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Registration number: 14206633

Phoenix Electrical (Southern) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Phoenix Electrical (Southern) Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Statement of Income and Retained Earnings

4

Balance Sheet

5

Notes to the Unaudited Financial Statements

6 to 10

iXBRL Detailed Profit and Loss Account

11 to 12

 

Phoenix Electrical (Southern) Ltd

Company Information

Director

Mr R Terry

Registered office

4 Fell Close
Locks Heath
Southampton
SO31 6UT

Accountants

Brent King Limited
Chartered Accountants
Unit 4G
Oakland Office Park
Aerodrome Road
Gosport
Hampshire
PO13 0GY

 

Phoenix Electrical (Southern) Ltd

Director's Report for the Year Ended 30 June 2024

The director presents his report and the financial statements for the year ended 30 June 2024.

Director of the company

The director who held office during the year was as follows:

Mr R Terry

Principal activity

The principal activity of the company is that of electrical services.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 24 September 2024
 

.........................................
Mr R Terry
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Phoenix Electrical (Southern) Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Phoenix Electrical (Southern) Ltd for the year ended 30 June 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Phoenix Electrical (Southern) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Phoenix Electrical (Southern) Ltd and state those matters that we have agreed to state to the Board of Directors of Phoenix Electrical (Southern) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phoenix Electrical (Southern) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Phoenix Electrical (Southern) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Phoenix Electrical (Southern) Ltd. You consider that Phoenix Electrical (Southern) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Phoenix Electrical (Southern) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Brent King Limited
Chartered Accountants
Unit 4G
Oakland Office Park
Aerodrome Road
Gosport
Hampshire
PO13 0GY

21 October 2024

 

Phoenix Electrical (Southern) Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 30 June 2024

Note

2024
£

2023
£

Turnover

 

89,466

213,391

Cost of sales

 

(22,384)

(127,706)

Gross profit

 

67,082

85,685

Administrative expenses

 

(22,814)

(22,960)

Other operating income

 

-

1,061

Operating profit

 

44,268

63,786

Other interest receivable and similar income

 

3

67

 

3

67

Profit before tax

4

44,271

63,853

Taxation

 

(8,427)

(12,495)

Profit for the financial year

 

35,844

51,358

Retained earnings brought forward

 

5,994

-

Dividends paid

 

(40,600)

(45,364)

Retained earnings carried forward

 

1,238

5,994

 

Phoenix Electrical (Southern) Ltd

(Registration number: 14206633)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,534

4,500

Current assets

 

Debtors

6

11,634

22,759

Cash at bank and in hand

 

13,162

19,571

 

24,796

42,330

Creditors: Amounts falling due within one year

7

(27,082)

(40,826)

Net current (liabilities)/assets

 

(2,286)

1,504

Net assets

 

1,248

6,004

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

1,238

5,994

Shareholders' funds

 

1,248

6,004

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 24 September 2024
 

.........................................
Mr R Terry
Director

 

Phoenix Electrical (Southern) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 Fell Close
Locks Heath
Southampton
SO31 6UT

These financial statements were authorised for issue by the director on 24 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of VAT.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Phoenix Electrical (Southern) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

Straight line 25%

Office equipment

Straight line 33%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Phoenix Electrical (Southern) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,605

1,500

 

Phoenix Electrical (Southern) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

-

6,000

6,000

Additions

639

-

639

At 30 June 2024

639

6,000

6,639

Depreciation

At 1 July 2023

-

1,500

1,500

Charge for the year

105

1,500

1,605

At 30 June 2024

105

3,000

3,105

Carrying amount

At 30 June 2024

534

3,000

3,534

At 30 June 2023

-

4,500

4,500

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,000

5,450

Other debtors

10,634

17,309

 

11,634

22,759

 

Phoenix Electrical (Southern) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

8,427

12,495

Accruals and deferred income

317

2,013

Other creditors

18,338

26,318

27,082

40,826

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

10

10

10

10

       
 

Phoenix Electrical (Southern) Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 30 June 2024

2024
£

2023
£

Turnover/revenue

89,466

213,391

Cost of sales

Opening stock/inventories

-

-

Purchase of raw materials and consumables

(20,584)

(15,714)

Closing stock/inventories

-

-

Wages and salaries excluding directors

-

(8,947)

Social security costs excluding directors

-

(773)

Pension costs defined contribution schemes excluding directors

-

(123)

Staff costs excluding directors

-

(9,843)

Subcontractor costs

(1,800)

(102,149)

Gross profit

67,082

85,685

Distribution costs

Administrative expenses

Audit and accountancy other services

(1,900)

(2,000)

Advertising, promotions and marketing costs

(9)

(70)

Client entertaining costs

-

(84)

Depreciation of Fixed assets

(1,605)

(1,500)

Vehicle costs

(5,676)

(5,200)

Other staff costs

(286)

(51)

Social security costs excluding directors

-

(287)

Pension costs defined contribution schemes excluding directors

(50)

(126)

Staff costs excluding directors

(50)

(413)

Salaries and fees, directors

(7,875)

(8,896)

Social security costs, directors

(12)

-

Staff costs, directors

(7,887)

(8,896)

Travel and subsistence

(2,478)

(289)

Legal and professional costs

(66)

-

Bank charges

(47)

(37)

Insurance costs

(617)

(796)

IT and computing

(455)

(335)

Telecommunications

(360)

(685)

Printing, postage and stationery

(45)

(42)

Charitable donations

(29)

-

Subscriptions

(1,270)

(1,173)

Other costs

(34)

(1,389)

Other operating income

Other operating income

-

1,061

 

Phoenix Electrical (Southern) Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 30 June 2024

2024
£

2023
£

Other items

Profit on ordinary activities before finance charges and interest

44,268

63,786

Bank interest and similar income receivable

-

67

Non-bank interest and similar income receivable

3

-

Profit on ordinary activities before taxation

44,271

63,853

Tax on profit or loss on ordinary activities

(8,427)

(12,495)

Profit for the financial year

35,844

51,358