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COMPANY REGISTRATION NUMBER: 09460472
Phoenix Creative Limited
Filleted Unaudited Financial Statements
29 February 2024
Phoenix Creative Limited
Financial Statements
Year ended 29 February 2024
Contents
Pages
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3 to 4
Phoenix Creative Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Phoenix Creative Limited
Year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Phoenix Creative Limited for the year ended 29 February 2024, which comprise the statement of financial position and the related notes 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Phoenix Creative Limited, 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 Creative Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phoenix Creative Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Phoenix Creative Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Phoenix Creative Limited. You consider that Phoenix Creative Limited 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 financial statements of Phoenix Creative Limited. 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 financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
29 November 2024
Phoenix Creative Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Current assets
Debtors
4
3,368
123,569
Cash at bank and in hand
242
161,422
-------
---------
3,610
284,991
Creditors: amounts falling due within one year
5
1,422
282,537
-------
---------
Net current assets
2,188
2,454
-------
-------
Total assets less current liabilities
2,188
2,454
-------
-------
Net assets
2,188
2,454
-------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
2,186
2,452
-------
-------
Shareholders funds
2,188
2,454
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 November 2024 , and are signed on behalf of the board by:
Miss D A Walker
Director
Company registration number: 09460472
Phoenix Creative Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Westbrook Court, Sharrow Vale Road, Sheffield, S11 8YZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Debtors
2024
2023
£
£
Trade debtors
123,569
Other debtors
3,368
-------
---------
3,368
123,569
-------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
822
281,509
Other creditors
600
1,028
-------
---------
1,422
282,537
-------
---------
6. Director's advances, credits and guarantees
At the start of the year, on 1st March 2023, the company was indebted to the company, by way of loan, in the sum of £628. During this latest year, the company advanced a total of £3,995 to the director leaving a closing balance of funds owing to the company by the director of £3,367 in relation to which no formal repayment terms apply and interest is not being charged.