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REGISTERED NUMBER: 12022692 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Phenix Enterprises Limited

Phenix Enterprises Limited (Registered number: 12022692)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Phenix Enterprises Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: P Chavda
Mrs G Chavda





REGISTERED OFFICE: 26 Offord Grove
Leavesden
Watford
Hertfordshire
WD25 7NE





REGISTERED NUMBER: 12022692 (England and Wales)






Phenix Enterprises Limited (Registered number: 12022692)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 145 290
Investment property 5 520,000 525,000
520,145 525,290

CURRENT ASSETS
Cash at bank 21,755 13,639

CREDITORS
Amounts falling due within one year 6 1,510 1,358
NET CURRENT ASSETS 20,245 12,281
TOTAL ASSETS LESS CURRENT
LIABILITIES

540,390

537,571

CREDITORS
Amounts falling due after more than one
year

7

(506,584

)

(499,796

)

PROVISIONS FOR LIABILITIES 10 (7,121 ) (8,071 )
NET ASSETS 26,685 29,704

CAPITAL AND RESERVES
Called up share capital 11 100 100
Undistributable Reserve 12 30,362 34,412
Retained earnings 12 (3,777 ) (4,808 )
SHAREHOLDERS' FUNDS 26,685 29,704

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





P Chavda - Director


Phenix Enterprises Limited (Registered number: 12022692)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Phenix Enterprises 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

3. EMPLOYEES AND DIRECTORS

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

Phenix Enterprises Limited (Registered number: 12022692)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2022
and 30 June 2023 580
DEPRECIATION
At 1 July 2022 290
Charge for year 145
At 30 June 2023 435
NET BOOK VALUE
At 30 June 2023 145
At 30 June 2022 290

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 525,000
Revaluations (5,000 )
At 30 June 2023 520,000
NET BOOK VALUE
At 30 June 2023 520,000
At 30 June 2022 525,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2021 32,583
Valuation in 2023 9,900
Valuation in 2024 (5,000 )
Cost 482,517
520,000

If the investment properties had not been revalued they would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 482,517 482,517

The investment properties were valued on an informal basis on 8 February 2024 by two local firms of Estate Agents .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other creditors 1,510 1,358

Phenix Enterprises Limited (Registered number: 12022692)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans (see note 8) 334,322 332,534
Other creditors 172,262 167,262
506,584 499,796

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 334,322 332,534
Shareholders Loans 172,262 167,262
506,584 499,796

8. LOANS

An analysis of the maturity of loans is given below:

30.6.23 30.6.22
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 334,322 332,534
Shareholders Loans 172,262 167,262
506,584 499,796

9. SECURED DEBTS

The building society mortgages are secured by a first charge over the legal and beneficial interests in the Investment Properties.

10. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax
Other timing differences 7,121 8,071

Deferred
tax
£   
Balance at 1 July 2022 8,071
Credit to Income Statement during year (950 )
Balance at 30 June 2023 7,121

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100

Phenix Enterprises Limited (Registered number: 12022692)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

12. RESERVES
Retained Undistributable
earnings Reserve Totals
£    £    £   

At 1 July 2022 (4,808 ) 34,412 29,604
Deficit for the year (3,019 ) (3,019 )
Profit & Loss Account Transfer
to Undistributable Reserve 4,050 (4,050 ) -
At 30 June 2023 (3,777 ) 30,362 26,585

The Undistributable Reserve is stated after deducting provision for deferred tax.