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REGISTERED NUMBER: 02608547 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Phoenix (Leicester) Limited

Phoenix (Leicester) Limited (Registered number: 02608547)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Phoenix (Leicester) Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: S G Blyth
Mrs S W Blyth
S Blyth
Mrs D J Quilter
R Walker





REGISTERED OFFICE: Phoenix House, Unit 16
Marlow Road Industrial Estate
Marlow Road
Leicester
Leicestershire
LE3 2BQ





REGISTERED NUMBER: 02608547 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Phoenix (Leicester) Limited (Registered number: 02608547)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 115,190 140,471

CURRENT ASSETS
Stocks 20,000 17,000
Debtors 5 337,977 404,627
Cash at bank and in hand 19,323 14,007
377,300 435,634
CREDITORS
Amounts falling due within one year 6 (344,455 ) (347,416 )
NET CURRENT ASSETS 32,845 88,218
TOTAL ASSETS LESS CURRENT
LIABILITIES

148,035

228,689

CREDITORS
Amounts falling due after more than one
year

7

(74,424

)

(95,172

)

PROVISIONS FOR LIABILITIES (7,423 ) (13,244 )
NET ASSETS 66,188 120,273

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 66,088 120,173
SHAREHOLDERS' FUNDS 66,188 120,273

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 (Leicester) Limited (Registered number: 02608547)

Balance Sheet - continued
31 August 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 16 January 2024 and were signed on its behalf by:





S Blyth - Director


Phoenix (Leicester) Limited (Registered number: 02608547)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Phoenix (Leicester) Limited 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowances for obsolete and slow moving items.

Cost is calculated using first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government Grants receivable in relation to expenditure is recognised when the expenditure is charged to the profit and loss.

Phoenix (Leicester) Limited (Registered number: 02608547)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under the 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 18 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 86,610 20,533 258,570 10,524 376,237
Additions 1,363 - 25,000 - 26,363
Disposals (37,932 ) (17,039 ) (24,101 ) - (79,072 )
At 31 August 2023 50,041 3,494 259,469 10,524 323,528
DEPRECIATION
At 1 September 2022 60,604 18,874 150,028 6,260 235,766
Charge for year 7,324 250 37,907 1,968 47,449
Eliminated on disposal (36,847 ) (16,664 ) (21,366 ) - (74,877 )
At 31 August 2023 31,081 2,460 166,569 8,228 208,338
NET BOOK VALUE
At 31 August 2023 18,960 1,034 92,900 2,296 115,190
At 31 August 2022 26,006 1,659 108,542 4,264 140,471

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 293,511 382,860
Other debtors 44,466 21,767
337,977 404,627

Included in other debtors are prepayments of £2,000 (2022: £2,263).

Phoenix (Leicester) Limited (Registered number: 02608547)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 107,941 87,931
Hire purchase contracts 22,456 23,134
Trade creditors 166,942 182,118
Taxation and social security 25,878 46,251
Other creditors 21,238 7,982
344,455 347,416

Included in other creditors are accruals of £14,644 (2022: £3,625).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 17,500 27,500
Hire purchase contracts 56,924 67,672
74,424 95,172

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Hire purchase contracts 79,380 90,806
Bank loans and overdrafts - 115,431
79,380 206,237

Hire purchase liabilities are secured on the individual assets being so acquired.
The bank account and bank loans are secured on all assets of the company.

9. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £8,485 (2022: 16,365).