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Company registration number: 13795665
Phoenix Boiler Specialists Ltd
Unaudited filleted financial statements
31 December 2023
Phoenix Boiler Specialists Ltd
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Phoenix Boiler Specialists Ltd
Directors and other information
Directors Mr Joe Harden
Company number 13795665
Registered office 563 Norwich Road
Ipswich
Suffolk
IP1 6JU
Business address 563 Norwich Road
Ipswich
Suffolk
IP1 6JU
Accountant Simon Emmerson MAAT AATQB
Deeks and King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
Bankers TSB Bank
Phoenix Boiler Specialists Ltd
Accountants Report to the board of directors on the preparation of the
unaudited statutory financial statements of Phoenix Boiler Specialists Ltd
Year ended 31 December 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2023 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Simon Emmerson MAAT AATQB
Deeks and King
Unit 2 The Rutherford Centre, Dunlop Road
Hadleigh Road Industrial Estate
Ipswich, Suffolk
IP2 0UG
16 September 2024
Phoenix Boiler Specialists Ltd
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 1,009 1,230
_______ _______
1,009 1,230
Current assets
Stocks 1,000 1,000
Debtors 6 5,480 410
Cash at bank and in hand 46 7,412
_______ _______
6,526 8,822
Creditors: amounts falling due
within one year 7 ( 3,183) ( 4,586)
_______ _______
Net current assets 3,343 4,236
_______ _______
Total assets less current liabilities 4,352 5,466
_______ _______
Net assets 4,352 5,466
_______ _______
Capital and reserves
Profit and loss account 4,352 5,466
_______ _______
Shareholder funds 4,352 5,466
_______ _______
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.
Directors responsibilities:
- The member has 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 September 2024 , and are signed on behalf of the board by:
Mr Joe Harden
Director
Company registration number: 13795665
Phoenix Boiler Specialists Ltd
Statement of changes in equity
Year ended 31 December 2023
Profit and loss account Total
£ £
At 1 January 2022 - -
(Loss)/profit for the year 5,466 5,466
_______ _______
Total comprehensive income for the year 5,466 5,466
_______ _______
At 31 December 2022 and 1 January 2023 5,466 5,466
(Loss)/profit for the year ( 1,114) ( 1,114)
_______ _______
Total comprehensive income for the year ( 1,114) ( 1,114)
_______ _______
At 31 December 2023 4,352 4,352
_______ _______
Phoenix Boiler Specialists Ltd
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 563 Norwich Road, Ipswich, Suffolk, IP1 6JU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2023 and 31 December 2023 1,230 1,230
_______ _______
Depreciation
At 1 January 2023 - -
Charge for the year 221 221
_______ _______
At 31 December 2023 221 221
_______ _______
Carrying amount
At 31 December 2023 1,009 1,009
_______ _______
At 31 December 2022 1,230 1,230
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 5,480 410
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 500 1,976
Corporation tax - 907
Social security and other taxes 1,643 1,183
Other creditors 1,040 520
_______ _______
3,183 4,586
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Joe Harden ( 520) ( 520) ( 1,040)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Joe Harden - ( 520) ( 520)
_______ _______ _______