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Registration number: 03884735

Phoenix Couriers (Hull) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Phoenix Couriers (Hull) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Phoenix Couriers (Hull) Ltd

Company Information

Director

Mr Simon Edward Moss

Registered office

Unit 21
Boulevard Unit Factory Estate
South Boulevard
Hull
East Yorkshire
HU3 4AY

Bankers

Co-operative Bank
Hull

Accountants

Flexibility Professional Services (UK) Ltd
Cherry Tree Court
36 Ferensway
Hull
East Yorkshire
HU2 8NH

 

Phoenix Couriers (Hull) Ltd

(Registration number: 03884735)
Balance Sheet as at 30 November 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

4

25,132

17,241

Current assets

 

Debtors

5

42,346

43,936

Cash at bank and in hand

 

69,262

117,931

 

111,608

161,867

Creditors: Amounts falling due within one year

6

(16,284)

(31,311)

Net current assets

 

95,324

130,556

Total assets less current liabilities

 

120,456

147,797

Provisions for liabilities

-

(2,916)

Net assets

 

120,456

144,881

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

119,456

143,881

Shareholders' funds

 

120,456

144,881

For the financial year ending 30 November 2023 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 November 2024
 

 

Phoenix Couriers (Hull) Ltd

(Registration number: 03884735)
Balance Sheet as at 30 November 2023

.........................................
Mr Simon Edward Moss
Director

 

Phoenix Couriers (Hull) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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:
Unit 21
Boulevard Unit Factory Estate
South Boulevard
Hull
East Yorkshire
HU3 4AY
United Kingdom

These financial statements were authorised for issue by the director on 30 November 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 received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

Phoenix Couriers (Hull) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Government grants

Government grants are charged to the Profit and Loss account on accrual basis unless they are connected to an asset purchase in which case they amortised over the life of the asset. Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of comprehensive income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Reducing balance basis @ 25%

Plant and machinery

Reducing balance basis @ 15%

Freehold property

Cost @ 10%

Fixtures and fittings

Reducing balance basis @ 15%

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.

 

Phoenix Couriers (Hull) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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.

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 4 (2022 - 4).

 

Phoenix Couriers (Hull) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

3,295

7,244

60,983

12,064

83,586

Additions

-

120

15,095

-

15,215

At 30 November 2023

3,295

7,364

76,078

12,064

98,801

Depreciation

At 1 December 2022

1,400

3,799

51,987

9,159

66,345

Charge for the year

330

535

6,023

436

7,324

At 30 November 2023

1,730

4,334

58,010

9,595

73,669

Carrying amount

At 30 November 2023

1,565

3,030

18,068

2,469

25,132

At 30 November 2022

1,895

3,445

8,996

2,905

17,241

Included within the net book value of land and buildings above is £1,565 (2022 - £1,895) in respect of freehold land and buildings.
 

 

Phoenix Couriers (Hull) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Debtors

Current

2023
£

(As restated)

2022
£

Trade debtors

25,563

29,748

Prepayments

2,317

2,220

Other debtors

14,466

11,968

 

42,346

43,936

6

Creditors

Creditors: amounts falling due within one year

2023
£

(As restated)

2022
£

Due within one year

Trade creditors

4,595

4,774

Taxation and social security

9,942

25,726

Accruals and deferred income

1,231

432

Other creditors

516

379

16,284

31,311

 

Phoenix Couriers (Hull) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary £1 of £1 each

1,000

1,000

1,000

1,000

       

8

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £Nil (2022 - £9.883) per each Ordinary £1

-

9,883

 

 

9

Related party transactions

Transactions with the director

2022

At 1 December 2021
£

Repayments by director
£

At 30 November 2022
£

Mr Simon Edward Moss

Directors Loan Account

36,826

(36,826)

-

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

13,309

24,570

 

Phoenix Couriers (Hull) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Dividends paid to the director

2023
£

2022
£

Mr Simon Edward Moss

Ordinary £1

-

9,883