Company Registration No. 08410525 (England and Wales)
PHETALZ LTD
Unaudited accounts
for the year ended 28 February 2025
PHETALZ LTD
Company Information
for the year ended 28 February 2025
Directors
Waheedat Owodeyi
Adekunle Owodeyi
Secretary
Waheedat Owodeyi
Company Number
08410525 (England and Wales)
Registered Office
4 Ives Way
Hopton
Great Yarmouth
NR31 9TN
Accountants
Brown & Bam Associates
143 Pembury Avenue
Worcester Park
Surrey
County (optional)
KT4 8BX
PHETALZ LTD
Accountants' report
Accountants' report to the board of directors of PHETALZ LTD on the preparation of the unaudited statutory accounts for the year ended 28 February 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
PHETALZ LTD for the year ended
28 February 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 PHETALZ LTD, 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 PHETALZ LTD 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 PHETALZ LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that PHETALZ LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of PHETALZ LTD. You consider that PHETALZ LTD 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 PHETALZ LTD. 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.
Brown & Bam Associates
143 Pembury Avenue
Worcester Park
Surrey
County (optional)
KT4 8BX
28 November 2025
PHETALZ LTD
Statement of financial position
as at 28 February 2025
Tangible assets
6,593
9,527
Cash at bank and in hand
-
32,323
Creditors: amounts falling due within one year
(124,362)
(95,915)
Net current assets
106,290
176,638
Total assets less current liabilities
112,883
186,165
Creditors: amounts falling due after more than one year
(39,648)
(55,689)
Called up share capital
1,000
1,000
Profit and loss account
72,235
129,476
Shareholders' funds
73,235
130,476
For the year ending 28 February 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 directors acknowledge their 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 of Directors and authorised for issue on 28 November 2025 and were signed on its behalf by
Waheedat Owodeyi
Director
Company Registration No. 08410525
PHETALZ LTD
Notes to the Accounts
for the year ended 28 February 2025
PHETALZ LTD is a private company, limited by shares, registered in England and Wales, registration number 08410525. The registered office is 4 Ives Way, Hopton, Great Yarmouth, NR31 9TN.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Other tangible fixed assets
20
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
PHETALZ LTD
Notes to the Accounts
for the year ended 28 February 2025
The board of directors has a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. For these reasons, the board decides to continue to adopt the going concern basis in preparing the financial statements for the company.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2024
16,266
18,651
3,234
10,524
48,675
Additions
4,497
-
-
-
4,497
At 28 February 2025
20,763
18,651
3,234
10,524
53,172
At 1 March 2024
16,266
14,951
2,918
5,013
39,148
Charge for the year
899
3,700
315
2,517
7,431
At 28 February 2025
17,165
18,651
3,233
7,530
46,579
At 28 February 2025
3,598
-
1
2,994
6,593
At 29 February 2024
-
3,700
316
5,511
9,527
Amounts falling due within one year
Amounts due from group undertakings etc.
7,800
7,800
Accrued income and prepayments
24,971
24,971
Amounts falling due after more than one year
Amounts due from group undertakings etc.
161,467
160,327
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
35,138
24,063
Amounts owed to group undertakings and other participating interests
30,493
30,496
Taxes and social security
-
8,004
Other creditors
37,506
12,127
Loans from directors
18,000
18,000
PHETALZ LTD
Notes to the Accounts
for the year ended 28 February 2025
7
Creditors: amounts falling due after more than one year
2025
2024
8
Average number of employees
During the year the average number of employees was 6 (2024: 8).