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REGISTERED NUMBER: 12547971 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

PHOENIX COACHES (DURHAM) LTD

PHOENIX COACHES (DURHAM) LTD (REGISTERED NUMBER: 12547971)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHOENIX COACHES (DURHAM) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: K Turner
H M Hurst





REGISTERED OFFICE: Maven House
Frankland Lane
Durham
DH1 5TA





REGISTERED NUMBER: 12547971 (England and Wales)





ACCOUNTANTS: Ribchesters
Chartered Accountants
Finchale House
Belmont Business Park
Durham
DH1 1TW

PHOENIX COACHES (DURHAM) LTD (REGISTERED NUMBER: 12547971)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,761 48,452

CURRENT ASSETS
Debtors 5 19,396 11,219
Cash at bank 5,834 4,022
25,230 15,241
CREDITORS
Amounts falling due within one year 6 42,038 33,224
NET CURRENT LIABILITIES (16,808 ) (17,983 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,953

30,469

CREDITORS
Amounts falling due after more than one
year

7

10,123

18,222
NET ASSETS 11,830 12,247

CAPITAL AND RESERVES
Called up share capital 9 130 130
Retained earnings 11,700 12,117
SHAREHOLDERS' FUNDS 11,830 12,247

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

PHOENIX COACHES (DURHAM) LTD (REGISTERED NUMBER: 12547971)

BALANCE SHEET - continued
31 OCTOBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





K Turner - Director


PHOENIX COACHES (DURHAM) LTD (REGISTERED NUMBER: 12547971)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Phoenix Coaches (Durham) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

PHOENIX COACHES (DURHAM) LTD (REGISTERED NUMBER: 12547971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 November 2022
and 31 October 2023 66,995
DEPRECIATION
At 1 November 2022 18,543
Charge for year 9,691
At 31 October 2023 28,234
NET BOOK VALUE
At 31 October 2023 38,761
At 31 October 2022 48,452

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022
and 31 October 2023 35,995
DEPRECIATION
At 1 November 2022 5,399
Charge for year 6,119
At 31 October 2023 11,518
NET BOOK VALUE
At 31 October 2023 24,477
At 31 October 2022 30,596

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,428 -
Other debtors 11,968 11,219
19,396 11,219

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 8,099 8,099
Trade creditors 30,000 24,000
Taxation and social security 1 -
Other creditors 3,938 1,125
42,038 33,224

PHOENIX COACHES (DURHAM) LTD (REGISTERED NUMBER: 12547971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 10,123 18,222

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 18,222 26,321

9. CALLED UP SHARE CAPITAL

Allotted , issued and fully paid:
Number: Class: Nominal 2023 2022
value £ £
100 Ordinary £1 100 100
10 A £1 10 10
10 B £1 10 10
10 C £1 10 10
130 130

10. RELATED PARTY DISCLOSURES

During the year the company maintained an interest free loan to a company under common control. There are no formal terms for repayment of this loan, which is included in the financial statements under Other Debtors, within Debtors: Amounts falling due within on year. The balance outstanding on this loan at the year end was £7,564 (2022: £7,564).