REGISTERED NUMBER: |
Financial Statements |
for the Period |
26 February 2023 to 2 March 2024 |
for |
Phoenix Farm Group Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Period |
26 February 2023 to 2 March 2024 |
for |
Phoenix Farm Group Limited |
Phoenix Farm Group Limited (Registered number: 07111699) |
Contents of the Financial Statements |
for the Period 26 February 2023 to 2 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Phoenix Farm Group Limited |
Company Information |
for the Period 26 February 2023 to 2 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants & Business Advisers |
15 Newland |
Lincoln |
Lincolnshire |
LN1 1XG |
Phoenix Farm Group Limited (Registered number: 07111699) |
Balance Sheet |
2 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Phoenix Farm Group Limited (Registered number: 07111699) |
Notes to the Financial Statements |
for the Period 26 February 2023 to 2 March 2024 |
1. | STATUTORY INFORMATION |
Phoenix Farm Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2023 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 26 February 2023 |
Disposals | ( |
) |
At 2 March 2024 |
NET BOOK VALUE |
At 2 March 2024 |
At 25 February 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Phoenix Farm Group Limited (Registered number: 07111699) |
Notes to the Financial Statements - continued |
for the Period 26 February 2023 to 2 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
A Preference shares | - | 30,681 |
8. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
A Preference shares | 30,681 | 30,682 |
Amounts falling due between two and five years: |
A Preference shares | 122,725 | 122,725 |
Amounts falling due in more than five years: |
Repayable by instalments |
A Preference shares | - | 30,681 |
The A Preference shares of £1 each are entitled to an annual dividend of 4% on the nominal value of the shares in issue, which is payable no more than eight weeks after the year end. The shares are redeemable in eight annual instalments commencing April 2021 (or in full or part on an earlier disposal of the company or any part of its subsidiary undertakings) and rank pari passu with the B Preference shares on a return of capital or in the event of a disposal. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary shares | £1 | 1,000 | 1,000 |
B Preference shares | £1 | 400,000 | 400,000 |
401,000 | 401,000 |
The B Preference shares of £1 each are not entitled to any dividend. They may be redeemed only by resolution of the ordinary shareholders or on a disposal and rank pari passu with the A Preference shares on a return of capital or in the event of a disposal. |
Phoenix Farm Group Limited (Registered number: 07111699) |
Notes to the Financial Statements - continued |
for the Period 26 February 2023 to 2 March 2024 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | ULTIMATE CONTROLLING PARTY |
The directors consider that the ultimate controlling party of this company is its parent company Grovetree Limited. |
Grovetree Limited is the company's controlling related party by virtue of its ownership of the majority of the issued share capital of Phoenix Farm Group Limited. The ultimate controlling related parties of the company are the directors JW Hammond and AE Hammond by virtue of their respective shareholdings in Grovetree Limited. |