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REGISTERED NUMBER: 11111643 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

PHOENIX INVESTMENT GROUP LTD

PHOENIX INVESTMENT GROUP LTD (REGISTERED NUMBER: 11111643)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PHOENIX INVESTMENT GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr C Moorby



REGISTERED OFFICE: 14 Grantley Road
Barrow in Furness
Cumbria
LA14 5QE



REGISTERED NUMBER: 11111643 (England and Wales)



BANKERS: Lloyds Bank plc
Victoria
1 Legg St
Chelmsford
Essex
CM1 1JS

PHOENIX INVESTMENT GROUP LTD (REGISTERED NUMBER: 11111643)

ABRIDGED BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 246,838 161,225

CURRENT ASSETS
Cash at bank 10,013 72,159

CREDITORS
Amounts falling due within one year 1,050 1,043
NET CURRENT ASSETS 8,963 71,116
TOTAL ASSETS LESS CURRENT
LIABILITIES

255,801

232,341

CREDITORS
Amounts falling due after more than one
year

5

264,710

245,283
NET LIABILITIES (8,909 ) (12,942 )

CAPITAL AND RESERVES
Called up share capital 7 14 14
Retained earnings (8,923 ) (12,956 )
SHAREHOLDERS' FUNDS (8,909 ) (12,942 )

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

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

The director acknowledges his 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 INVESTMENT GROUP LTD (REGISTERED NUMBER: 11111643)

ABRIDGED BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 February 2025 and were signed by:





Mr C Moorby - Director


PHOENIX INVESTMENT GROUP LTD (REGISTERED NUMBER: 11111643)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Phoenix Investment Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 the going concern basis.

Turnover
Turnover represents net invoiced rental income, excluding VAT.

Investment property
All of the company's investment properties are held for long-term investment and are included in the Balance Sheet at cost which is a departure from Financial Reporting Standard 102.

Depreciation is not provided in respect of investment properties which is a departure from Financial Reporting Standard 102 the Companies Act 2006. Depreciation if provided would not have been of a material nature.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 161,225
Additions 85,613
At 31 May 2024 246,838
NET BOOK VALUE
At 31 May 2024 246,838
At 31 May 2023 161,225

All of the company's investment properties are held for long-term investment and are included in the Balance Sheet at cost which is a departure from Financial Reporting Standard 102.

Depreciation is not provided in respect of investment properties which is a departure from Financial Reporting Standard 102 the Companies Act 2006. Depreciation if provided would not have been of a material nature.

PHOENIX INVESTMENT GROUP LTD (REGISTERED NUMBER: 11111643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.5.24 31.5.23
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 129,750 127,550

6. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loan 129,750 127,550

Onesavings Bank Plc holds two debentures over the company both fixed and floating over the company properties or undertaking present or future and a legal mortgage over the company's investment properties, located at 34 Island Road, Barrow and 40 Hawke Street, Barrow.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
14,000 Ordinary 0.001 p 14 14