REGISTERED NUMBER: 05733718 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

PHI NETWORKS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Hemus

Mrs M Hemus

SECRETARY:

Mrs M Hemus

REGISTERED OFFICE:

Aruna House

2 Kings Road

Haslemere

Surrey

GU27 2QA

REGISTERED NUMBER:

05733718 (England and Wales)

ACCOUNTANTS:

A & N (Haslemere) Limited

Aruna House

2 Kings Road

Haslemere

Surrey

GU27 2QA

FIXED ASSETS

Intangible assets

3

13,750

27,500

Tangible assets

4

7,337

8,669

21,087

36,169

CURRENT ASSETS

Debtors

5

3,950

16,418

Cash at bank

72,521

50,299

76,471

66,717

CREDITORS

Amounts falling due within one year

6

69,541

85,466

NET CURRENT ASSETS/(LIABILITIES)

6,930

(18,749

)

TOTAL ASSETS LESS CURRENT LIABILITIES

28,017

17,420

PROVISIONS FOR LIABILITIES

1,834

1,647

NET ASSETS

26,183

15,773

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

25,183

14,773

SHAREHOLDERS' FUNDS

26,183

15,773

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 directors acknowledge their 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 Board of Directors and authorised for issue on 26 November 2025 and were signed on its behalf by:

Mrs M Hemus - Director

1.	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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

275,000

AMORTISATION

At 1 April 2024

247,500

Amortisation for year

13,750

At 31 March 2025

261,250

NET BOOK VALUE

At 31 March 2025

13,750

At 31 March 2024

27,500

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

11,916

13,000

10,643

35,559

Additions

610

-

500

1,110

At 31 March 2025

12,526

13,000

11,143

36,669

DEPRECIATION

At 1 April 2024

10,015

7,516

9,359

26,890

Charge for year

626

1,371

445

2,442

At 31 March 2025

10,641

8,887

9,804

29,332

NET BOOK VALUE

At 31 March 2025

1,885

4,113

1,339

7,337

At 31 March 2024

1,901

5,484

1,284

8,669

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

2,686

16,175

Prepayments and accrued income

1,264

243

3,950

16,418

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

2,380

18,595

Tax

10,166

9,945

Social security and other taxes

218

381

VAT

8,560

12,144

Other creditors

822

2,209

Wages Payable

1,856

-

Directors' current accounts

44,424

41,192

Accrued expenses

1,115

1,000

69,541

85,466