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REGISTERED NUMBER: NI054117 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

THE PHOENIX (BALLYMENA) LTD

THE PHOENIX (BALLYMENA) LTD (REGISTERED NUMBER: NI054117)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE PHOENIX (BALLYMENA) LTD

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr P McCool
Ms M J Henry





SECRETARY: Mr P McCool





REGISTERED OFFICE: 14 Antrim Road
Ballymena
BT42 2BJ





REGISTERED NUMBER: NI054117 (Northern Ireland)





ACCOUNTANTS: M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH

THE PHOENIX (BALLYMENA) LTD (REGISTERED NUMBER: NI054117)

Balance Sheet
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,166,327 2,100,614
2,166,327 2,100,614

CURRENT ASSETS
Stocks 203,635 191,579
Debtors 6 98,193 98,692
Cash at bank and in hand 414,714 471,844
716,542 762,115
CREDITORS
Amounts falling due within one year 7 1,086,793 1,031,774
NET CURRENT LIABILITIES (370,251 ) (269,659 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,796,076

1,830,955

CREDITORS
Amounts falling due after more than one
year

8

(14,822

)

(117,231

)

PROVISIONS FOR LIABILITIES (94,234 ) (66,329 )

ACCRUALS AND DEFERRED INCOME (174,900 ) (291,500 )
NET ASSETS 1,512,120 1,355,895

CAPITAL AND RESERVES
Called up share capital 120,000 120,000
Retained earnings 1,392,120 1,235,895
1,512,120 1,355,895

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE PHOENIX (BALLYMENA) LTD (REGISTERED NUMBER: NI054117)

Balance Sheet - continued
31 MARCH 2024


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 November 2024 and were signed on its behalf by:





Mr P McCool - Director


THE PHOENIX (BALLYMENA) LTD (REGISTERED NUMBER: NI054117)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

The Phoenix (Ballymena) Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


THE PHOENIX (BALLYMENA) LTD (REGISTERED NUMBER: NI054117)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2023 - 60 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 300,000
AMORTISATION
At 1 April 2023
and 31 March 2024 300,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

THE PHOENIX (BALLYMENA) LTD (REGISTERED NUMBER: NI054117)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 2,334,217 908,907 3,243,124
Additions 96,892 130,253 227,145
At 31 March 2024 2,431,109 1,039,160 3,470,269
DEPRECIATION
At 1 April 2023 547,740 594,770 1,142,510
Charge for year 58,413 103,019 161,432
At 31 March 2024 606,153 697,789 1,303,942
NET BOOK VALUE
At 31 March 2024 1,824,956 341,371 2,166,327
At 31 March 2023 1,786,477 314,137 2,100,614

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 16,678 19,356
Other debtors 81,515 79,336
98,193 98,692

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 10,136 83,446
Trade creditors 502,772 458,755
Taxation and social security 122,639 138,177
Other creditors 451,246 351,396
1,086,793 1,031,774

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 14,822 117,231