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REGISTERED NUMBER: 13453092 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

PHOENIX BAY LIMITED

PHOENIX BAY LIMITED (REGISTERED NUMBER: 13453092)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHOENIX BAY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr R J Banks
Mrs J M Sloane



REGISTERED OFFICE: The Pavilion
3 Seale Hayne
Newton Abbot
Devon
TQ12 6NQ



REGISTERED NUMBER: 13453092 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Tide
4th Floor
Prologue Works
25 Marsh Street
Bristol
BS1 4AX

PHOENIX BAY LIMITED (REGISTERED NUMBER: 13453092)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,774 33,887

CURRENT ASSETS
Debtors 5 - 177
Cash at bank 85,758 53,529
85,758 53,706
CREDITORS
Amounts falling due within one year 6 37,000 25,574
NET CURRENT ASSETS 48,758 28,132
TOTAL ASSETS LESS CURRENT LIABILITIES 95,532 62,019

PROVISIONS FOR LIABILITIES 10,613 5,139
NET ASSETS 84,919 56,880

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 84,917 56,878
SHAREHOLDERS' FUNDS 84,919 56,880

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 BAY LIMITED (REGISTERED NUMBER: 13453092)

BALANCE SHEET - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2025 and were signed on its behalf by:




Mr R J Banks - Director



Mrs J M Sloane - Director


PHOENIX BAY LIMITED (REGISTERED NUMBER: 13453092)

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


1. STATUTORY INFORMATION

Phoenix Bay Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 10 ) .

PHOENIX BAY LIMITED (REGISTERED NUMBER: 13453092)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 August 2023 6,480 15,737 19,291 41,508
Additions - 8,935 9,727 18,662
At 31 July 2024 6,480 24,672 29,018 60,170
DEPRECIATION
At 1 August 2023 - 2,379 5,242 7,621
Charge for year - 3,343 2,432 5,775
At 31 July 2024 - 5,722 7,674 13,396
NET BOOK VALUE
At 31 July 2024 6,480 18,950 21,344 46,774
At 31 July 2023 6,480 13,358 14,049 33,887

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 177

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 24,930 8,902
Social security and other taxes 4,960 -
Other creditors 1,331 3,169
Directors' current accounts 3,538 11,466
Accrued expenses 2,241 2,037
37,000 25,574

7. OTHER FINANCIAL COMMITMENTS

At 31/07/2024, the company had total commitments under non-cancellable operating leases over the remaining life of the those leases of £53,662 (2023: £99,658).

PHOENIX BAY LIMITED (REGISTERED NUMBER: 13453092)

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


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Mr R J Banks
Balance outstanding at start of year (2,859 ) 1
Amounts advanced 37,382 15,575
Amounts repaid (37,241 ) (18,435 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,718 ) (2,859 )

Mrs J M Sloane
Balance outstanding at start of year (8,606 ) 1
Amounts advanced 36,378 10,393
Amounts repaid (28,592 ) (19,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (820 ) (8,606 )

Loans are unsecured, interest free and repayable on demand.