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REGISTERED NUMBER: 04783083 (England and Wales)















PHOENIX DRIVERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






PHOENIX DRIVERS LIMITED (REGISTERED NUMBER: 04783083)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

PHOENIX DRIVERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Mr G C Brown





REGISTERED OFFICE: 12 Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR





REGISTERED NUMBER: 04783083 (England and Wales)





ACCOUNTANTS: Candour Accounts Limited
Endeavour House
7 Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

PHOENIX DRIVERS LIMITED (REGISTERED NUMBER: 04783083)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 400 800
Tangible assets 5 4,472 6,930
Investment property 6 400,000 570,000
404,872 577,730

CURRENT ASSETS
Debtors 7 130,643 132,335
Cash at bank and in hand 277,096 272,522
407,739 404,857
CREDITORS
Amounts falling due within one year 8 82,196 104,426
NET CURRENT ASSETS 325,543 300,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

730,415

878,161

CAPITAL AND RESERVES
Called up share capital 9 1 1
Other reserves 10 (41,774 ) 128,226
Retained earnings 10 772,188 749,934
SHAREHOLDERS' FUNDS 730,415 878,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 DRIVERS LIMITED (REGISTERED NUMBER: 04783083)

BALANCE SHEET - continued
30 JUNE 2024


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

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 6 September 2024 and were signed by:





Mr G C Brown - Director


PHOENIX DRIVERS LIMITED (REGISTERED NUMBER: 04783083)

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

1. STATUTORY INFORMATION

Phoenix Drivers 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.

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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PHOENIX DRIVERS LIMITED (REGISTERED NUMBER: 04783083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 2,000
AMORTISATION
At 1 July 2023 1,200
Amortisation for year 400
At 30 June 2024 1,600
NET BOOK VALUE
At 30 June 2024 400
At 30 June 2023 800

PHOENIX DRIVERS LIMITED (REGISTERED NUMBER: 04783083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 43,725 7,712 15,895 67,332
Additions - 1,381 - 1,381
Disposals - - (15,895 ) (15,895 )
At 30 June 2024 43,725 9,093 - 52,818
DEPRECIATION
At 1 July 2023 42,253 4,601 13,548 60,402
Charge for year 368 1,124 - 1,492
Eliminated on disposal - - (13,548 ) (13,548 )
At 30 June 2024 42,621 5,725 - 48,346
NET BOOK VALUE
At 30 June 2024 1,104 3,368 - 4,472
At 30 June 2023 1,472 3,111 2,347 6,930

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 570,000
Revaluations (170,000 )
At 30 June 2024 400,000
NET BOOK VALUE
At 30 June 2024 400,000
At 30 June 2023 570,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2017 75,726
Valuation in 2022 65,500
Valuation in 2023 (13,000 )
Valuation in 2024 (170,000 )
Cost 441,774
400,000

PHOENIX DRIVERS LIMITED (REGISTERED NUMBER: 04783083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 112,162 132,335
Directors' current accounts 18,481 -
130,643 132,335

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,466 2,093
Tax 15,879 15,596
Social security and other taxes 10,872 22,786
VAT 41,779 61,892
Other creditors 2,000 -
Directors' current accounts - 909
Accrued expenses 1,200 1,150
82,196 104,426

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 July 2023 749,934 128,226 878,160
Profit for the year 14,480 14,480
Dividends (34,000 ) (34,000 )
Revaluation 41,774 (170,000 ) (128,226 )
At 30 June 2024 772,188 (41,774 ) 730,414

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PHOENIX DRIVERS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Phoenix Drivers Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Phoenix Drivers Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Phoenix Drivers Limited and state those matters that we have agreed to state to the director of Phoenix Drivers Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phoenix Drivers Limited and its director for our work or for this report.

It is your duty to ensure that Phoenix Drivers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Phoenix Drivers Limited. You consider that Phoenix Drivers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Phoenix Drivers 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.






Candour Accounts Limited
Endeavour House
7 Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR


6 September 2024