Phundex UK Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 12207772

		2024		2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		664,611		664,611
Tangible Assets	5		(250,495 )		(250,495 )

			414,116		414,116
CURRENT ASSETS
Debtors	6	35		1,000
Investments	7	1,106		-
Cash at bank and in hand		313		528

		1,454		1,528
Creditors: Amounts Falling Due Within One Year	8	(1,069,194 )		(919,087 )

NET CURRENT ASSETS (LIABILITIES)			(1,067,740 )		(917,559 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(653,624 )		(503,443 )

Creditors: Amounts Falling Due After More Than One Year	9		11,689		12,000

NET LIABILITIES			(641,935 )		(491,443 )

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			(642,035 )		(491,543 )

SHAREHOLDERS' FUNDS			(641,935)		(491,443)

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Phundex UK Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs Heather-Anne Hubbell

Director

12/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Phundex UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12207772 . The registered office is 128 City Road, London, EC1V 2NX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	664,611

As at 31 December 2024	664,611

Net Book Value
As at 31 December 2024	664,611

As at 1 January 2024	664,611

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Phundex UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Plant & Machinery
	£
Depreciation
As at 1 January 2024	250,495

As at 31 December 2024	250,495

Net Book Value
As at 31 December 2024	(250,495 )

As at 1 January 2024	(250,495 )

Amortisation on Phundex software platform

6. Debtors

	2024	2023 as restated
	£	£
Due within one year
Trade debtors	-	688
Other debtors	35	312

	35	1,000

7. Current Asset Investments

	2024	2023 as restated
	£	£
Short term deposits	10,000	-
Other investments, held for sale	(8,894 )	-

	1,106	-

8. Creditors: Amounts Falling Due Within One Year

	2024	2023 as restated
	£	£
Trade creditors	723,709	581,523
Bank loans and overdrafts	4,094	95
Intercompany - Environs	(13 )	(13 )
Payable to Heather-Anne Hubbell	8,642	1,222
Other creditors	332,762	336,260

	1,069,194	919,087

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023 as restated
	£	£
Inter-company Hubbell Ventures Limited	(11,689 )	(12,000 )

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Phundex UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Share Capital

	2024	2023 as restated
	£	£
Allotted, Called up and fully paid	100	100

11. Related Party Transactions

Related party transactions of a similar nature are aggregated unless, in the opinion of the directors, separate disclosure is necessary to understand the effect of the transactions on the financial statements.

12. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Phundex Limited . Phundex Limited was incorporated in Jersey, Channel Islands. Copies of the group accounts may be obtained from the secretary, 43 Le Vier Mont, St Helier Jersey, JE2 4NG . The ultimate controlling party is Phundex Limited who controls 85% of the shares of Phundex UK Ltd .

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