The present invention relates to phosphorylated polyphenols, preferably tannins that, unlike their unphosphorylated counterparts, do not suffer from relatively low stability, resulting in an activity that is relatively short in time, and/or that do not result in yellowing of materials therewith such as textiles or polymers. The present invention further relates to a simple, cheap and environmentally friendly way of preparing these compounds. The phosphorylation process of the invention can be extended to simple phenolic compounds as well, as long as these have at least one accessible hydroxyl group. The phosphorylated compounds according to the invention can be used as antioxidants, as radical scavengers, as complexating agents for metals and proteins, as antibacterials or antiallergenic compounds, and as agents to flock textile.