Phundex UK Ltd - Period Ending 2020-12-31

Phundex UK Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 4

Phundex UK Ltd

(Registration number: 12207772)
Balance Sheet as at 31 December 2020

	Note	2020 £
Current assets
Cash at bank and in hand		100
Creditors: Amounts falling due within one year		(3,533)
Net liabilities		(3,433)
Capital and reserves
Called up share capital	5	100
Profit and loss account		(3,533)
Shareholders' deficit		(3,433)

For the financial period ending 31 December 2020 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 accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 8 June 2021 and signed on its behalf by:
 

.........................................

Raya Lynn Hubbell
Director

Phundex UK Ltd

Notes to the Unaudited Financial Statements for the Period from 16 September 2019 to 31 December 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fairfield
68 Summers Road
Godalming
Surrey
GU7 3BE
United Kingdom

These financial statements were authorised for issue by the Board on 8 June 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company benefits from the ongoing support of its parent and so the financial statements have been prepared on a going concern basis.

Development costs

Costs relating to research are written off in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Phundex UK Ltd

Notes to the Unaudited Financial Statements for the Period from 16 September 2019 to 31 December 2020

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0.

Phundex UK Ltd

Notes to the Unaudited Financial Statements for the Period from 16 September 2019 to 31 December 2020

4

Creditors

Creditors: amounts falling due within one year

	2020 £
Due within one year
Accruals and deferred income	500
Other creditors	3,033
	3,533

5	Share capital

Allotted, called up and fully paid shares

	2020
	No.	£
Ordinary shares of £1 each	100	100

6	Parent and ultimate parent undertaking

The company's immediate parent is Phundex Ltd, incorporated in Jersey.