Phone Spot Ltd - Filleted accounts

Registered number

SC531502

Phone Spot Ltd

Filleted Accounts

31 March 2025

Phone Spot Ltd
Registered number:		SC531502
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		615,027			484,696

Current assets
Stocks		17,850			18,250
Debtors	4	146,320			128,498
Cash at bank and in hand		124			1,041
		164,294			147,789

Creditors: amounts falling due within one year	5	(307,713)			(115,828)

Net current (liabilities)/assets			(143,419)			31,961

Total assets less current liabilities			471,608			516,657

Creditors: amounts falling due after more than one year	6		(415,070)			(463,962)



Net assets			56,538			52,695

Capital and reserves
Called up share capital			100			100
Profit and loss account			56,438			52,595

Shareholder's funds			56,538			52,695

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr. Imtiyaz Ansari
Director
Approved by the board on 9 December 2025

Phone Spot Ltd
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	20% on reducing balance
	Fixtures, fittings, tools and equipment	20% on reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			2		4


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 April 2024	480,845		9,492		490,337
	Additions	131,101		-		131,101
	At 31 March 2025	611,946		9,492		621,438

	Depreciation
	At 1 April 2024	-		5,641		5,641
	Charge for the year	-		770		770
	At 31 March 2025	-		6,411		6,411

	Net book value
	At 31 March 2025	611,946		3,081		615,027
	At 31 March 2024	480,845		3,851		484,696


4	Debtors			2025		2024
£					£

	Trade debtors			-		2,978
	Ansari Finances Ltd			89,520		91,520
	Inn Homes Ltd			22,800		-
	Other debtors			34,000		34,000
				146,320		128,498


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			57,628		22,354
	Creditors less than 1 year - Net Wages			1,377		1,442
	Ansari Electronics			24,159		24,159
	IMK Retail Ltd			20,000		-
	Trade creditors			25,254		9,957
	Taxation and social security costs			1,082		181
	Director's account			178,213		57,735
				307,713		115,828


6	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			5,217		12,425
	Navneeta K			71,847		80,685
	S Vivek Anand			30,000		60,000
	Mortgage - Together			308,006		310,852
				415,070		463,962


7	Other information

	Phone Spot Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	171 Dalry Road
	Edinburgh
	Scotland
	EH11 2EB


8	Related party transactions

	Mr Imtiyaz Ansari owns 100% shares in Ansari Electronics Ltd in Note:5 and 50% in Ansari Finances Ltd in Note: 4 above.