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REGISTERED NUMBER: 03701920 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Phoenix Marble and Granite Limited

Phoenix Marble and Granite Limited (Registered number: 03701920)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Phoenix Marble and Granite Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr C M Emery





SECRETARY: Mr K D Tyler





REGISTERED OFFICE: 4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF





BUSINESS ADDRESS: Gundrymoor
Collingwood Road
West Moors
Wimborne
Dorset
BH21 6QQ





REGISTERED NUMBER: 03701920 (England and Wales)





ACCOUNTANTS: Ward Goodman
4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

Phoenix Marble and Granite Limited (Registered number: 03701920)

Abridged Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 352,123 367,161

CURRENT ASSETS
Stocks 32,000 25,000
Debtors 136,896 118,000
Prepayments and accrued income 3,087 2,256
Cash at bank 15,784 11,867
187,767 157,123
CREDITORS
Amounts falling due within one year 523,777 482,034
NET CURRENT LIABILITIES (336,010 ) (324,911 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,113

42,250

CREDITORS
Amounts falling due after more than one
year

(56,295

)

(24,167

)

PROVISIONS FOR LIABILITIES - (12,569 )

ACCRUALS AND DEFERRED INCOME (3,348 ) (2,921 )
NET (LIABILITIES)/ASSETS (43,530 ) 2,593

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (43,630 ) 2,493
SHAREHOLDERS' FUNDS (43,530 ) 2,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Phoenix Marble and Granite Limited (Registered number: 03701920)

Abridged Statement of Financial Position - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2024 and were signed by:





Mr C M Emery - Director


Phoenix Marble and Granite Limited (Registered number: 03701920)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Phoenix Marble and Granite Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The director will continue to provide the necessary funds enabling it to trade as a going concern. As a result, the accruals basis for accounting has been adopted.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 1% on cost
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under hire purchase contracts are depreciated over their useful lives. Hire purchases are those where substantially all of the benefits and risks and rewards of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the lease payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Phoenix Marble and Granite Limited (Registered number: 03701920)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 466,039
Additions 10,367
At 31 December 2023 476,406
DEPRECIATION
At 1 January 2023 98,878
Charge for year 25,405
At 31 December 2023 124,283
NET BOOK VALUE
At 31 December 2023 352,123
At 31 December 2022 367,161

5. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000
Other loans 10,519 -
20,519 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000
Other loans - 1-2 years 12,319 -
22,319 10,000

Phoenix Marble and Granite Limited (Registered number: 03701920)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 4,167 14,167
Other loans - 2-5 years 29,809 -
33,976 14,167

6. PENSION COMMITMENTS

The company operates a money purchase pension scheme for the director and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of Nil (2022 - £Nil) were due to the fund. These are included within creditors.

7. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had rental commitments totalling £17,860 (2022 - £28,576).

The company also had bounce back loan commitments at the financial year end totalling £24,167 (2022 - £34,167) and Funding Circle loan commitments totalling £48,488 (2022 - £Nil).

There were no other financial commitments, contingencies or guarantees made on behalf of the director.

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

No advances were made to the director, C Emery during the financial year. The loan from the director is unsecured, interest free and repayable on demand.