Company Registration No. SC240580 (Scotland)
Phoenix Fire Side Limited
Unaudited accounts
for the year ended 30 April 2024
Phoenix Fire Side Limited
Unaudited accounts
Contents
Phoenix Fire Side Limited
Company Information
for the year ended 30 April 2024
Company Number
SC240580 (Scotland)
Registered Office
The Fire Side
Main Street
West Linton
EH46 7EA
Accountants
R Books Limited
16 Crookston Place
Peebles
Scottish Borders
EH45 9AL
Phoenix Fire Side Limited
Statement of financial position
as at 30 April 2024
Tangible assets
23,928
10,744
Cash at bank and in hand
58,596
47,788
Creditors: amounts falling due within one year
(49,478)
(73,910)
Net current assets
87,456
74,243
Total assets less current liabilities
111,384
84,987
Creditors: amounts falling due after more than one year
(28,241)
(33,796)
Provisions for liabilities
Deferred tax
(5,967)
(2,628)
Called up share capital
4
4
Profit and loss account
77,172
48,559
Shareholders' funds
77,176
48,563
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 December 2024 and were signed on its behalf by
Jacqui Morrison
Director
Company Registration No. SC240580
Phoenix Fire Side Limited
Notes to the Accounts
for the year ended 30 April 2024
Phoenix Fire Side Limited is a private company, limited by shares, registered in Scotland, registration number SC240580. The registered office is The Fire Side, Main Street, West Linton, EH46 7EA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
- 25% reducing balance
Motor vehicles
- 25% reducing balance
Computer equipment
- 25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Phoenix Fire Side Limited
Notes to the Accounts
for the year ended 30 April 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2023
10,330
30,045
3,279
43,654
Additions
-
20,995
-
20,995
Disposals
-
(15,050)
-
(15,050)
At 30 April 2024
10,330
35,990
3,279
49,599
At 1 May 2023
7,277
22,850
2,783
32,910
Charge for the year
2,582
5,055
174
7,811
On disposals
-
(15,050)
-
(15,050)
At 30 April 2024
9,859
12,855
2,957
25,671
At 30 April 2024
471
23,135
322
23,928
At 30 April 2023
3,053
7,195
496
10,744
Finished goods
46,000
42,000
Amounts falling due within one year
Trade debtors
23,875
55,850
Accrued income and prepayments
1,260
1,035
Phoenix Fire Side Limited
Notes to the Accounts
for the year ended 30 April 2024
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
5,556
5,556
Trade creditors
12,971
32,527
Taxes and social security
18,695
15,509
Other creditors
1,088
2,515
9
Creditors: amounts falling due after more than one year
2024
2023
Aggregate of amounts that fall due for payment after five years
463
6,019
10
Deferred taxation
2024
2023
Accelerated capital allowances
5,982
2,686
Other deferred taxation
(15)
(58)
Provision at start of year
2,628
1,890
Charged to the profit and loss account
3,339
738
Provision at end of year
5,967
2,628
Allotted, called up and fully paid:
3 Ordinary A shares of £1 each
3
3
1 Ordinary B shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
1,480
30,332
26,708
5,104
1,480
30,332
26,708
5,104
The loan is interest free and has no fixed terms of repayment.
Phoenix Fire Side Limited
Notes to the Accounts
for the year ended 30 April 2024
13
Average number of employees
During the year the average number of employees was 2 (2023: 2).