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Company Registration No. 05413728 (England and Wales)
Phoenix Precision Engineering Limited Unaudited accounts for the year ended 31 March 2023
Phoenix Precision Engineering Limited Unaudited accounts Contents
Page
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Phoenix Precision Engineering Limited Company Information for the year ended 31 March 2023
Directors
Mark Barry Dennaford Paul John Fallon
Company Number
05413728 (England and Wales)
Registered Office
13 PEVEREL DRIVE GRANBY BLETCHLEY MILTON KEYNES BUCKS MK1 1NL
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Phoenix Precision Engineering Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
6,000 
12,000 
Tangible assets
1,047 
1,396 
7,047 
13,396 
Current assets
Debtors
13,279 
35,519 
Cash at bank and in hand
7,079 
61,263 
20,358 
96,782 
Creditors: amounts falling due within one year
(19,511)
(36,026)
Net current assets
847 
60,756 
Total assets less current liabilities
7,894 
74,152 
Provisions for liabilities
Deferred tax
- 
(154)
Net assets
7,894 
73,998 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
7,892 
73,996 
Shareholders' funds
7,894 
73,998 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by
Paul John Fallon Director Company Registration No. 05413728
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Phoenix Precision Engineering Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Phoenix Precision Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 05413728. The registered office is 13 PEVEREL DRIVE, GRANBY BLETCHLEY, MILTON KEYNES, BUCKS, MK1 1NL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at historical cost less depreciation and impairment. Historical cost includes expenditure that is directly attributable to bring the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. on a reducing balance basis.
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing ballance
Intangible fixed assets
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to the initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis over its useful economic life.
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Phoenix Precision Engineering Limited Notes to the Accounts for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
60,000 
At 31 March 2023
60,000 
Amortisation
At 1 April 2022
48,000 
Charge for the year
6,000 
At 31 March 2023
54,000 
Net book value
At 31 March 2023
6,000 
At 31 March 2022
12,000 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
40,837 
3,250 
1,229 
45,316 
At 31 March 2023
40,837 
3,250 
1,229 
45,316 
Depreciation
At 1 April 2022
40,084 
3,167 
669 
43,920 
Charge for the year
188 
21 
140 
349 
At 31 March 2023
40,272 
3,188 
809 
44,269 
Net book value
At 31 March 2023
565 
62 
420 
1,047 
At 31 March 2022
753 
83 
560 
1,396 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
136 
- 
Trade debtors
7,848 
30,269 
Accrued income and prepayments
4,937 
3,965 
Other debtors
358 
1,285 
13,279 
35,519 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
10,276 
10,449 
Taxes and social security
6,077 
24,752 
Other creditors
1,841 
603 
Accruals
1,317 
222 
19,511 
36,026 
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Phoenix Precision Engineering Limited Notes to the Accounts for the year ended 31 March 2023
8
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
14,241 
24,883 
Later than one year and not later than five years
- 
12,481 
14,241 
37,364 
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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