2022-11-012023-10-312023-10-31false12948747PHENIX-UK FRANCHISING 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PHENIX-UK FRANCHISING LIMITED

Registered Number
12948747
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

PHENIX-UK FRANCHISING LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

KUMAR, Aaron Jitendra
PATEL, Jyotiben Jitendrabhai
PATEL, Rakhee
PATEL, Uma

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

12948747 (England and Wales)
PHENIX-UK FRANCHISING LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors67,46258,780
Cash at bank and on hand9,832762
77,29459,542
Creditors amounts falling due within one year3(61,525)(53,125)
Net current assets (liabilities)15,7696,417
Total assets less current liabilities15,7696,417
Net assets15,7696,417
Capital and reserves
Called up share capital100100
Profit and loss account15,6696,317
Shareholders' funds15,7696,417
The financial statements were approved and authorised for issue by the Board of Directors on 27 August 2024, and are signed on its behalf by:
PATEL, Rakhee
Director
Registered Company No. 12948747
PHENIX-UK FRANCHISING LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.Average number of employees

20232022
Average number of employees during the year55
3.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables8,74649,630
Taxation and social security711190
Other creditors46,326695
Accrued liabilities and deferred income5,7422,610
Total61,52553,125
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
4.Related party transactions
Amount of owed by group undertaking of £41,931 (2022 £695) which is related to Phenix-UK Trading Limited and £1,500 (2022 £Nil) which is related to Phenix UK Realty ltd.