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Company registration number: 07877752
Phoenix Care Wakefield Ltd
Unaudited filleted financial statements
30 June 2024
Phoenix Care Wakefield Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Phoenix Care Wakefield Ltd
Directors and other information
Directors J Thompson
J Thompson
Company number 07877752
Registered office Unit 3 Thornes Office Park
Monckton Road
Wakefield
West Yorkshire
WF2 7AN
Accountants Streets Andrew Wright
10 Cliff Parade
Wakefield
West Yorkshire
WF1 2TA
Phoenix Care Wakefield Ltd
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 25,977 35,327
_______ _______
25,977 35,327
Current assets
Debtors 6 228,413 221,091
_______ _______
228,413 221,091
Creditors: amounts falling due
within one year 7 ( 253,286) ( 255,513)
_______ _______
Net current liabilities ( 24,873) ( 34,422)
_______ _______
Total assets less current liabilities 1,104 905
_______ _______
Net assets 1,104 905
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,004 805
_______ _______
Shareholders funds 1,104 905
_______ _______
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 March 2025 , and are signed on behalf of the board by:
J Thompson
Director
Company registration number: 07877752
Phoenix Care Wakefield Ltd
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 3 Thornes Office Park, Monckton Road, Wakefield, West Yorkshire, WF2 7AN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Office equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 34 (2023: 26 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Office equipment Total
£ £ £ £
Cost
At 1 July 2023 and 30 June 2024 12,242 66,072 16,365 94,679
_______ _______ _______ _______
Depreciation
At 1 July 2023 6,758 40,493 12,101 59,352
Charge for the year 823 6,395 2,132 9,350
_______ _______ _______ _______
At 30 June 2024 7,581 46,888 14,233 68,702
_______ _______ _______ _______
Carrying amount
At 30 June 2024 4,661 19,184 2,132 25,977
_______ _______ _______ _______
At 30 June 2023 5,484 25,579 4,264 35,327
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 117,152 128,558
Other debtors 111,261 92,533
_______ _______
228,413 221,091
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 59,706 59,612
Corporation tax 42,015 37,130
Social security and other taxes 81,028 114,608
Other creditors 70,537 44,163
_______ _______
253,286 255,513
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
J Thompson 29,694 4,612 34,306
J Thompson 29,694 4,613 34,307
_______ _______ _______
59,388 9,225 68,613
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
J Thompson 39,155 ( 9,461) 29,694
J Thompson 39,155 ( 9,461) 29,694
_______ _______ _______
78,310 ( 18,922) 59,388
_______ _______ _______
9. Controlling party
The company is under the control of the directors by virtue of their beneficial shareholding.