IRIS Accounts Production v22.1.4.3 08823378 Board of Directors 1.1.21 31.12.21 31.12.21 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure088233782020-12-31088233782021-12-31088233782021-01-012021-12-31088233782019-12-31088233782020-01-012020-12-31088233782020-12-3108823378ns16:EnglandWales2021-01-012021-12-3108823378ns15:PoundSterling2021-01-012021-12-3108823378ns11:Director12021-01-012021-12-3108823378ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3108823378ns11:SmallEntities2021-01-012021-12-3108823378ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3108823378ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3108823378ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3108823378ns11:AbridgedAccounts2021-01-012021-12-3108823378ns11:Director22021-01-012021-12-3108823378ns11:RegisteredOffice2021-01-012021-12-3108823378ns6:CurrentFinancialInstruments2021-12-3108823378ns6:CurrentFinancialInstruments2020-12-3108823378ns6:Non-currentFinancialInstruments2021-12-3108823378ns6:Non-currentFinancialInstruments2020-12-3108823378ns6:ShareCapital2021-12-3108823378ns6:ShareCapital2020-12-3108823378ns6:FurtherSpecificReserve1ComponentTotalEquity2021-12-3108823378ns6:FurtherSpecificReserve1ComponentTotalEquity2020-12-3108823378ns6:RetainedEarningsAccumulatedLosses2021-12-3108823378ns6:RetainedEarningsAccumulatedLosses2020-12-3108823378ns6:PlantMachinery2021-01-012021-12-3108823378ns6:FurnitureFittings2021-01-012021-12-3108823378ns6:ComputerEquipment2021-01-012021-12-31088233782ns11:Director22020-12-31088233782ns11:Director22019-12-31088233782ns11:Director22021-01-012021-12-31088233782ns11:Director22020-01-012020-12-31088233782ns11:Director22021-12-31088233782ns11:Director22020-12-31
REGISTERED NUMBER: 08823378 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

FENIX ASSOCIATES LIMITED

FENIX ASSOCIATES LIMITED (REGISTERED NUMBER: 08823378)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FENIX ASSOCIATES LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2021







DIRECTORS: Ms D Poggiagliolmi
Mr G Paggetti





REGISTERED OFFICE: 30 Binley Road
Coventry
West Midlands
CV3 1JA





REGISTERED NUMBER: 08823378 (England and Wales)





ACCOUNTANTS: Thomas & Co
Chartered Certified Accountants
30 Binley Road
Coventry
West Midlands
CV3 1JA

FENIX ASSOCIATES LIMITED (REGISTERED NUMBER: 08823378)

ABRIDGED BALANCE SHEET
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 1,704 2,281
Investment property 4 183,500 173,000
185,204 175,281

CURRENT ASSETS
Stocks 508 844
Debtors 539 5,474
Cash at bank 53,633 39,064
54,680 45,382
CREDITORS
Amounts falling due within one year 144,937 157,988
NET CURRENT LIABILITIES (90,257 ) (112,606 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

94,947

62,675

CREDITORS
Amounts falling due after more than one
year

42,848

42,400
NET ASSETS 52,099 20,275

CAPITAL AND RESERVES
Called up share capital 1 1
Investment revaluation reserve 40,489 33,632
Retained earnings 11,609 (13,358 )
SHAREHOLDERS' FUNDS 52,099 20,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

FENIX ASSOCIATES LIMITED (REGISTERED NUMBER: 08823378)

ABRIDGED BALANCE SHEET - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 5 September 2022 and were signed on its behalf by:





Ms D Poggiagliolmi - Director


FENIX ASSOCIATES LIMITED (REGISTERED NUMBER: 08823378)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021

1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises rental income and revenue derived from general building maintenance work, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tools & equipment - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

FENIX ASSOCIATES LIMITED (REGISTERED NUMBER: 08823378)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

3. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021 7,632
Additions 393
At 31 December 2021 8,025
DEPRECIATION
At 1 January 2021 5,351
Charge for year 970
At 31 December 2021 6,321
NET BOOK VALUE
At 31 December 2021 1,704
At 31 December 2020 2,281

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 173,000
Additions 3,643
Revaluations 6,857
At 31 December 2021 183,500
NET BOOK VALUE
At 31 December 2021 183,500
At 31 December 2020 173,000

Fair value at 31 December 2021 is represented by:
£   
Valuation in 2015 138,575
Valuation in 2018 25,425
Valuation in 2019 9,000
Valuation in 2021 10,500
183,500

FENIX ASSOCIATES LIMITED (REGISTERED NUMBER: 08823378)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21 31.12.20
£    £   
Mr G Paggetti
Balance outstanding at start of year - 244
Amounts repaid - (244 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

6. RELATED PARTY DISCLOSURES

Ms D Poggiagliolmi has loaned £32,500 to the company. £20,000 of this loan attracts annual interest at a rate of 2% and is repayable on 31/12/2022. Interest of £448 has been charged to the company during the year and added to the loan balance owed to Ms D Poggiagliolmi.

The remaining £12,500 is due repayable at a future date after 31/12/21 and no interest is charged on this loan amount.

Fenix Associates Limited has invoiced Ms D Poggiagliolmi £2,470 for property maintenance work carried out on her personal property.