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REGISTERED NUMBER: 07111699 (England and Wales)






















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: T C Bradshaw
J W Hammond
A E Hammond





SECRETARY: P A Thompson





REGISTERED OFFICE: New Farm
Mansfield Road
Redhill
Nottinghamshire
NG5 8PB





REGISTERED NUMBER: 07111699 (England and Wales)





AUDITORS: Wright Vigar Limited
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 4 401,000 651,286

CURRENT ASSETS
Debtors 5 560,456 171,949
Cash at bank 928 53
561,384 172,002
CREDITORS
Amounts falling due within one year 6 34,028 66,602
NET CURRENT ASSETS 527,356 105,400
TOTAL ASSETS LESS CURRENT
LIABILITIES

928,356

756,686

CREDITORS
Amounts falling due after more than one
year

7

122,725

153,406
NET ASSETS 805,631 603,280

CAPITAL AND RESERVES
Called up share capital 9 401,000 401,000
Capital redemption reserve 92,044 61,362
Retained earnings 312,587 140,918
SHAREHOLDERS' FUNDS 805,631 603,280

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 Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





A E Hammond - Director


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 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.

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 651,286
Disposals (250,286 )
At 2 March 2024 401,000
NET BOOK VALUE
At 2 March 2024 401,000
At 25 February 2023 651,286

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 560,456 171,949

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 3,000 3,000
Taxation and social security 76 24,605
Other creditors 30,952 38,997
34,028 66,602

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 122,725 153,406

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: £    £   
1,000 Ordinary shares £1 1,000 1,000
400,000 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.

Matthew Chadwick BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

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.