2022-11-012023-10-312023-10-31false12948745PHENIX-UK TRADING 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PHENIX-UK TRADING LIMITED

Registered Number
12948745
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

PHENIX-UK TRADING 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

12948745 (England and Wales)
PHENIX-UK TRADING LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets359,50031,500
Tangible assets41,570,271614,414
1,629,771645,914
Current assets
Debtors5103,65443,559
Cash at bank and on hand111,025145,606
214,679189,165
Creditors amounts falling due within one year6(1,816,145)(855,523)
Net current assets (liabilities)(1,601,466)(666,358)
Total assets less current liabilities28,305(20,444)
Net assets28,305(20,444)
Capital and reserves
Called up share capital100100
Profit and loss account28,205(20,544)
Shareholders' funds28,305(20,444)
The financial statements were approved and authorised for issue by the Board of Directors on 2 October 2024, and are signed on its behalf by:
PATEL, Rakhee
Director
Registered Company No. 12948745
PHENIX-UK TRADING 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
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Intangible assets
Franchise Fees has been amortized on SLM basis.
Tangible fixed assets and depreciation
During the the Previous year depreciation rate on Land and Building was changed from 25% RBM to no depreciation and Fixtures and fittings was changed from 25% RBM to 10 years straight line. Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings10
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.Average number of employees

20232022
Average number of employees during the year44
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 November 2235,00035,000
Additions35,00035,000
At 31 October 2370,00070,000
Amortisation and impairment
At 01 November 223,5003,500
Charge for year7,0007,000
At 31 October 2310,50010,500
Net book value
At 31 October 2359,50059,500
At 31 October 2231,50031,500
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 November 2228,601696,505725,106
Additions31,0361,037,9171,068,953
At 31 October 2359,6371,734,4221,794,059
Depreciation and impairment
At 01 November 22-110,692110,692
Charge for year-113,096113,096
At 31 October 23-223,788223,788
Net book value
At 31 October 2359,6371,510,6341,570,271
At 31 October 2228,601585,813614,414
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables-36,807
Other debtors87,3921,883
Prepayments and accrued income16,2624,869
Total103,65443,559
Other Debtors include balance of Phenix-UK Limited £495 (2022 - £395), Phenix-UK Holdings Limited £495 (2022 - £395), Phenix-UK Franchising Limited £41,931 (2022 - £695). Phenix-UK Reality Limited £398 (2022 - £398) and Phenix UK Products Limited £845 (2022 - £Nil).
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables15,57130,918
Taxation and social security-6,591
Other creditors1,797,271813,963
Accrued liabilities and deferred income3,3034,051
Total1,816,145855,523
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.
7.Directors advances, credits and guarantees
At the year end Director Current Account Balance is £46,000.00 (2022 - £66,000)