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PHOENIX ACCESSORIES (SAFETY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






PHOENIX ACCESSORIES (SAFETY) LIMITED (REGISTERED NUMBER: 00748283)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHOENIX ACCESSORIES (SAFETY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: M Brearley
Mrs J L Brearley
C Brearley





REGISTERED OFFICE: Waterloo Mills
Waterloo Road
Pudsey
West Yorkshire
LS28 8DQ





REGISTERED NUMBER: 00748283 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

PHOENIX ACCESSORIES (SAFETY) LIMITED (REGISTERED NUMBER: 00748283)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,477 26,527

CURRENT ASSETS
Stocks 63,050 63,033
Debtors 5 101,393 119,084
Investments 6 108,899 108,899
Cash at bank and in hand 168,179 161,076
441,521 452,092
CREDITORS
Amounts falling due within one year 7 139,156 156,417
NET CURRENT ASSETS 302,365 295,675
TOTAL ASSETS LESS CURRENT LIABILITIES 323,842 322,202

CREDITORS
Amounts falling due after more than one
year

8

(6,031

)

(10,058

)

PROVISIONS FOR LIABILITIES 9 (5,369 ) (5,061 )
NET ASSETS 312,442 307,083

CAPITAL AND RESERVES
Called up share capital 10 2,500 2,500
Other reserves 2,500 2,500
Retained earnings 307,442 302,083
SHAREHOLDERS' FUNDS 312,442 307,083

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 ACCESSORIES (SAFETY) LIMITED (REGISTERED NUMBER: 00748283)

BALANCE SHEET - continued
30 APRIL 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





M Brearley - Director


PHOENIX ACCESSORIES (SAFETY) LIMITED (REGISTERED NUMBER: 00748283)

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


1. STATUTORY INFORMATION

Phoenix Accessories (Safety) 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.

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

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.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PHOENIX ACCESSORIES (SAFETY) LIMITED (REGISTERED NUMBER: 00748283)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 31,271 24,803 35,489 91,563
DEPRECIATION
At 1 May 2023 29,059 3,617 32,360 65,036
Charge for year 390 3,617 1,043 5,050
At 30 April 2024 29,449 7,234 33,403 70,086
NET BOOK VALUE
At 30 April 2024 1,822 17,569 2,086 21,477
At 30 April 2023 2,212 21,186 3,129 26,527

The net book value of tangible fixed assets includes £ 17,569 (2023 - £ 21,186 ) in respect of assets held under hire purchase contracts.

PHOENIX ACCESSORIES (SAFETY) LIMITED (REGISTERED NUMBER: 00748283)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 89,154 107,177
Other debtors 6,580 6,580
Tax 1,946 1,946
Prepayments 3,713 3,381
101,393 119,084

6. CURRENT ASSET INVESTMENTS
30.4.24 30.4.23
£    £   
Listed investments 2,799 2,799
Unlisted investments 106,100 106,100
108,899 108,899

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 4,027 4,027
Trade creditors 90,718 113,361
Tax 18,560 12,244
Social security and other taxes 1,562 1,791
VAT 20,935 19,674
Directors' current accounts 44 340
Accrued expenses 3,310 4,980
139,156 156,417

The directors' loan account balance is interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 6,031 10,058

9. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 5,369 5,061

PHOENIX ACCESSORIES (SAFETY) LIMITED (REGISTERED NUMBER: 00748283)

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


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 5,061
Accelerated capital allowances 308
Balance at 30 April 2024 5,369

The entire provision for deferred tax is relating to accelerated capital allowances.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
2,385 Ordinary 1 2,385 2,385
115 A Ordinary 1 115 115
2,500 2,500

11. ULTIMATE CONTROLLING PARTY

Throughout the year the company was controlled by its directors.