Company registration number 10754279 (England and Wales)
RELATIVE PHASE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
RELATIVE PHASE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
RELATIVE PHASE LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RELATIVE PHASE LIMITED FOR THE YEAR ENDED 31 MAY 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Relative Phase Limited for the year ended 31 May 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of Relative Phase Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Relative Phase Limited and state those matters that we have agreed to state to the b oard of d irectors of Relative Phase Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Relative Phase Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Relative Phase Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Relative Phase Limited. You consider that Relative Phase Limited 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 financial statements of Relative Phase Limited. 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 f inancial statements.

Carpenter Box
6 January 2026
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
RELATIVE PHASE LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,458
38,032
Investments
4
543,880
366,756
548,338
404,788
Current assets
Debtors
5
599
26,742
Cash at bank and in hand
35,421
64,127
36,020
90,869
Creditors: amounts falling due within one year
6
(155,598)
(262,058)
Net current liabilities
(119,578)
(171,189)
Net assets
428,760
233,599
Capital and reserves
Called up share capital
7
-
0
-
0
Profit and loss reserves
428,760
233,599
Total equity
428,760
233,599

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 6 January 2026 and are signed on its behalf by:
Mr P A Heywood
Director
Company registration number 10754279 (England and Wales)
RELATIVE PHASE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
1
Accounting policies
Company information

Relative Phase Limited is a private company limited by shares incorporated in England and Wales. The registered office is Relf House, Rockshaw Road, Merstham, Surrey, RH1 3BZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements for the year ended 31 May 2025 are the first financial statements of Relative Phase Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 June 2023. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has considered relevant information, including the company’s principal risks and uncertainties, and the impact of subsequent events in making their assessment. true

At the balance sheet date the company is in a net current liabilities position. The company is reliant on the ongoing support of its director and is meeting its liabilities as they fall due. The financial statements do not include any adjustments that would result in the withdrawal of their support.

Based on these assessments and having regard to the resources available to the entity, the director has concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
3 years straight line basis
Motor vehicles
4 years straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

RELATIVE PHASE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.6
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 current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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.

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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

RELATIVE PHASE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 5 -
1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2024 - 2).

3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 June 2024
28,689
74,975
103,664
Additions
399
-
0
399
Disposals
-
0
(74,975)
(74,975)
At 31 May 2025
29,088
-
0
29,088
Depreciation and impairment
At 1 June 2024
19,981
45,651
65,632
Depreciation charged in the year
4,649
-
0
4,649
Eliminated in respect of disposals
-
0
(45,651)
(45,651)
At 31 May 2025
24,630
-
0
24,630
Carrying amount
At 31 May 2025
4,458
-
0
4,458
At 31 May 2024
8,708
29,324
38,032
4
Fixed asset investments
2025
2024
£
£
Other investments other than loans
543,880
366,756
RELATIVE PHASE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 June 2024
366,756
Additions
177,124
At 31 May 2025
543,880
Carrying amount
At 31 May 2025
543,880
At 31 May 2024
366,756
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
25,002
Other debtors
599
1,740
599
26,742
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
0
1,232
Taxation and social security
139,086
87,204
Other creditors
16,512
173,622
155,598
262,058
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 0.01p each
5
5
-
0
-
0
Ordinary B shares of 0.01p each
5
5
-
0
-
0
10
10
-
0
-
0
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