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Registration number: 04552007

Phoenix Healthcare Products Limited

trading as Phoenix Healthcare Products Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Phoenix Healthcare Products Limited

trading as Phoenix Healthcare Products Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Phoenix Healthcare Products Limited

trading as Phoenix Healthcare Products Ltd

Company Information

Directors

Mr Dennis Griffin

Mr Raymond Andrew Aston

Mr Stefan Robert Rdzanek

Registered office

Unit 15 Calverton Business Park
Hoyle Road
Calverton
Nottingham
Nottinghamshire
NG14 6QL

Accountants

Atkinson Evans Limited
Chartered Certified Accountants
The Old Drill Hall
10 Arnot Hill Road
Arnold
Nottingham
Nottinghamshire
NG5 6LJ

 

Phoenix Healthcare Products Limited

trading as Phoenix Healthcare Products Ltd

(Registration number: 04552007)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

212,144

257,270

Current assets

 

Stocks

437,531

336,910

Debtors

260,215

312,349

Cash at bank and in hand

 

355,522

239,235

 

1,053,268

888,494

Prepayments and accrued income

 

14,961

18,579

Creditors: Amounts falling due within one year

(252,568)

(250,885)

Net current assets

 

815,661

656,188

Total assets less current liabilities

 

1,027,805

913,458

Provisions for liabilities

(40,199)

(50,662)

Accruals and deferred income

 

(22,967)

(24,542)

Net assets

 

964,639

838,254

Capital and reserves

 

Called up share capital

6

101

101

Retained earnings

964,538

838,153

Shareholders' funds

 

964,639

838,254

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Phoenix Healthcare Products Limited

trading as Phoenix Healthcare Products Ltd

(Registration number: 04552007)
Abridged Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

.........................................
Mr Dennis Griffin
Director

 

Phoenix Healthcare Products Limited

trading as Phoenix Healthcare Products Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Unit 15 Calverton Business Park
Hoyle Road
Calverton
Nottingham
Nottinghamshire
NG14 6QL

These financial statements were authorised for issue by the Board on 1 August 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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Phoenix Healthcare Products Limited

trading as Phoenix Healthcare Products Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Fixtures and fittings

25% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

33% on reducing balance

Hire equipment

15% on reducing balance

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimate useful life of 10 years.

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:

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.

 

Phoenix Healthcare Products Limited

trading as Phoenix Healthcare Products Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Phoenix Healthcare Products Limited

trading as Phoenix Healthcare Products Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 14).

 

Phoenix Healthcare Products Limited

trading as Phoenix Healthcare Products Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2023

150,000

At 31 March 2024

150,000

Amortisation

At 1 April 2023

150,000

At 31 March 2024

150,000

Carrying amount

At 31 March 2024

-

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2023

58,963

233,744

37,651

85,428

Additions

-

82,109

1,895

17,293

Disposals

-

(123,732)

-

(8,197)

At 31 March 2024

58,963

192,121

39,546

94,524

Depreciation

At 1 April 2023

54,650

40,783

33,096

29,986

Charge for the year

1,080

21,417

1,903

13,393

Eliminated on disposal

-

(18,414)

-

(4,884)

At 31 March 2024

55,730

43,786

34,999

38,495

Carrying amount

At 31 March 2024

3,233

148,335

4,547

56,029

At 31 March 2023

4,313

192,961

4,555

55,441

 

Phoenix Healthcare Products Limited

trading as Phoenix Healthcare Products Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Total
£

Cost or valuation

At 1 April 2023

415,786

Additions

101,297

Disposals

(131,929)

At 31 March 2024

385,154

Depreciation

At 1 April 2023

158,515

Charge for the year

37,793

Eliminated on disposal

(23,298)

At 31 March 2024

173,010

Carrying amount

At 31 March 2024

212,144

At 31 March 2023

257,270

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary shares of £1 each

15

15

15

15

B Ordinary shares of £1 each

85

85

85

85

C Dividend share of £1 each

1

1

1

1

101

101

101

101