Company Registration No. SC657375 (Scotland)
PHASE PROJECTS LTD
Unaudited accounts
for the year ended 31 March 2023
PHASE PROJECTS LTD
Unaudited accounts
Contents
PHASE PROJECTS LTD
Company Information
for the year ended 31 March 2023
Directors
Christopher John Reid
Company Number
SC657375 (Scotland)
Registered Office
88 MORNINGSIDE AVENUE
ABERDEEN
AB10 7LT
SCOTLAND
Accountants
Aberdeen Accountants
3 Scotsmill Gardens
Blackburn
Aberdeenshire
AB21 0GA
PHASE PROJECTS LTD
Statement of financial position
as at 31 March 2023
Tangible assets
91,997
71,468
Cash at bank and in hand
30,880
22,958
Creditors: amounts falling due within one year
(161,269)
(149,074)
Net current assets/(liabilities)
33,342
(23,490)
Total assets less current liabilities
125,339
47,978
Creditors: amounts falling due after more than one year
(7,328)
-
Called up share capital
1
1
Profit and loss account
118,010
47,977
Shareholders' funds
118,011
47,978
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 December 2023 and were signed on its behalf by
Christopher John Reid
Director
Company Registration No. SC657375
PHASE PROJECTS LTD
Notes to the Accounts
for the year ended 31 March 2023
PHASE PROJECTS LTD is a private company, limited by shares, registered in Scotland, registration number SC657375. The registered office is 88 MORNINGSIDE AVENUE, ABERDEEN, AB10 7LT, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2022
93,276
-
93,276
Additions
26,225
23,851
50,076
At 31 March 2023
119,501
23,851
143,352
At 1 April 2022
21,808
-
21,808
Charge for the year
26,487
3,060
29,547
At 31 March 2023
48,295
3,060
51,355
At 31 March 2023
71,206
20,791
91,997
At 31 March 2022
71,468
-
71,468
PHASE PROJECTS LTD
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Trade debtors
156,647
102,625
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
8,460
-
Trade creditors
84,510
124,437
Taxes and social security
17,698
340
Loans from directors
50,601
6,970
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
7,328
-
8
Average number of employees
During the year the average number of employees was 3 (2022: 2).