Company Registration No. 6549646 (England and Wales)
Phase Electrics Limited
Unaudited accounts
for the year ended 31 March 2025
Phase Electrics Limited
Unaudited accounts
Contents
Phase Electrics Limited
Company Information
for the year ended 31 March 2025
Company Number
6549646 (England and Wales)
Registered Office
7 Wrights Orchard
Keyworth
Nottingham
NG12 5RE
Accountants
R Suggett
Ridgeway House
59 Burnside Drive
Bramcote Hills
Nottingham
NG9 3EF
Phase Electrics Limited
Accountants' report
Accountants' report to the director of Phase Electrics Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Phase Electrics Limited for the year ended
31 March 2025 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Phase Electrics Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Phase Electrics Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phase Electrics Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Phase Electrics Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Phase Electrics Limited. You consider that Phase Electrics Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Phase Electrics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
R Suggett
Ridgeway House
59 Burnside Drive
Bramcote Hills
Nottingham
NG9 3EF
30 November 2025
Phase Electrics Limited
Statement of financial position
as at 31 March 2025
Tangible assets
3,712
3,647
Cash at bank and in hand
2,245
2,489
Creditors: amounts falling due within one year
(2,676)
(4,514)
Net current assets
1,516
1,071
Total assets less current liabilities
5,228
4,718
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
4,422
3,925
Shareholders' funds
4,522
4,025
For the year ending 31 March 2025 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 November 2025 and were signed on its behalf by
R J Chisnall
Director
Company Registration No. 6549646
Phase Electrics Limited
Notes to the Accounts
for the year ended 31 March 2025
Phase Electrics Limited is a private company, limited by shares, registered in England and Wales, registration number 6549646. The registered office is 7 Wrights Orchard, Keyworth, Nottingham, NG12 5RE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Statement of Compliance
The financial statements of the company for the year ended 31 March 2025 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland ( FRS 102 1A) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
The accounts are presented in £ sterling.
Turnover represents the invoice value of goods and services supplied by the company to outside customers. The company is not registered for value added tax.
Tangible fixed assets and depreciation policy
Tangible fixed assets are stated at cost less accumulated depreciation.
The charge to depreciation is calculated to write off the original cost of tangible fixed assets less their estimated residual value over their expected useful lives at the following rates:-
The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.
Depreciation has been provided to write off the cost less estimated residual value of all tangible fixed assets over their expected useful lives at the following rates:-
Plant & machinery
25% per annum reducing balance
Motor vehicles
25% per annum reducing balance
Computer equipment
33 1/3% per annum straight line
Stocks and work-in-progress are valued at the lower of cost and net realisable value by the director based on estimates of the stage of completion of projects.
Full provision is made for obsolete and slow moving items.
Phase Electrics Limited
Notes to the Accounts
for the year ended 31 March 2025
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand and demand deposits with banks.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
Current tax represents the amount expected to be paid or received in respect of the taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.
Deferred tax is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
13,398
11,394
2,160
26,952
At 31 March 2025
13,398
11,394
3,625
28,417
At 1 April 2024
11,779
9,366
2,160
23,305
Charge for the year
405
507
488
1,400
At 31 March 2025
12,184
9,873
2,648
24,705
At 31 March 2025
1,214
1,521
977
3,712
At 31 March 2024
1,619
2,028
-
3,647
Amounts falling due within one year
Accrued income and prepayments
1,207
1,296
Phase Electrics Limited
Notes to the Accounts
for the year ended 31 March 2025
6
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
808
2,054
Loans from directors
314
193
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Transactions with related parties
The balance on the directors' loan account represents sundry amounts introduced into the company, the payment of the dividend of £3000 less sundry amounts withdrawn.
R J Chisnall owns 100% of the ordinary share capital.
10
Average number of employees
During the year the average number of employees was 1 (2024: 1).