Company Registration No. 03135186 (England and Wales)
Phoenix Electrical Engineering Services Limited
Unaudited accounts
for the year ended 31 December 2023
Phoenix Electrical Engineering Services Limited
Unaudited accounts
Contents
Phoenix Electrical Engineering Services Limited
Company Information
for the year ended 31 December 2023
Directors
Mrs Kathleen Trewern
Mr Terence Trewern
Mr Kevin Trewern
Mr Ross Trewern
Secretary
Mrs Kathleen Trewern
Company Number
03135186 (England and Wales)
Registered Office
Phoenix House
Scarne Mill Industrial Estate
Launceston
Cornwall
PL15 9GL
Accountants
The Fresh Accountancy Company Limited
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Phoenix Electrical Engineering Services Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Phoenix Electrical Engineering Services Limited for the year ended
31 December 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
The Fresh Accountancy Company Limited
Chartered Accountants
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
27 August 2024
Phoenix Electrical Engineering Services Limited
Statement of financial position
as at 31 December 2023
Tangible assets
144,052
130,178
Cash at bank and in hand
43,912
126,029
Creditors: amounts falling due within one year
(155,360)
(181,821)
Net current (liabilities)/assets
(3,114)
289,964
Total assets less current liabilities
140,938
420,142
Creditors: amounts falling due after more than one year
(60,606)
(106,061)
Called up share capital
50
15
Profit and loss account
80,282
314,066
Shareholders' funds
80,332
314,081
For the year ending 31 December 2023 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 27 August 2024 and were signed on its behalf by
Mr Kevin Trewern
Director
Company Registration No. 03135186
Phoenix Electrical Engineering Services Limited
Notes to the Accounts
for the year ended 31 December 2023
Phoenix Electrical Engineering Services Limited is a private company, limited by shares, registered in England and Wales, registration number 03135186. The registered office is Phoenix House, Scarne Mill Industrial Estate, Launceston, Cornwall, PL15 9GL.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Various rates depending on the life of the asset
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
During the year, the company incurred a number of one off costs in relation to a move of premises for the company
Turnover is down as clients have held off on large projects until the financial situation stabilizes.
Although the legislation for 'Forever Chemical Removal' is not through yet our clients are aware it is coming and will cost £1m's to achieve. This is another reason for client reluctance to push forward with Capital expenditure
Phoenix Electrical Engineering Services Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 January 2023
22,706
177,357
200,063
Additions
11,390
30,628
42,018
At 31 December 2023
34,096
207,985
242,081
At 1 January 2023
-
69,885
69,885
Charge for the year
-
28,144
28,144
At 31 December 2023
-
98,029
98,029
At 31 December 2023
34,096
109,956
144,052
At 31 December 2022
22,706
107,472
130,178
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
-
16,193
Amounts falling due within one year
Trade debtors
76,538
150,090
Amounts due from group undertakings etc.
-
147,922
Accrued income and prepayments
4,880
28,424
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
82,955
45,455
Obligations under finance leases and hire purchase contracts
-
20,583
Trade creditors
26,834
35,036
Amounts owed to group undertakings and other participating interests
2,600
-
Taxes and social security
7,661
59,223
Loans from directors
1,163
1,023
7
Creditors: amounts falling due after more than one year
2023
2022
Phoenix Electrical Engineering Services Limited
Notes to the Accounts
for the year ended 31 December 2023
8
Operating lease commitments
2023
2022
At 31 December 2023 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
-
37,750
Later than one year and not later than five years
-
48,000
9
Transactions with related parties
The company paid rent and management charges of £73,749 (2022 - £89,000) to a company which was controlled by the directors.
The controlling party was Phoenix Holdco Limited
Their registered office is Hunters Lodge, Virginstow, Beaworthy, Devon, EX21 5EA
11
Average number of employees
During the year the average number of employees was 6 (2022: 9).