1 November 2022 v2024.35.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP020667372022-11-012023-10-31020667372023-10-31020667372022-10-3102066737core:WithinOneYear2023-10-3102066737core:WithinOneYear2022-10-3102066737core:AfterOneYear2023-10-3102066737core:AfterOneYear2022-10-3102066737core:ShareCapital2023-10-3102066737core:ShareCapital2022-10-3102066737core:RetainedEarningsAccumulatedLosses2023-10-3102066737core:RetainedEarningsAccumulatedLosses2022-10-3102066737bus:Director12022-11-012023-10-3102066737bus:RegisteredOffice2022-11-012023-10-3102066737core:PlantMachinery2022-11-012023-10-31020667372021-11-012022-10-3102066737core:PlantMachinery2023-10-3102066737core:PlantMachinery2022-11-0102066737core:PlantMachinery2022-10-310206673712022-11-012023-10-3102066737countries:EnglandWales2022-11-012023-10-3102066737bus:AuditExempt-NoAccountantsReport2022-11-012023-10-3102066737bus:PrivateLimitedCompanyLtd2022-11-012023-10-3102066737bus:SmallEntities2022-11-012023-10-3102066737bus:FullAccounts2022-11-012023-10-31
Company registration number:
02066737
Phoenix Developments Limited
Unaudited Filleted Financial Statements for the year ended
31 October 2023
Phoenix Developments Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Phoenix Developments Limited
Year ended
31 October 2023
As described on the statement of financial position, the Board of Directors of
Phoenix Developments Limited
are responsible for the preparation of the
financial statements
for the year ended
31 October 2023
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Phoenix Developments Limited
Statement of Financial Position
31 October 2023
20232022
Note££
Fixed assets    
Tangible assets 5
240
 
308
 
Current assets    
Stocks
7,036
 
7,036
 
Debtors 6
11,973
 
16,713
 
Cash at bank and in hand
988
 
4,799
 
19,997
 
28,548
 
Creditors: amounts falling due within one year 7
(106,097
)
(89,783
)
Net current liabilities
(86,100
)
(61,235
)
Total assets less current liabilities (85,860 ) (60,927 )
Creditors: amounts falling due after more than one year 8
(2,258
)
(5,765
)
Net liabilities
(88,118
)
(66,692
)
Capital and reserves    
Called up share capital
1,098
 
1,098
 
Profit and loss account
(89,216
)
(67,790
)
Shareholders deficit
(88,118
)
(66,692
)
For the year ending
31 October 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
30 July 2024
, and are signed on behalf of the board by:
F Fagan
Director
Company registration number:
02066737
Phoenix Developments Limited
Notes to the Financial Statements
Year ended
31 October 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Gardner 1 Vane Street
,
Patricroft Eccles
,
Manchester
,
Lancashire
,
M30 0RS
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% reducing blance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
3
(2022:
2
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 November 2022
and
31 October 2023
17,736
 
Depreciation  
At
1 November 2022
17,428
 
Charge
68
 
At
31 October 2023
17,496
 
Carrying amount  
At
31 October 2023
240
 
At 31 October 2022
308
 

6 Debtors

20232022
££
Trade debtors
2,723
 
7,463
 
Other debtors
9,250
 
9,250
 
11,973
 
16,713
 

7 Creditors: amounts falling due within one year

20232022
££
Trade creditors
314
  -  
Taxation and social security
7,836
 
10,417
 
Other creditors
97,947
 
79,366
 
106,097
 
89,783
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
2,258
 
5,765