Company No: 11755778 (England and Wales)

Contents

• Company Information
• Accountant's Report
• Statement of Financial Position
• Notes to the Unaudited Financial Statements

DIRECTOR	Nafeesah Nembhard
REGISTERED OFFICE	Emperor Way
	Exeter Business Park
	Exeter
	Devon
	EX1 3QS
	United Kingdom
COMPANY NUMBER	11755778(England and Wales)
CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	Century House
	Nicholson Road
	Torquay
	TQ2 7TD

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Phee The ODP Ltd for the financial period ended 31 March 2020 which comprises the Statement of Financial Position and the related notes 1 to 9 from the Company’s accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at _http://www.icaew.com/en/members/regulations-standards-and-guidance/_.

It is your duty to ensure that Phee The ODP Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Phee The ODP Ltd. You consider that Phee The ODP Ltd is exempt from the statutory audit requirement for the financial period.

We have not been instructed to carry out an audit or a review of the financial statements of Phee The ODP Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of Phee The ODP Ltd, as a body, in accordance with the terms of our engagement letter dated 07 July 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Phee The ODP Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phee The ODP Ltd and its Director as a body for our work or for this report.

Bishop Fleming LLP
Chartered Accountants

Century House
Nicholson Road
Torquay
TQ2 7TD

05 November 2020

		31.03.2020
	Note	£
Fixed assets
Tangible assets	3	297
		297
Current assets
Debtors	4	21,924
Cash at bank and in hand	5	569
		22,493
Creditors
Amounts falling due within one year	6	( 12,382)
Net current assets		10,111
Total assets less current liabilities		10,408
Creditors
Amounts falling due after more than one year		( 4,763)
Provisions for liabilities		( 56)
Net assets		5,589
Capital and reserves
Called-up share capital	8	1
Profit and loss account		5,588
Total shareholders' funds		5,589

For the financial period ending 31 March 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Phee The ODP Ltd (registered number: 11755778) were approved and authorised for issue by the Director on 05 November 2020. They were signed on its behalf by:

Nafeesah Nembhard Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period.

General information and basis of accounting

Phee The ODP Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Emperor Way, Exeter Business Park, Exeter, Devon, EX1 3QS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Phee The ODP Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has considered the impact of COVID-19 global pandemic in early 2020. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line,reducing balance] basis over its expected useful life, as follows:

Plant and machinery - 20% reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	Period from 08.01.2019 to 31.03.2020
	Number
Monthly average number of persons employed by the Company during the period, including the director	1

3. Tangible assets

	Plant and machinery	Total
	£	£
Cost/Valuation
At 08 January 2019	0	0
Additions	348	348
At 31 March 2020	348	348
Accumulated depreciation
At 08 January 2019	0	0
Charge for the financial period	51	51
At 31 March 2020	51	51
Net book value
At 31 March 2020	297	297

4. Debtors

	31.03.2020
	£
Trade debtors	384
Amounts owed by associates	576
Other debtors	20,964
	21,924

5. Cash and cash equivalents

	31.03.2020
	£
Cash at bank and in hand	569
	569

6. Creditors: amounts falling due within one year

	31.03.2020
	£
Other creditors	1,250
Corporation tax	11,132
	12,382

7. Deferred tax

	31.03.2020
	£
At the beginning of financial period	0
Charged to the Statement of Income and Retained Earnings	( 56)
At the end of financial period	( 56)

8. Called-up share capital and reserves

	31.03.2020
	£
Allotted, called-up and fully-paid
1 ordinary share of £ 1.00	1
	1

9. Related party transactions

Transactions with companies in which the entity itself has a participating interest

	31.03.2020
	£
Debtor owed by company under common control: Splint Kit Ltd	576

No interest is charged on this balance and there is no fixed date for repayment.

Transactions with the entity's directors

	07.01.2019
	£
Debtor owed by the director	20,876

Interest has been charged on this balance at 2.5% and there is no fixed date for repayment.