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Registration number: 09545276

Phoenix Care & Education Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 26 April 2022

 

Phoenix Care & Education Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Phoenix Care & Education Ltd

Company Information

Directors

Mr Paul Rynberk

Mr Daren Roberts

Jake Hill

Registered office

22-24 Balfour Road
Bootle
Merseyside
L20 4NZ

Accountants

Bright Partnership LLP
26 Edward Court
Broadheath
Altrincham
WA14 5GL

 

Phoenix Care & Education Ltd

(Registration number: 09545276)
Balance Sheet as at 26 April 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

75,758

15,176

Current assets

 

Debtors

5

187,164

126,083

Cash at bank and in hand

 

119,753

139,430

 

306,917

265,513

Creditors: Amounts falling due within one year

6

(176,079)

(122,743)

Net current assets

 

130,838

142,770

Total assets less current liabilities

 

206,596

157,946

Creditors: Amounts falling due after more than one year

6

(69,865)

(50,000)

Provisions for liabilities

(6,132)

(2,883)

Net assets

 

130,599

105,063

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

130,499

104,963

Shareholders' funds

 

130,599

105,063

For the financial year ending 26 April 2022 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 year 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 5 September 2022 and signed on its behalf by:
 

.........................................
Mr Paul Rynberk
Director

 

Phoenix Care & Education Ltd

Notes to the Unaudited Financial Statements for the Year Ended 26 April 2022

1

General information

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

The address of its registered office is:
22-24 Balfour Road
Bootle
Merseyside
L20 4NZ

These financial statements were authorised for issue by the Board on 5 September 2022.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

These financial statements are presented in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Phoenix Care & Education Ltd

Notes to the Unaudited Financial Statements for the Year Ended 26 April 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% reducing balance

Office equipment

33% reducing balance

Leasehold improvements

20% straight line

Motor vehicle

25% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

 

Phoenix Care & Education Ltd

Notes to the Unaudited Financial Statements for the Year Ended 26 April 2022

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2021 - 11).

 

Phoenix Care & Education Ltd

Notes to the Unaudited Financial Statements for the Year Ended 26 April 2022

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 27 April 2021

31,171

2,255

702

-

Additions

-

8,934

657

64,129

At 26 April 2022

31,171

11,189

1,359

64,129

Depreciation

At 27 April 2021

16,762

1,583

607

-

Charge for the year

6,235

1,174

68

5,661

At 26 April 2022

22,997

2,757

675

5,661

Carrying amount

At 26 April 2022

8,174

8,432

684

58,468

At 26 April 2021

14,409

672

95

-

Total
£

Cost or valuation

At 27 April 2021

34,128

Additions

73,720

At 26 April 2022

107,848

Depreciation

At 27 April 2021

18,952

Charge for the year

13,138

At 26 April 2022

32,090

Carrying amount

At 26 April 2022

75,758

At 26 April 2021

15,176

5

Debtors

 

Phoenix Care & Education Ltd

Notes to the Unaudited Financial Statements for the Year Ended 26 April 2022

Current

2022
£

2021
£

Trade debtors

159,299

108,097

Prepayments

6,651

-

Other debtors

21,214

17,986

 

187,164

126,083

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Bank loans and overdrafts

24,014

-

trade creditors

 

1,008

-

Taxation and social security

 

17,061

21,607

Accruals and deferred income

 

1,967

1,225

Other creditors

 

132,029

99,911

 

176,079

122,743

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

69,865

50,000

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £5,455 (2021 - £25,455).