Hashmi

G A Dobbs

C J Radcliffe

REGISTERED OFFICE:

Unit 1, Boulton Road

Pin Green Industrial Estate

Stevenage

Hertfordshire

SG1 4QX

REGISTERED NUMBER:

05317556 (England and Wales)

ACCOUNTANTS:

D and E Accountancy Ltd

Tax Advisors and Accountants

2nd Floor, 2 Walsworth Road

Hitchin

Hertfordshire

SG4 9SP

FIXED ASSETS

Tangible assets

4

28,615

21,935

CURRENT ASSETS

Stocks

67,645

72,457

Debtors

5

57,245

107,566

Cash at bank and in hand

250,091

102,937

374,981

282,960

CREDITORS

Amounts falling due within one year

6

159,690

167,780

NET CURRENT ASSETS

215,291

115,180

TOTAL ASSETS LESS CURRENT LIABILITIES

243,906

137,115

CREDITORS

Amounts falling due after more than one year

7

50,000

70,000

NET ASSETS

193,906

67,115

CAPITAL AND RESERVES

Called up share capital

9

4,805

4,805

Retained earnings

189,101

62,310

SHAREHOLDERS' FUNDS

193,906

67,115

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

C W Crook - Director

K Hashmi - Director

G A Dobbs - Director

1.	STATUTORY INFORMATION

Phase2 Microwave Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

41,148

7,625

63,102

111,875

Additions

2,254

-

10,549

12,803

At 31 December 2024

43,402

7,625

73,651

124,678

DEPRECIATION

At 1 January 2024

28,724

6,342

54,874

89,940

Charge for year

1,468

128

4,527

6,123

At 31 December 2024

30,192

6,470

59,401

96,063

NET BOOK VALUE

At 31 December 2024

13,210

1,155

14,250

28,615

At 31 December 2023

12,424

1,283

8,228

21,935

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

30,311

43,179

Other debtors

26,934

64,387

57,245

107,566

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

201

201

Trade creditors

54,011

103,491

Taxation and social security

57,094

13,562

Other creditors

48,384

50,526

159,690

167,780

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

50,000

70,000

8.	DEFERRED TAX

£

Balance at 1 January 2024

(50,096

)

Accelerated Capital Allowances

34,819

Balance at 31 December 2024

(15,277

)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

3,000

Ordinary

£1

3,000

3,000

1,555

A Shares

£1

1,555

1,555

250

B shares

£1

250

250

4,805

4,805

10.	RELATED PARTY DISCLOSURES

During the period the company sold products to the value of £6,098 (last year £16,175) and purchased materials and services including rent to the value of £41,258 (last year £62,566) from Alroy Microwave & Electronics Limited, a company under the control of the director D Grist.

11.	ULTIMATE CONTROL

The company is under the control of the Directors, no individual controls the company.