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REGISTERED NUMBER: 04853906 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30th September 2023

for

Phoenix Building Systems Limited

Phoenix Building Systems Limited (Registered number: 04853906)






Contents of the Financial Statements
for the year ended 30th September 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Phoenix Building Systems Limited

Company Information
for the year ended 30th September 2023







DIRECTORS: S A Taylor
M A Taylor
Mrs J Wilson



SECRETARY: Mrs J Wilson



REGISTERED OFFICE: Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



REGISTERED NUMBER: 04853906 (England and Wales)



ACCOUNTANTS: Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: Barclays Bank PLC
Leicester
Leicestershire
LE87 2BB

Phoenix Building Systems Limited (Registered number: 04853906)

Abridged Balance Sheet
30th September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 934,667 1,057,408

CURRENT ASSETS
Stocks 2,403,833 2,448,018
Debtors 2,160,197 1,738,218
Cash at bank and in hand 364,002 88,378
4,928,032 4,274,614
CREDITORS
Amounts falling due within one year 2,023,471 1,793,385
NET CURRENT ASSETS 2,904,561 2,481,229
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,839,228

3,538,637

CREDITORS
Amounts falling due after more than one year (504,029 ) (686,096 )

PROVISIONS FOR LIABILITIES (153,369 ) (201,110 )
NET ASSETS 3,181,830 2,651,431

CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Retained earnings 3,180,830 2,650,431
SHAREHOLDERS' FUNDS 3,181,830 2,651,431

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 Building Systems Limited (Registered number: 04853906)

Abridged Balance Sheet - continued
30th September 2023


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 Balance Sheet for the year ended 30th September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 19th April 2024 and were signed on its behalf by:




S A Taylor - Director M A Taylor - Director




Mrs J Wilson - Director


Phoenix Building Systems Limited (Registered number: 04853906)

Notes to the Financial Statements
for the year ended 30th September 2023

1. STATUTORY INFORMATION

Phoenix Building Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Land and buildings - 10% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance, 20% on cost and 10% on cost

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

Work in progress includes direct staff wage costs and a share of overhead costs and profits, appropriate to the stage of completion of the related projects.

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.


Phoenix Building Systems Limited (Registered number: 04853906)

Notes to the Financial Statements - continued
for the year ended 30th September 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2022 - 47 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st October 2022 1,637,058
Additions 82,707
Disposals (56,208 )
At 30th September 2023 1,663,557
DEPRECIATION
At 1st October 2022 579,650
Charge for year 173,544
Eliminated on disposal (24,304 )
At 30th September 2023 728,890
NET BOOK VALUE
At 30th September 2023 934,667
At 30th September 2022 1,057,408

Phoenix Building Systems Limited (Registered number: 04853906)

Notes to the Financial Statements - continued
for the year ended 30th September 2023

4. TANGIBLE FIXED ASSETS - continued

The net book value of tangible fixed assets includes £ 860,331 (2022 - £ 941,768 ) in respect of assets held under hire purchase contracts.

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 150,000
Hire purchase contracts 622,736 706,879
Factoring account 211,461 -
834,197 856,879

Hire purchase and finance lease obligations are secured on the fixed assets to which they relate.
The factoring account is secured by way of a fixed and floating charge over the assets of the company.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Phoenix Building Systems Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Phoenix Building Systems Limited for the year ended 30th September 2023 which comprise the Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Phoenix Building Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Phoenix Building Systems Limited and state those matters that we have agreed to state to the Board of Directors of Phoenix Building Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phoenix Building Systems Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Phoenix Building Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Phoenix Building Systems Limited. You consider that Phoenix Building Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Phoenix Building Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX


19th April 2024