The Phoenix Club Ltd 08783082 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is provision of club and member facilities Digita Accounts Production Advanced 6.30.9574.0 true 08783082 2022-10-01 2023-09-30 08783082 2023-09-30 08783082 bus:OrdinaryShareClass1 2023-09-30 08783082 core:RetainedEarningsAccumulatedLosses 2023-09-30 08783082 core:ShareCapital 2023-09-30 08783082 core:CurrentFinancialInstruments 2023-09-30 08783082 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 08783082 core:Goodwill 2023-09-30 08783082 core:OtherPropertyPlantEquipment 2023-09-30 08783082 bus:SmallEntities 2022-10-01 2023-09-30 08783082 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 08783082 bus:FullAccounts 2022-10-01 2023-09-30 08783082 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 08783082 bus:RegisteredOffice 2022-10-01 2023-09-30 08783082 bus:CompanySecretary1 2022-10-01 2023-09-30 08783082 bus:Director2 2022-10-01 2023-09-30 08783082 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 08783082 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 08783082 bus:Agent1 2022-10-01 2023-09-30 08783082 core:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 08783082 core:ShareCapital 2022-10-01 2023-09-30 08783082 core:Goodwill 2022-10-01 2023-09-30 08783082 core:FurnitureFittings 2022-10-01 2023-09-30 08783082 core:OfficeEquipment 2022-10-01 2023-09-30 08783082 core:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 08783082 core:PlantMachinery 2022-10-01 2023-09-30 08783082 core:Vehicles 2022-10-01 2023-09-30 08783082 countries:AllCountries 2022-10-01 2023-09-30 08783082 2022-09-30 08783082 core:RetainedEarningsAccumulatedLosses 2022-09-30 08783082 core:ShareCapital 2022-09-30 08783082 core:Goodwill 2022-09-30 08783082 core:OtherPropertyPlantEquipment 2022-09-30 08783082 2021-10-01 2022-09-30 08783082 2022-09-30 08783082 bus:OrdinaryShareClass1 2022-09-30 08783082 core:RetainedEarningsAccumulatedLosses 2022-09-30 08783082 core:ShareCapital 2022-09-30 08783082 core:CurrentFinancialInstruments 2022-09-30 08783082 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 08783082 core:Goodwill 2022-09-30 08783082 core:OtherPropertyPlantEquipment 2022-09-30 08783082 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 08783082 core:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 08783082 core:ShareCapital 2021-10-01 2022-09-30 08783082 2021-09-30 08783082 core:RetainedEarningsAccumulatedLosses 2021-09-30 08783082 core:ShareCapital 2021-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08783082

The Phoenix Club Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

The Phoenix Club Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

The Phoenix Club Ltd

Company Information

Director

Mrs Margaret Feerick

Company secretary

Britannia Accountancy & Tax Services Ltd

Registered office

A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

Accountants

Britannia Accountancy & Tax Services Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

 

The Phoenix Club Ltd

Director's Report for the Year Ended 30 September 2023

The director presents her report and the financial statements for the year ended 30 September 2023.

Director of the company

The director who held office during the year was as follows:

Mrs Margaret Feerick

Principal activity

The principal activity of the company is provision of club and member facilities

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 31 July 2024 and signed on its behalf by:

.........................................
Mrs Margaret Feerick
Director

   
     
 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
The Phoenix Club Ltd
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Phoenix Club Ltd for the year ended 30 September 2023 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of The Phoenix Club Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Phoenix Club Ltd and state those matters that we have agreed to state to the Board of Directors of The Phoenix Club Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Phoenix Club Ltd and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by The Phoenix Club Ltd

It is your duty to ensure that The Phoenix Club Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Phoenix Club Ltd. You consider that The Phoenix Club Ltd 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 accounts of The Phoenix Club Ltd. 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 accounts.

......................................

Britannia Accountancy & Tax Services Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

31 July 2024

 

The Phoenix Club Ltd

Profit and Loss Account for the Year Ended 30 September 2023

Note

2023
£

2022
£

Turnover

 

134,836

152,910

Cost of sales

 

(53,404)

(77,069)

Gross profit

 

81,432

75,841

Administrative expenses

 

(73,904)

(85,115)

Operating profit/(loss)

 

7,528

(9,274)

Profit/(loss) before tax

4

7,528

(9,274)

Profit/(loss) for the financial year

 

7,528

(9,274)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

The Phoenix Club Ltd

Statement of Comprehensive Income for the Year Ended 30 September 2023

2023
£

2022
£

Profit/(loss) for the year

7,528

(9,274)

Total comprehensive income for the year

7,528

(9,274)

 

The Phoenix Club Ltd

(Registration number: 08783082)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

11,100

22,200

Tangible assets

6

183

223

 

11,283

22,423

Current assets

 

Stocks

7

31,873

46,850

Cash at bank and in hand

 

9

13,700

 

31,882

60,550

Creditors: Amounts falling due within one year

8

(44,308)

(91,644)

Net current liabilities

 

(12,426)

(31,094)

Net liabilities

 

(1,143)

(8,671)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(1,243)

(8,771)

Shareholders' deficit

 

(1,143)

(8,671)

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 July 2024
 

.........................................
Mrs Margaret Feerick
Director

   
     
 

The Phoenix Club Ltd

Statement of Changes in Equity for the Year Ended 30 September 2023

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

100

(8,771)

(8,671)

Profit for the year

-

7,528

7,528

At 30 September 2023

100

(1,243)

(1,143)

Share capital
£

Retained earnings
£

Total
£

At 1 October 2021

100

503

603

Loss for the year

-

(9,274)

(9,274)

At 30 September 2022

100

(8,771)

(8,671)

 

The Phoenix Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

These financial statements were authorised for issue by the director on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

18% on net book value

Vehicles

18% on net book value

 

The Phoenix Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Office equipment

18% on net book value

Furniture and fittings

18% on net book value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

The Phoenix Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 5).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

40

49

Amortisation expense

11,100

11,100

 

The Phoenix Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

111,000

111,000

At 30 September 2023

111,000

111,000

Amortisation

At 1 October 2022

88,800

88,800

Amortisation charge

11,100

11,100

At 30 September 2023

99,900

99,900

Carrying amount

At 30 September 2023

11,100

11,100

At 30 September 2022

22,200

22,200

6

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

331

331

At 30 September 2023

331

331

Depreciation

At 1 October 2022

108

108

Charge for the year

40

40

At 30 September 2023

148

148

Carrying amount

At 30 September 2023

183

183

At 30 September 2022

223

223

7

Stocks

2023
£

2022
£

Work in progress

9,000

13,000

Other inventories

22,873

33,850

31,873

46,850

 

The Phoenix Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

38,309

87,045

Accruals and deferred income

 

5,999

4,599

 

44,308

91,644

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

38,309

87,045

11

Dividends

Final dividends paid

 

2023
£

2022
£

Final dividend of £0 per each Ordinary share

-

-

     

Interim dividends paid

 

2023
£

2022
£

Interim dividend of £0 per each Ordinary share

-

-