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Company Registration No. 05413728 (England and Wales)
Phoenix Precision Engineering Limited Unaudited accounts for the year ended 31 March 2024
Phoenix Precision Engineering Limited Unaudited accounts Contents
Page
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Phoenix Precision Engineering Limited Company Information for the year ended 31 March 2024
Directors
Mark Barry Dennaford Paul John Fallon
Company Number
05413728 (England and Wales)
Registered Office
13 PEVEREL DRIVE GRANBY BLETCHLEY MILTON KEYNES BUCKS MK1 1NL
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Phoenix Precision Engineering Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
6,000 
Tangible assets
785 
1,047 
785 
7,047 
Current assets
Debtors
21,818 
13,279 
Cash at bank and in hand
15,430 
7,079 
37,248 
20,358 
Creditors: amounts falling due within one year
(37,758)
(19,511)
Net current (liabilities)/assets
(510)
847 
Net assets
275 
7,894 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
273 
7,892 
Shareholders' funds
275 
7,894 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by
Paul John Fallon Director Company Registration No. 05413728
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Phoenix Precision Engineering Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Phoenix Precision Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 05413728. The registered office is 13 PEVEREL DRIVE, GRANBY BLETCHLEY, MILTON KEYNES, BUCKS, MK1 1NL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at historical cost less depreciation and impairment. Historical cost includes expenditure that is directly attributable to bring the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. on a reducing balance basis.
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing ballance
Intangible fixed assets
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to the initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis over its useful economic life.
Operating Leases: The Company as Lessee
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the lease term.
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Phoenix Precision Engineering Limited Notes to the Accounts for the year ended 31 March 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
60,000 
At 31 March 2024
60,000 
Amortisation
At 1 April 2023
54,000 
Charge for the year
6,000 
At 31 March 2024
60,000 
Net book value
At 31 March 2024
- 
At 31 March 2023
6,000 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
40,837 
3,250 
1,229 
45,316 
At 31 March 2024
40,837 
3,250 
1,229 
45,316 
Depreciation
At 1 April 2023
40,272 
3,188 
809 
44,269 
Charge for the year
141 
16 
105 
262 
At 31 March 2024
40,413 
3,204 
914 
44,531 
Net book value
At 31 March 2024
424 
46 
315 
785 
At 31 March 2023
565 
62 
420 
1,047 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
136 
Trade debtors
20,742 
7,848 
Accrued income and prepayments
- 
4,937 
Other debtors
1,076 
358 
21,818 
13,279 
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Phoenix Precision Engineering Limited Notes to the Accounts for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
4,120 
- 
Trade creditors
10,633 
10,276 
Taxes and social security
11,388 
6,077 
Other creditors
- 
1,841 
Loans from directors
188 
- 
Accruals
11,429 
1,317 
37,758 
19,511 
8
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
24,210 
14,241 
Later than one year and not later than five years
48,420 
- 
72,630 
14,241 
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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