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REGISTERED NUMBER: 06804324 (England and Wales)












Phoenix Interiors (SW) Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






Phoenix Interiors (SW) Limited (Registered number: 06804324)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Phoenix Interiors (SW) Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: I E Wills
G B Wallis
P J Acers





REGISTERED OFFICE: Unit 2 Dunheved Court
Pennygillam Way
Pennygillam Industrial Estate
LAUNCESTON
Cornwall
PL15 7ED





REGISTERED NUMBER: 06804324 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

Phoenix Interiors (SW) Limited (Registered number: 06804324)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 174,376 145,582

CURRENT ASSETS
Stocks 31,000 36,000
Debtors 5 411,804 507,133
Cash at bank and in hand 399,754 283,237
842,558 826,370
CREDITORS
Amounts falling due within one year 6 192,404 174,607
NET CURRENT ASSETS 650,154 651,763
TOTAL ASSETS LESS CURRENT LIABILITIES 824,530 797,345

PROVISIONS FOR LIABILITIES 36,921 29,586
NET ASSETS 787,609 767,759

CAPITAL AND RESERVES
Called up share capital 80 80
Retained earnings 787,529 767,679
787,609 767,759

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 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.

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 18 March 2025 and were signed on its behalf by:





I E Wills - Director


Phoenix Interiors (SW) Limited (Registered number: 06804324)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Phoenix Interiors (SW) 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 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 flor to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 4% on cost
Buildings - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 12.5% on cost

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

Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Phoenix Interiors (SW) Limited (Registered number: 06804324)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

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.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Holiday pay accrual
The company has chosen to not accrue for unpaid holiday at 31st December 2024 as the cost of extracting this information is in excess of the benefit obtained. This figure had also not been calculated in the previous year and therefore the movement from year to year is likely to negligible This is a departure from the normal accounting policy, however the directors feel that the financial statements still represent a true and fair view and can confirm that the business is still operating as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and
leasehold Buildings machinery
£    £    £   
COST
At 1 January 2024 11,646 27,284 2,712
Additions - - 9,728
Disposals - - -
At 31 December 2024 11,646 27,284 12,440
DEPRECIATION
At 1 January 2024 2,217 46 530
Charge for year 466 546 2,996
Eliminated on disposal - - -
At 31 December 2024 2,683 592 3,526
NET BOOK VALUE
At 31 December 2024 8,963 26,692 8,914
At 31 December 2023 9,429 27,238 2,182

Phoenix Interiors (SW) Limited (Registered number: 06804324)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2024 53,078 139,079 233,799
Additions - 58,585 68,313
Disposals - (24,784 ) (24,784 )
At 31 December 2024 53,078 172,880 277,328
DEPRECIATION
At 1 January 2024 47,145 38,279 88,217
Charge for year 3,330 22,625 29,963
Eliminated on disposal - (15,228 ) (15,228 )
At 31 December 2024 50,475 45,676 102,952
NET BOOK VALUE
At 31 December 2024 2,603 127,204 174,376
At 31 December 2023 5,933 100,800 145,582

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 153,124 248,436
Amounts owed by group undertakings 248,972 248,235
Other debtors 9,708 10,462
411,804 507,133

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 19,361 18,842
Taxation and social security 138,298 123,754
Other creditors 34,745 32,011
192,404 174,607

7. RELATED PARTY DISCLOSURES

During the year and the previous year the company entered into the following transactions with related parties.

Transactional Value Balance owed by/(owed to)
2024 2023 2024 2023
£    £    £    £   
North Devon Decorators Ltd - - (1,765 ) (1,765 )
Phoenix Flooring Devon Ltd 737 17,500 250,737 250,000

Mr P Acres is also a director of each of the above companies.

Phoenix Interiors (SW) Limited (Registered number: 06804324)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is a holding company called Phoenix Flooring Devon Limited.