Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-04-01falseproperty management services23truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01769243 2023-04-01 2024-06-30 01769243 2022-04-01 2023-03-31 01769243 2024-06-30 01769243 2023-03-31 01769243 c:Director2 2023-04-01 2024-06-30 01769243 d:CurrentFinancialInstruments 2024-06-30 01769243 d:CurrentFinancialInstruments 2023-03-31 01769243 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 01769243 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01769243 d:UKTax 2023-04-01 2024-06-30 01769243 d:UKTax 2022-04-01 2023-03-31 01769243 d:ShareCapital 2024-06-30 01769243 d:ShareCapital 2023-03-31 01769243 d:RetainedEarningsAccumulatedLosses 2024-06-30 01769243 d:RetainedEarningsAccumulatedLosses 2023-03-31 01769243 c:FRS102 2023-04-01 2024-06-30 01769243 c:AuditExemptWithAccountantsReport 2023-04-01 2024-06-30 01769243 c:FullAccounts 2023-04-01 2024-06-30 01769243 c:PrivateLimitedCompanyLtd 2023-04-01 2024-06-30 01769243 2 2023-04-01 2024-06-30 01769243 e:PoundSterling 2023-04-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 01769243










COVENTRY PHOENIX LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2024

 
COVENTRY PHOENIX LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFCOVENTRY PHOENIX LIMITED
FOR THE PERIOD ENDED 30 JUNE 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coventry Phoenix Limited for the period ended 30 June 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the Board of Directors of Coventry Phoenix Limited, as a body, in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Coventry Phoenix Limited and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coventry Phoenix Limited and its  Board of Directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Coventry Phoenix Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and loss. You consider that Coventry Phoenix Limited is exempt from the statutory audit requirement for the period.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Coventry Phoenix 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 financial statements.





Shipleys Tax Planning

1 August 2024
Page 1

 
COVENTRY PHOENIX LIMITED
REGISTERED NUMBER: 01769243

BALANCE SHEET
AS AT 30 JUNE 2024

30 June
31 March
2024
2023
Note
£
£

  

Current assets
  

Stocks
  
-
349,950

Debtors: amounts falling due within one year
 5 
275,000
223,817

Cash at bank and in hand
 6 
589,543
353,620

  
864,543
927,387

Creditors: amounts falling due within one year
 7 
(9,661)
(11,465)

Net current assets
  
 
 
854,882
 
 
915,922

Total assets less current liabilities
  
854,882
915,922

  

Net assets
  
854,882
915,922


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
854,782
915,822

  
854,882
915,922


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 August 2024.




James Knight-Adams
Director

The notes on pages 4 to 8 form part of these financial statements.
Page 2

 
COVENTRY PHOENIX LIMITED
REGISTERED NUMBER: 01769243

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024


Page 3

 
COVENTRY PHOENIX LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Coventry Phoenix Limited is a company domiciled in England & Wales, registration number 01769243. The registered office is 8 Old Market Court, High Street, Droitwich, WR9 8ES.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
COVENTRY PHOENIX LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

2024
2023
£
£

Wages and salaries
18,672
46,813

Social security costs
1,233
33

19,905
46,846


The average monthly number of employees, including directors, during the period was 2 (2023 - 3).

Page 5

 
COVENTRY PHOENIX LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
2,161
(7,624)


2,161
(7,624)


Total current tax
2,161
(7,624)

Factors affecting tax charge for the period/year

The tax assessed for the period/year is lower than (2023 - the same as) the standard rate of corporation tax in the UK of 19% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Loss on ordinary activities before tax
(58,880)
(703)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2023 - 19%)
(11,187)
(134)

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
27,951
-

Utilisation of tax losses
(11,823)
-

Adjustments to tax charge in respect of prior periods
(2,519)
(7,624)

Unrelieved tax losses carried forward
-
134

Marginal rate difference
(261)
-

Total tax charge for the period/year
2,161
(7,624)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 6

 
COVENTRY PHOENIX LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

5.


Debtors

30 June
31 March
2024
2023
£
£


Trade debtors
-
500

Other debtors
275,000
223,317

275,000
223,817



6.


Cash and cash equivalents

30 June
31 March
2024
2023
£
£

Cash at bank and in hand
589,543
353,620

589,543
353,620



7.


Creditors: Amounts falling due within one year

30 June
31 March
2024
2023
£
£

Trade creditors
-
7,511

Corporation tax
4,681
-

Other taxation and social security
-
654

Accruals and deferred income
4,980
3,300

9,661
11,465



8.


Related party transactions

During the period the company invoiced a management charge of £48,911 (2023: £67,076) to the Estate of the former director Mark Knight-Adams.
During the period the Estate of the former director Mark Knight-Adams repaid the company £223,318. At the balance sheet date other debtors included £NIL 
(2023: £223,318) as amounts owed by the Estate of Mark Knight-Adams.
During the period the company received rental income of £5,000 
(2023: £6,000) from Postflux Ltd. The director James Knight-Adams is a director and shareholder of Postflux Ltd.
During the period Postflux Ltd charged administration & management charges totalling £19,800 
(2023: £11,000).

Page 7

 
COVENTRY PHOENIX LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

9.


Controlling party

The company is controlled by the director James Knight-Adams.


Page 8