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REGISTERED NUMBER: SC170397 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PHOENIX ELECTRICAL WHOLESALE SUPPLIES
LIMITED

PHOENIX ELECTRICAL WHOLESALE SUPPLIES
LIMITED (REGISTERED NUMBER: SC170397)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHOENIX ELECTRICAL WHOLESALE SUPPLIES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: C Spark





REGISTERED OFFICE: 6-8 Whin Place
Nerston
East Kilbride
G74 3XS





REGISTERED NUMBER: SC170397 (Scotland)





ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG

PHOENIX ELECTRICAL WHOLESALE SUPPLIES
LIMITED (REGISTERED NUMBER: SC170397)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 28,183 46,298
28,183 46,298

CURRENT ASSETS
Stocks 28,231 23,196
Debtors 6 280,279 339,688
Cash at bank and in hand 80,746 103,170
389,256 466,054
CREDITORS
Amounts falling due within one year 7 186,007 259,182
NET CURRENT ASSETS 203,249 206,872
TOTAL ASSETS LESS CURRENT
LIABILITIES

231,432

253,170

CREDITORS
Amounts falling due after more than one
year

8

(7,917

)

(26,917

)

PROVISIONS FOR LIABILITIES (5,778 ) (8,535 )
NET ASSETS 217,737 217,718

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 207,737 207,718
SHAREHOLDERS' FUNDS 217,737 217,718

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 ELECTRICAL WHOLESALE SUPPLIES
LIMITED (REGISTERED NUMBER: SC170397)

BALANCE SHEET - continued
31 DECEMBER 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 director and authorised for issue on 6 March 2025 and were signed by:





C Spark - Director


PHOENIX ELECTRICAL WHOLESALE SUPPLIES
LIMITED (REGISTERED NUMBER: SC170397)

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

1. STATUTORY INFORMATION

Phoenix Electrical Wholesale Supplies Limited 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.

Turnover
Turnover is stated net of VAT. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Where the contract is only partially completed at the balance sheet date turnover represents the value of work provided to date based on a proportion of the contract value. Where payments are received in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Goodwill
Goodwill,being the amount paid in connection with the acquisition of a business in 1996, was amortised evenly over its 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 & machinery - 33.33% on cost
Fixtures & fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

PHOENIX ELECTRICAL WHOLESALE SUPPLIES
LIMITED (REGISTERED NUMBER: SC170397)

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

2. ACCOUNTING POLICIES - continued

Basic financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 11,573
AMORTISATION
At 1 January 2024
and 31 December 2024 11,573
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

PHOENIX ELECTRICAL WHOLESALE SUPPLIES
LIMITED (REGISTERED NUMBER: SC170397)

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

5. TANGIBLE FIXED ASSETS
Freehold Plant & Fixtures Motor
property machinery & fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 70,451 46,216 33,739 98,474 248,880
Disposals - - - (28,820 ) (28,820 )
At 31 December 2024 70,451 46,216 33,739 69,654 220,060
DEPRECIATION
At 1 January 2024 70,451 46,216 33,466 52,449 202,582
Charge for year - - 55 11,506 11,561
Eliminated on disposal - - - (22,266 ) (22,266 )
At 31 December 2024 70,451 46,216 33,521 41,689 191,877
NET BOOK VALUE
At 31 December 2024 - - 218 27,965 28,183
At 31 December 2023 - - 273 46,025 46,298

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 55,993 117,120
Amounts owed by group undertakings 220,000 220,000
Other debtors 52 52
Prepayments 4,234 2,516
280,279 339,688

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts - 10,340
Trade creditors 41,314 100,219
Taxation and social security 22,055 25,752
Other creditors 122,638 122,871
186,007 259,182

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Other creditors 7,917 26,917

9. SECURED DEBTS

Bibby Factors Scotland Limited have a floating charge over the property and undertaking by the company.

Royal Bank of Scotland Plc also have a bond and floating charge over the assets of the company.

PHOENIX ELECTRICAL WHOLESALE SUPPLIES
LIMITED (REGISTERED NUMBER: SC170397)

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

10. OTHER FINANCIAL COMMITMENTS

At the year end the company had total commitments under operating leases of £51,667 (2023 £62,000).

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
C Spark
Balance outstanding at start of year 15,515 7,515
Amounts advanced 8,000 8,000
Amounts repaid (13,845 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,670 15,515

Loans to/from directors are interest free and repayable upon demand.

12. RELATED PARTY DISCLOSURES

Within other debtors is an amount owed by the parent company of £220,000 (2023 £220,000). This advance is interest free and is repayable upon demand.