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Logo On Report
Registered Number: 07809943
England and Wales

 

 

 

PHOENIX MOTORCYCLE TRAINING LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Phoenix Motorcycle Training Limited for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Phoenix Motorcycle Training Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of Phoenix Motorcycle Training Limited , as a body, in accordance with the terms of our engagement letter dated 07 August 2024. Our work has been undertaken solely to prepare for your approval the accounts of Phoenix Motorcycle Training Limited and state those matters that we have agreed to state to the Board of Directors of Phoenix Motorcycle Training Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phoenix Motorcycle Training Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Phoenix Motorcycle Training Limited 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 Phoenix Motorcycle Training Limited. You consider that Phoenix Motorcycle Training Limited 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 Phoenix Motorcycle Training Limited. 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.



....................................................
T & K Accounting Group
69 Banstead Road
Carshalton
SM5 3NP
07 August 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 8,510    13,638 
Tangible fixed assets 4 416,481    470,838 
424,991    484,476 
Current assets      
Debtors: amounts falling due within one year 127,667    115,573 
Cash at bank and in hand 215,575    73,559 
343,242    189,132 
Creditors: amount falling due within one year (286,071)   (175,834)
Net current assets 57,171    13,298 
 
Total assets less current liabilities 482,162    497,774 
Creditors: amount falling due after more than one year (49,523)   (51,392)
Net assets 432,639    446,382 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 432,539    446,282 
Shareholders' funds 432,639    446,382 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 07 August 2024 and were signed on its behalf by:


-------------------------------
Mr Mark Warren Allenby Jaffe
Director
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General Information
Phoenix Motorcycle Training Limited is a private company, limited by shares, registered in England and Wales, registration number 07809943, registration address 46 West Park Avenue, Margate, Kent, CT9 3LJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 5 Straight Line
Plant and Machinery 25 Reducing Balance
Motor Vehicles 25 Reducing Balance
Fixtures and Fittings 5 Straight Line
Equipment 25 Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Average number of employees

Average number of employees during the year was 10 (2023 : 8).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 April 2023 59,807    59,807 
Additions  
Disposals  
At 31 March 2024 59,807    59,807 
Amortisation
At 01 April 2023 46,169    46,169 
Charge for year 5,128    5,128 
On disposals  
At 31 March 2024 51,297    51,297 
Net book values
At 31 March 2024 8,510    8,510 
At 31 March 2023 13,638    13,638 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Equipment   Land and Buildings   Total
  £   £   £   £   £   £
At 01 April 2023 9,850    1,038,063    3,033    145,602    99,803    1,296,351 
Additions 2,364    143,659      2,616      148,639 
Disposals   (20,880)         (20,880)
At 31 March 2024 12,214    1,160,842    3,033    148,218    99,803    1,424,110 
Depreciation
At 01 April 2023 7,522    673,144    738    116,156    27,953    825,513 
Charge for year 631    165,701    606    8,716    17,999    193,653 
On disposals   (11,537)         (11,537)
At 31 March 2024 8,153    827,308    1,344    124,872    45,952    1,007,629 
Net book values
Closing balance as at 31 March 2024 4,061    333,534    1,689    23,346    53,851    416,481 
Opening balance as at 01 April 2023 2,328    364,919    2,295    29,446    71,850    470,838 

The net book value of Land and Buildings includes £ 53,851 (2023 £71,850) in respect of assets leased under finance leases or hire purchase contracts.

5.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

6.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Vision call Centre10,574 2,500 (17,573)(6,999)

Included within other creditors due to Vision Call centre limited, a company in which some of the directors of Phoenix Motorcycle Training Limited are directors.
3