REGISTERED NUMBER: 14522701 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 NOVEMBER 2023 TO 31 JANUARY 2024

FOR

PHAIDRA, LTD.

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTOR:

Mrs K E Hoffman

REGISTERED OFFICE:

3rd Floor

1 Ashley Road

Altrincham

Cheshire

WA14 2DT

REGISTERED NUMBER:

14522701 (England and Wales)

ACCOUNTANTS:

Allens Accountants Limited

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Property, plant and equipment

4

1,042

-

CURRENT ASSETS

Debtors

5

26,374

-

Cash at bank

29,756

-

56,130

-

CREDITORS

Amounts falling due within one year

6

63,114

-

NET CURRENT LIABILITIES

(6,984

)

-

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,942

)

-

RESERVES

Retained earnings

(5,942

)

-

SHAREHOLDERS' FUNDS

(5,942

)

-

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

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

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2025 and were signed by:

Mrs K E Hoffman - Director

1.	STATUTORY INFORMATION

Phaidra, Ltd. 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 represents income arising from services provided by the Company to its immediate parent under an intercompany service agreement. The Company operates on a cost-plus basis, recharging the costs incurred in providing support and development services in line with the intercompany services agreement.

Turnover is measured at the fair value of the consideration receivable, excluding value added tax, and reflects only the income earned by the company in its capacity as a service provider to the parent. Turnover is recognised over time as the related services are performed, when the amount of consideration can be measured reliably and recovery is probable.

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 etc

-

33% on cost and 20% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits, deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet, bank overdrafts are shown within borrowings or current liabilities.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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 period was 15 (2023 - NIL ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

Additions

1,073

At 31 January 2024

1,073

DEPRECIATION

Charge for period

31

At 31 January 2024

31

NET BOOK VALUE

At 31 January 2024

1,042

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/24

31/10/23

£

£

Other debtors

26,374

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/24

31/10/23

£

£

Trade creditors

217

-

Amounts owed to group undertakings

12,115

-

Taxation and social security

21,277

-

Other creditors

29,505

-

63,114

-

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/1/24

31/10/23

value:

£

£

100

Ordinary

$0.00

1

-

-

8.	ULTIMATE CONTROLLING PARTY

The Company is a wholly owned subsidiary of Phaidra, Inc., a company incorporated in the United States of America and registered at 92 Lenora Street #135, Seattle, Washington, 98121, United States.

The directors consider Phaidra, Inc. to be both the Company’s immediate and ultimate parent undertaking. There is no individual or entity with overall control of Phaidra, Inc., as no shareholder has a controlling interest.