Phronesis Limited - Accounts to registrar (filleted) - small 18.2

Phronesis Limited - Accounts to registrar (filleted) - small 18.2

PHRONESIS LIMITED - Company Information

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REGISTERED NUMBER: 03602272 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

PHRONESIS LIMITED
PHRONESIS LIMITED (REGISTERED NUMBER: 03602272)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PHRONESIS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2020







DIRECTORS: S Court
Mrs J Court





SECRETARY: Mrs J Court





REGISTERED OFFICE: 10 Lonsdale Gardens
Tunbridge Wells
Kent
TN1 1NU





BUSINESS ADDRESS: The Stables, Ashurst Place
Lampington Row
Langton Green
TUNBRIDGE WELLS
Kent
TN3 0JG





REGISTERED NUMBER: 03602272 (England and Wales)





ACCOUNTANTS: Wells Associates
10 Lonsdale Gardens
Tunbridge Wells
Kent
TN1 1NU
Page 1
PHRONESIS LIMITED (REGISTERED NUMBER: 03602272)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 - -
Investments 6 - 1
- 1

CURRENT ASSETS
Debtors 7 100,100 113
Cash at bank 79 674
100,179 787
CREDITORS
Amounts falling due within one year 8 840 673
NET CURRENT ASSETS 99,339 114
TOTAL ASSETS LESS CURRENT
LIABILITIES
99,339
115

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 99,239 15
SHAREHOLDERS' FUNDS 99,339 115

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 12 April 2021 and were signed on its behalf by:





Mrs J Court - Director


The notes form part of these financial statements

Page 2
PHRONESIS LIMITED (REGISTERED NUMBER: 03602272)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

1. STATUTORY INFORMATION

Phronesis Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten 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.
Computer equipment - 33.33% on cost

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2020 251,250
Disposals (251,250 )
At 31 December 2020 -
AMORTISATION
At 1 January 2020 251,250
Eliminated on disposal (251,250 )
At 31 December 2020 -
NET BOOK VALUE
At 31 December 2020 -
At 31 December 2019 -

Page 3 continued...
PHRONESIS LIMITED (REGISTERED NUMBER: 03602272)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020

5. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 January 2020 538
Disposals (538 )
At 31 December 2020 -
DEPRECIATION
At 1 January 2020 538
Eliminated on disposal (538 )
At 31 December 2020 -
NET BOOK VALUE
At 31 December 2020 -
At 31 December 2019 -

6. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 January 2020 1
Disposals (1 )
At 31 December 2020 -
NET BOOK VALUE
At 31 December 2020 -
At 31 December 2019 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 100,100 100
Directors' current accounts - 13
100,100 113

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Directors' current accounts 137 -
Accrued expenses 703 673
840 673

Page 4