REGISTERED NUMBER: 01814992 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Phineas Group (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

DC Wright

SECRETARY:

Mrs L A Wright

REGISTERED OFFICE:

Monahans

6th Floor

Whitefriars

Lewins Mead

Bristol

BS1 2NT

REGISTERED NUMBER:

01814992 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

195,509

83,881

Investments

6

2,860

2,860

198,369

86,741

CURRENT ASSETS

Stocks

97,420

102,180

Debtors

7

1,341,828

1,661,882

Cash at bank and in hand

834,008

862,904

2,273,256

2,626,966

CREDITORS

Amounts falling due within one year

8

216,795

355,446

NET CURRENT ASSETS

2,056,461

2,271,520

TOTAL ASSETS LESS CURRENT LIABILITIES

2,254,830

2,358,261

PROVISIONS FOR LIABILITIES

21,537

2,563

NET ASSETS

2,233,293

2,355,698

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

2,232,993

2,355,398

SHAREHOLDERS' FUNDS

2,233,293

2,355,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2025 and were signed by:

DC Wright - Director

1.	STATUTORY INFORMATION

Phineas Group (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class

Depreciation method and rate

Leasehold improvements

Straight line over 6 years

Plant and Machinery

Straight line over 3 years

Fixtures and fittings

Straight line over 3 years or 25% reducing balance

Motor vehicles

Straight line over 5 years

Solar panels

Straight line over 15 or 20 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 April 2024

and 31 March 2025

44,155

AMORTISATION

At 1 April 2024

and 31 March 2025

44,155

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Leasehold

Solar

Plant and

improvements

Panels

machinery

£

£

£

COST

At 1 April 2024

37,602

104,194

789,052

Additions

-

-

132,497

At 31 March 2025

37,602

104,194

921,549

DEPRECIATION

At 1 April 2024

32,744

66,103

776,977

Charge for year

1,360

5,285

18,181

At 31 March 2025

34,104

71,388

795,158

NET BOOK VALUE

At 31 March 2025

3,498

32,806

126,391

At 31 March 2024

4,858

38,091

12,075

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2024

185,338

15,500

1,131,686

Additions

16,335

-

148,832

At 31 March 2025

201,673

15,500

1,280,518

DEPRECIATION

At 1 April 2024

160,098

11,883

1,047,805

Charge for year

9,278

3,100

37,204

At 31 March 2025

169,376

14,983

1,085,009

NET BOOK VALUE

At 31 March 2025

32,297

517

195,509

At 31 March 2024

25,240

3,617

83,881

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

2,860

NET BOOK VALUE

At 31 March 2025

2,860

At 31 March 2024

2,860

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

76,918

87,049

Amounts owed by group undertakings

494,866

806,869

Other debtors

162,125

163,427

Directors' current accounts

567,886

555,391

VAT

-

5,269

Prepayments and accrued income

40,033

43,877

1,341,828

1,661,882

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

98,929

40,951

Amounts owed to group undertakings

27,019

73,146

Tax

4,217

178,727

Social security and other taxes

691

1,600

VAT

11,067

-

Other creditors

179

-

Accruals and deferred income

74,693

61,022

216,795

355,446

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in debtors is £567,886 (2024: £555,391) owed to the company by Mr D Wright, a director of the company. Interest has been charged on this balance using the official HMRC rate.

10.	RELATED PARTY DISCLOSURES

During the year the company made the following related party transactions:

Phineas Products US LLC

(A company wholly owned by Phineas Group (UK) Limited)

At the year end £Nil was owed to Phineas Products US LLC by the company (2024: £73,146).

Phineas Group (International) Limited

(Parent company of Phineas Group (UK) Limited)

During the year the company was issued with purchase invoices to the value of £5,236 (2024: £74,122). At the year end £367,366 (2024: £576,968) was owed by the Phineas Group (International) Limited to the company.

Phineas Group (HK) Ltd

(A company in which DC Wright is a director)

During the year the company issued sales invoices to the value of £247,116 (2024: £919,065).

During the year the company was issued with purchase invoices to the value of £347,702 (2024: £366,820). At the year end £27,019 (2024: £73,567 creditor) was due to Phineas Group (HK) Ltd by the company.

Cancan Sharing Systems Ltd (Formerly Pizer and Wright Ltd)

(A company in which DC Wright is a director)

During the year the company was issued with purchase invoices to the value of £Nil (2024: £4,458).

At the year end £Nil (2024: £156,334) was due from Cancan Sharing Systems Ltd to the company.

Phineas Technology (Shenzhen) Co. Ltd

(A company in which DC Wright is a director)

During the year the company issued sales invoices to the value of £127,500 (2024: £Nil).