Company No: 11567734 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mr. P. Smith
	Mrs. S. Smith

REGISTERED OFFICE	Century House
	Wargrave Road
	Henley-On-Thames
	RG9 2LT
	United Kingdom

COMPANY NUMBER

11567734 (England and Wales)

ACCOUNTANT	Verallo
	Century House
	Wargrave Road
	Henley-on-Thames
	Oxfordshire
	United Kingdom
	RG9 2LT

	Note	2024		2023
		£		£
Fixed assets
Investments	3	3,504,439		3,444,294
		3,504,439		3,444,294
Current assets
Debtors	4	299,339		317,349
Cash at bank and in hand		239,960		182,311
		539,299		499,660
Creditors: amounts falling due within one year	5	( 3,174,725)		( 3,320,209)
Net current liabilities		(2,635,426)		(2,820,549)
Total assets less current liabilities		869,013		623,745
Net assets		869,013		623,745
Capital and reserves
Called-up share capital	6	50		50
Fair value reserve		218,086		27,625
Profit and loss account		650,877		596,070
Total shareholders' funds		869,013		623,745

For the financial 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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Phian Ltd (registered number: 11567734) were approved and authorised for issue by the Board of Directors on 22 December 2025. They were signed on its behalf by:

Mr. P. Smith Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Phian Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Wargrave Road, Henley-On-Thames, RG9 2LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the balance sheet date the company's current liabilities exceeded its current assets. The day to day operation of the company is dependent upon support from its directors and lenders. On the assumption that such support will continue to be forthcoming, the director considers it appropriate to prepare the financial statements on a going concern basis.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Fixed asset investments

	Listed investments		Investments in associates		Total
	£		£		£
Cost or valuation before impairment
At 01 January 2024	2,914,244		530,050		3,444,294
Disposals	( 219,721)		0		( 219,721)
Movement in fair value	279,916		0		279,916
At 31 December 2024	2,974,439		530,050		3,504,489
Provisions for impairment
At 01 January 2024	0		0		0
Impairment	0		50		50
At 31 December 2024	0		50		50
Carrying value at 31 December 2024	2,974,439		530,000		3,504,439
Carrying value at 31 December 2023	2,914,244		530,050		3,444,294

4. Debtors

	2024		2023
	£		£
Amounts owed by related parties	299,339		317,349

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Taxation and social security	4,770		3,022
Other creditors	3,169,955		3,317,187
	3,174,725		3,320,209

6. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
2,500 Ordinary A shares of £ 0.01 each	25		25
2,500 Ordinary B shares of £ 0.01 each	25		25
	50		50