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REGISTERED NUMBER: SC755034 (Scotland)













Unaudited Financial Statements

FOR THE PERIOD

11 January 2023 to 31 January 2024

for

PHOENIX DECORATING SCOTLAND LTD

PHOENIX DECORATING SCOTLAND LTD (REGISTERED NUMBER: SC755034)






Contents of the Financial Statements
FOR THE PERIOD 11 JANUARY 2023 TO 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHOENIX DECORATING SCOTLAND LTD

Company Information
FOR THE PERIOD 11 JANUARY 2023 TO 31 JANUARY 2024







DIRECTORS: I J D Matthew
Ms T M Cherrett





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC755034 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

PHOENIX DECORATING SCOTLAND LTD (REGISTERED NUMBER: SC755034)

Balance Sheet
31 JANUARY 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 40,500
Tangible assets 5 54,319
94,819

CURRENT ASSETS
Stocks 6 2,371
Debtors 7 160,289
Cash at bank 3,999
166,659
CREDITORS
Amounts falling due within one year 8 257,932
NET CURRENT LIABILITIES (91,273 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,546

CREDITORS
Amounts falling due after more than one
year

9

32,834
NET LIABILITIES (29,288 )

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (29,388 )
(29,288 )

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 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.

PHOENIX DECORATING SCOTLAND LTD (REGISTERED NUMBER: SC755034)

Balance Sheet - continued
31 JANUARY 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 20 January 2025 and were signed on its behalf by:





I J D Matthew - Director


PHOENIX DECORATING SCOTLAND LTD (REGISTERED NUMBER: SC755034)

Notes to the Financial Statements
FOR THE PERIOD 11 JANUARY 2023 TO 31 JANUARY 2024

1. STATUTORY INFORMATION

Phoenix Decorating Scotland Ltd is a private company, limited by shares , registered in Scotland. 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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The company's liabilities exceeded its assets by £29,288 at 31 January 2024. The company is thus dependent on the continued financial support of its creditors. The director is confident of this continuing support and of the company's long term trading prospects and on this basis considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of financial support.

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 2023, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery - 25% on a reducing balance basis
Fixtures and fittings - 25% on a reducing balance basis
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on a reducing balance basis

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


PHOENIX DECORATING SCOTLAND LTD (REGISTERED NUMBER: SC755034)

Notes to the Financial Statements - continued
FOR THE PERIOD 11 JANUARY 2023 TO 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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.

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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 45,000
At 31 January 2024 45,000
AMORTISATION
Charge for period 4,500
At 31 January 2024 4,500
NET BOOK VALUE
At 31 January 2024 40,500

PHOENIX DECORATING SCOTLAND LTD (REGISTERED NUMBER: SC755034)

Notes to the Financial Statements - continued
FOR THE PERIOD 11 JANUARY 2023 TO 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
Additions 8,172 2,531 65,498 225 76,426
Disposals - - (4,000 ) - (4,000 )
At 31 January 2024 8,172 2,531 61,498 225 72,426
DEPRECIATION
Charge for period 2,043 633 15,375 56 18,107
At 31 January 2024 2,043 633 15,375 56 18,107
NET BOOK VALUE
At 31 January 2024 6,129 1,898 46,123 169 54,319

The net book value of the company's fixed assets includes £40,123 in respect of assets held under finance leases or hire purchase contracts. Depreciation charged on these assets during the year amounted to £13,374.

6. STOCKS
£   
Stocks 2,371

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 157,595
Prepayments 2,694
160,289

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts 9,848
Trade creditors 35,446
Social security and other taxes 9,976
VAT 3,758
Other creditors 144,435
Directors' current accounts 50,909
Accrued expenses 3,560
257,932

PHOENIX DECORATING SCOTLAND LTD (REGISTERED NUMBER: SC755034)

Notes to the Financial Statements - continued
FOR THE PERIOD 11 JANUARY 2023 TO 31 JANUARY 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
£   
Hire purchase contracts 32,834