2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,860 355,647 357,507 4,446 4,446 353,061 1,860 xbrli:pure xbrli:shares iso4217:GBP 00590401 2023-04-01 2024-03-31 00590401 2024-03-31 00590401 2023-03-31 00590401 2022-04-01 2023-03-31 00590401 2023-03-31 00590401 2022-03-31 00590401 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00590401 bus:Director1 2023-04-01 2024-03-31 00590401 bus:Director2 2023-04-01 2024-03-31 00590401 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 00590401 core:WithinOneYear 2024-03-31 00590401 core:WithinOneYear 2023-03-31 00590401 core:ShareCapital 2024-03-31 00590401 core:ShareCapital 2023-03-31 00590401 core:RetainedEarningsAccumulatedLosses 2024-03-31 00590401 core:RetainedEarningsAccumulatedLosses 2023-03-31 00590401 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 00590401 core:ImpairmentLossProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-03-31 00590401 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-03-31 00590401 core:Non-currentFinancialInstruments 2024-03-31 00590401 core:Non-currentFinancialInstruments 2023-03-31 00590401 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 00590401 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 00590401 bus:Director2 2024-03-31 00590401 bus:SmallEntities 2023-04-01 2024-03-31 00590401 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00590401 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00590401 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00590401 bus:FullAccounts 2023-04-01 2024-03-31 00590401 1 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 00590401
PHOENIX EXECUTIVE SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
PHOENIX EXECUTIVE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
353,061
1,860
Investments
6
13,276
412,753
---------
---------
366,337
414,613
CURRENT ASSETS
Debtors
7
100,000
223
Cash at bank and in hand
54,617
114,715
---------
---------
154,617
114,938
CREDITORS: amounts falling due within one year
8
53,855
17,370
---------
---------
NET CURRENT ASSETS
100,762
97,568
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
467,099
512,181
---------
---------
NET ASSETS
467,099
512,181
---------
---------
CAPITAL AND RESERVES
Called up share capital
40,000
40,000
Profit and loss account
427,099
472,181
---------
---------
SHAREHOLDERS FUNDS
467,099
512,181
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PHOENIX EXECUTIVE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 8 August 2024 , and are signed on behalf of the board by:
Mr R C P Seddon
Mr D J Seddon
Director
Director
Company registration number: 00590401
PHOENIX EXECUTIVE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 138 Northampton Road, Kettering, Northants, NN15 7JY, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents the amount derived from the provision of services within the company's ordinary activities.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Operating lease rentals are charged to profit and loss account on a straight line basis over the term of the lease.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
10% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. TANGIBLE ASSETS
Freehold property
£
Cost
At 1 April 2023
1,860
Additions
355,647
---------
At 31 March 2024
357,507
---------
Depreciation
At 1 April 2023
Charge for the year
4,446
---------
At 31 March 2024
4,446
---------
Carrying amount
At 31 March 2024
353,061
---------
At 31 March 2023
1,860
---------
6. INVESTMENTS
Shares in group undertakings
Sundry investments
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
399,478
13,275
412,753
---------
--------
---------
Impairment
At 1 April 2023
Impairment losses
399,477
399,477
---------
--------
---------
At 31 March 2024
399,477
399,477
---------
--------
---------
Carrying amount
At 31 March 2024
1
13,275
13,276
---------
--------
---------
At 31 March 2023
399,478
13,275
412,753
---------
--------
---------
7. DEBTORS
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
223
Other debtors
100,000
---------
----
100,000
223
---------
----
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
37,715
15,570
Other creditors
16,140
1,800
--------
--------
53,855
17,370
--------
--------
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr D J Seddon
101,701
( 1,701)
100,000
----
---------
-------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr D J Seddon
----
----
----
----
Interest is charged at official rate and the above amount was repaid within 9 months of the year-end.
10. RELATED PARTY TRANSACTIONS
Advantage has also been taken of the exemption conferred by FRS 102 to group undertakings, of whose voting rights are controlled within the group, not to disclose transactions with other group companies.
11. CONTROLLING PARTY
The company's ultimate controlling party is Campeones1516 Limited , which is incorporated in England and Wales.