Phylum Forge Ltd 31/03/2025 iXBRL

Company registration number: SC095153

Phylum Forge Ltd

Unaudited abridged financial statements

31 March 2025

Phylum Forge Ltd

Contents

Directors and other information

Directors report

Abridged statement of comprehensive income

Abridged statement of financial position

Statement of changes in equity

Notes to the financial statements

Phylum Forge Ltd

Directors and other information


	Directors	S J F Dessain
		P A Brown
		C Timms


	Company number	SC095153


	Registered office	11/2 Tweeddale Court
		14 High Street
		Edinburgh
		EH1 1TE


	Business address	11/2 Tweeddale Court
		14 High Street
		Edinburgh
		EH1 1TE

Phylum Forge Ltd

Directors report

Year ended 31 March 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2025.

Directors

The directors who served the company during the year were as follows:


S J F Dessain
P A Brown
C Timms

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 25 July 2025 and signed on behalf of the board by:

S J F Dessain

Director

Phylum Forge Ltd

Abridged statement of comprehensive income

Year ended 31 March 2025

		2025	2024
	Note	£	£

Gross profit		355,854	352,530

Administrative expenses		( 368,797)	( 346,023)
		_______	_______
Operating (loss)/profit		( 12,943)	6,507

Interest payable and similar expenses		( 6,908)	( 23,405)
		_______	_______
Loss before taxation	5	( 19,851)	( 16,898)

Tax on loss		-	23,115
		_______	_______
(Loss)/profit for the financial year and total comprehensive income		( 19,851)	6,217
		_______	_______

All the activities of the company are from continuing operations.

Phylum Forge Ltd

Abridged statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	6	120,000		120,431
Tangible assets	7	16,076		17,824
		_______		_______
			136,076		138,255

Current assets
Debtors		118,088		108,422
Cash at bank and in hand		18,033		27,159
		_______		_______
		136,121		135,581
Creditors: amounts falling due
within one year		( 174,913)		( 137,583)
		_______		_______
Net current liabilities			( 38,792)		( 2,002)
			_______		_______
Total assets less current liabilities			97,284		136,253

Creditors: amounts falling due
after more than one year			( 338,869)		( 357,987)
			_______		_______
Net liabilities			( 241,585)		( 221,734)
			_______		_______

Capital and reserves
Called up share capital			265,313		265,313
Share premium account			1,171,080		1,171,080
Other reserves			21,603		21,603
Profit and loss account			( 1,699,581)		( 1,679,730)
			_______		_______
Shareholders deficit			( 241,585)		( 221,734)
			_______		_______

For the year ending 31 March 2025 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 year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 25 July 2025 , and are signed on behalf of the board by:

S J F Dessain

Director

Company registration number: SC095153

Phylum Forge Ltd

Statement of changes in equity

Year ended 31 March 2025

	Called up share capital	Share premium account	Capital redemption reserve	Profit and loss account	Total
	£	£	£	£	£


At 1 April 2023	265,313	1,171,080	21,603	( 1,685,947)	( 227,951)

(Loss)/profit for the year				6,217	6,217
	_______	_______	_______	_______	_______
Total comprehensive income for the year	-	-	-	6,217	6,217

	_______	_______	_______	_______	_______
At 31 March 2024 and 1 April 2024	265,313	1,171,080	21,603	( 1,679,730)	( 221,734)

(Loss)/profit for the year				( 19,851)	( 19,851)
	_______	_______	_______	_______	_______
Total comprehensive income for the year	-	-	-	( 19,851)	( 19,851)

	_______	_______	_______	_______	_______
At 31 March 2025	265,313	1,171,080	21,603	( 1,699,581)	( 241,585)
	_______	_______	_______	_______	_______

Phylum Forge Ltd

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 11/2 Tweeddale Court, 14 High Street, Edinburgh, EH1 1TE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2024: 11 ).

5. Loss before taxation

Loss before taxation is stated after charging/(crediting):

	2025	2024
	£	£
Amortisation of intangible assets	60,431	60,455
Depreciation of tangible assets	1,748	1,980
	_______	_______

6. Intangible assets


		£
	Cost
	At 1 April 2024	956,200
	Additions	60,000
		_______
	At 31 March 2025	1,016,200
		_______
	Amortisation
	At 1 April 2024	835,769
	Charge for the year	60,431
		_______
	At 31 March 2025	896,200
		_______
	Carrying amount
	At 31 March 2025	120,000
		_______
	At 31 March 2024	120,431
		_______

7. Tangible assets


		£
	Cost
	At 1 April 2024 and 31 March 2025	373,639
		_______
	Depreciation
	At 1 April 2024	355,815
	Charge for the year	1,748
		_______
	At 31 March 2025	357,563
		_______
	Carrying amount
	At 31 March 2025	16,076
		_______
	At 31 March 2024	17,824
		_______