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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
Page
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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
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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
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Phoenix Electrical Engineering Services Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
144,052 
130,178 
Current assets
Inventories
14,000 
19,320 
Debtors
94,334 
326,436 
Cash at bank and in hand
43,912 
126,029 
152,246 
471,785 
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)
Net assets
80,332 
314,081 
Capital and reserves
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
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Phoenix Electrical Engineering Services Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
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.
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 as modified by the revaluation of certain fixed assets.
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. 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
Pension costs
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.
Additional Notes
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
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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 
Depreciation
At 1 January 2023
- 
69,885 
69,885 
Charge for the year
- 
28,144 
28,144 
At 31 December 2023
- 
98,029 
98,029 
Net book value
At 31 December 2023
34,096 
109,956 
144,052 
At 31 December 2022
22,706 
107,472 
130,178 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
- 
16,193 
5
Debtors
2023 
2022 
£ 
£ 
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 
Other debtors
12,916 
- 
94,334 
326,436 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
82,955 
45,455 
VAT
23,470 
20,394 
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 
Other creditors
1,480 
107 
Loans from directors
1,163 
1,023 
Accruals
9,197 
- 
155,360 
181,821 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
60,606 
106,061 
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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 
- 
85,750 
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.
10
Controlling party
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).
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