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Registered number: 15657730 PHRONESIS IP LTD UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD FROM 18 APRIL 2024 TO 30 APRIL 2025
PHRONESIS IP LTD
CONTENTS
| Page
Balance sheet | 1
Notes to the financial statements | 2 - 4
PHRONESIS IP LTD REGISTERED NUMBER:15657730
BALANCE SHEET AS AT 30 APRIL 2025
|  | 2025
Note |  | £
Current assets |  |  |
Debtors: amounts falling due within one year | 4 | 7,919 |
Cash at bank and in hand | 5 | 167,675 |
|  | 175,594 |
Creditors: amounts falling due within one year | 6 | (91,896) |
Net current assets |  |  | 83,698
Total assets less current liabilities |  |  | 83,698
Net assets |  |  | 83,698
Capital and reserves |  |  |
Called up share capital | 7 |  | 200
Profit and loss account |  |  | 83,498
|  |  | 83,698
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
C M Donegan
Director
Date: 18 January 2026
The notes on pages 2 to 4 form part of these financial statements. 1
PHRONESIS IP LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
1. | General information
Phronesis IP Ltd is a private company, limited by shares, registered in England and Wales, registration number 15657730. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. The principal activity of the company is providing management consultancy services. The company was incorporated on 18 April 2024 and commenced trading on 1 May 2024. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is pound sterling. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
| 2.3 | Turnover
Turnover comprises of revenue recognised by the company in respect of providing consultancy services during the period and is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method. 2
PHRONESIS IP LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.5 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
| 2.6 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.7 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.8 | Creditors
Short-term creditors are measured at the transaction price.
| 2.9 | Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from other third parties and loans to related parties.
3. | Employees
| The average monthly number of employees, including directors, during the period was 2.
4. | Debtors
|  |  |  |  | 2025
|  |  |  |  | £
| Other debtors | 7,519
| Prepayments | 400
|  | 7,919
5. | Cash
|  |  |  |  | 2025
|  |  |  |  | £
| Cash at bank | 167,675
3
PHRONESIS IP LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025
|  |  |  |  | £
| Amounts owed to related parties | 43,200
| Corporation tax | 27,761
| Accruals | 20,935
|  | 91,896
7. | Share capital
|  |  |  |  | 2025
|  |  |  |  | £
|  | Allotted, called up and fully paid |
|  | 100 Ordinary A shares of £1.00 each | 100
|  | 100 Ordinary B shares of £1.00 each | 100
|  |  | 200
On incorporation, the company issued 100 Ordinary A subscriber shares and 100 Ordinary B subscriber shares of £1 each.
8. | Related party transactions
| Included within creditors at the balance sheet date is an amount of £43,200 owed to a company under common control. The loan is interest free and repayable on demand.
4