Phasic Ltd - Filleted accounts

Registered number

08138350

Phasic Ltd

Unaudited Filleted Accounts

29 December 2025

Phasic Ltd
Registered number:		08138350
Balance Sheet
as at 29 December 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		4,389			4,129

Current assets
Debtors	4	164,134			191,435
Cash at bank and in hand		2,164			13,245
		166,298			204,680

Creditors: amounts falling due within one year	5	(95,634)			(144,306)

Net current assets			70,664			60,374

Total assets less current liabilities			75,053			64,503

Creditors: amounts falling due after more than one year	6		-			(1,783)



Net assets			75,053			62,720

Capital and reserves
Called up share capital			100			100
Profit and loss account			74,953			62,620

Shareholders' funds			75,053			62,720

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 members have 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 P Harrison
Director
Approved by the board on 8 September 2026

Phasic Ltd
Notes to the Accounts
for the year ended 29 December 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:

	Fixtures, fittings, tools and equipment	25% reducing balance method
	Computer equipment	33% reducing balance method



	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.

	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		1		1


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 30 December 2024				26,504
	Additions				3,339
	Disposals				(8,679)
	At 29 December 2025				21,164

	Depreciation
	At 30 December 2024				22,375
	Charge for the year				2,018
	On disposals				(7,618)
	At 29 December 2025				16,775

	Net book value
	At 29 December 2025				4,389
	At 29 December 2024				4,129


4	Debtors		2025		2024
£				£

	Trade debtors		76,505		6,557
	Corporation tax recoverable assets		24,459		24,459
	Directors' loan accounts		63,096		156,358
	Other debtors		74		4,061
			164,134		191,435


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

	Bank loans and overdrafts		1,783		2,995
	Trade creditors		1,538		401
	Taxation and social security costs		78,786		138,178
	Other creditors		13,527		2,732
			95,634		144,306


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

	Bank loans		-		1,783


7	Directors Advances, Credits and Guarantees

	Included within Debtors is a loan to the directors. The balance at the year end was £63,408 (2024: £156,670). The above loan is unsecured and repayable on demand. Interest is charged at the official rate.


8	Other information

	Phasic Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	55 Long Street
	Belton
	Loughborough
	LE12 9TP