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Company Registration No. 11998394 (England and Wales)
Fhenix Ltd Unaudited accounts for the year ended 31 December 2022
Fhenix Ltd Unaudited accounts Contents
Page
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Fhenix Ltd Company Information for the year ended 31 December 2022
Directors
Rory Keaveny Joseph Keaveny
Company Number
11998394 (England and Wales)
Registered Office
124 City Road London EC1V 2NX
Accountants
Cloudkeepers London Ltd 124 City Road London EC1V 2NX
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Fhenix Ltd Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,612,423 
996,273 
Current assets
Debtors
360,188 
130,792 
Cash at bank and in hand
175,534 
243,309 
535,722 
374,101 
Creditors: amounts falling due within one year
(1,334,466)
(859,493)
Net current liabilities
(798,744)
(485,392)
Total assets less current liabilities
813,679 
510,881 
Creditors: amounts falling due after more than one year
(1,073,588)
(875,403)
Net liabilities
(259,909)
(364,522)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(260,009)
(364,622)
Shareholders' funds
(259,909)
(364,522)
For the year ending 31 December 2022 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 5 February 2024 and were signed on its behalf by
Rory Keaveny Director Company Registration No. 11998394
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Fhenix Ltd Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Fhenix Ltd is a private company, limited by shares, registered in England and Wales, registration number 11998394. The registered office is 124 City Road, London, EC1V 2NX.
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
These financial statements for the year ended 31 December 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2021. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
The financial statements have been prepared on a going concern basis, notwithstanding the net asset deficiency, on the basis that the company will be supported financially by the shareholder to enable the company to meet its financial liabilities as they fall due.
Foreign exchange
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
10% straight line
Fixtures & fittings
10% straight line
Computer equipment
33% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Presentation currency
The accounts are presented in £ sterling.
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Fhenix Ltd Notes to the Accounts for the year ended 31 December 2022
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2022
411,713 
679,154 
1,413 
1,092,280 
Additions
395,336 
360,063 
11,508 
766,907 
At 31 December 2022
807,049 
1,039,217 
12,921 
1,859,187 
Depreciation
At 1 January 2022
22,484 
72,764 
759 
96,007 
Charge for the year
54,771 
93,642 
2,344 
150,757 
At 31 December 2022
77,255 
166,406 
3,103 
246,764 
Net book value
At 31 December 2022
729,794 
872,811 
9,818 
1,612,423 
At 31 December 2021
389,229 
606,390 
654 
996,273 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,007 
109 
Accrued income and prepayments
72,807 
17,733 
Other debtors
282,374 
112,950 
360,188 
130,792 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
VAT
167,392 
45,162 
Trade creditors
382,796 
185,996 
Taxes and social security
56,865 
59,653 
Other creditors
6,999 
9,606 
Accruals
31,360 
- 
Deferred income
689,054 
559,076 
1,334,466 
859,493 
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Fhenix Ltd Notes to the Accounts for the year ended 31 December 2022
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
34,027 
44,676 
Obligations under finance leases and hire purchase contracts
400,967 
188,560 
Loans from directors
450,090 
425,829 
Accruals
188,504 
216,338 
1,073,588 
875,403 
8
Transactions with related parties
Summary of transactions with other related parties At the year end, the balance due to the shareholder was £449,989.64. The loan was interest free.
9
Average number of employees
During the year the average number of employees was 38 (2021: 25).
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