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REGISTERED NUMBER: 02977048 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

Phoenix (316) Limited

Phoenix (316) Limited (Registered number: 02977048)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Phoenix (316) Limited

COMPANY INFORMATION
for the year ended 31 October 2023







Directors: J S D King
Ms M L Treeby





Secretary: J P D King





Registered office: Queen Anne Works
Queen Annes Battery
Coxside
Plymouth
Devon
PL4 0LT





Registered number: 02977048 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Phoenix (316) Limited (Registered number: 02977048)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 22,972 30,436

Current assets
Stocks 10,543 11,544
Debtors 5 141,969 101,172
Cash at bank and in hand 78,906 212,858
231,418 325,574
Creditors
Amounts falling due within one year 6 94,976 116,529
Net current assets 136,442 209,045
Total assets less current liabilities 159,414 239,481

Provisions for liabilities 7 6,100 5,800
Net assets 153,314 233,681

Capital and reserves
Called up share capital 8 1,000 1,000
Retained earnings 152,314 232,681
Shareholders' funds 153,314 233,681

Phoenix (316) Limited (Registered number: 02977048)

BALANCE SHEET - continued
31 October 2023


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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





J S D King - Director


Phoenix (316) Limited (Registered number: 02977048)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Phoenix (316) 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 recognised at the point of invoicing as adjusted for the value of any work in progress. The amount recognised excludes 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 machinery25% on reducing balance
Office equipment25% on reducing balance
Motor vehicles25% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 (316) Limited (Registered number: 02977048)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 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.

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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

Phoenix (316) Limited (Registered number: 02977048)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
Cost
At 1 November 2022 117,902 11,552 34,055 163,509
Additions 3,670 - - 3,670
Disposals (24,556 ) (4,529 ) - (29,085 )
At 31 October 2023 97,016 7,023 34,055 138,094
Depreciation
At 1 November 2022 91,191 9,744 32,138 133,073
Charge for year 2,142 271 479 2,892
Eliminated on disposal (16,699 ) (4,144 ) - (20,843 )
At 31 October 2023 76,634 5,871 32,617 115,122
Net book value
At 31 October 2023 20,382 1,152 1,438 22,972
At 31 October 2022 26,711 1,808 1,917 30,436

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 101,862 83,865
Other debtors 40,107 17,307
141,969 101,172

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 31,669 25,194
Taxation and social security 56,801 59,363
Other creditors 6,506 31,972
94,976 116,529

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,100 5,800

Phoenix (316) Limited (Registered number: 02977048)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2022 5,800
Provided during year 300
Balance at 31 October 2023 6,100

8. CALLED UP SHARE CAPITAL

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

9. TRANSACTIONS WITH DIRECTORS

During the year the company made interest free loans to J S D King of £35,000 and Ms M L Treeby of £10,000. At the balance sheet date, the following amounts were owed to the company:

J S D King £17,500
Ms M L Treeby £ 8,000

10. ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of Lopsrus Limited, a company registered in England and Wales, which in turn is wholly owned by J S D King, Ms M L Treeby and J P D King.