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REGISTERED NUMBER: 03604542 (England and Wales)



































Phoenix Kyle Properties Limited

Unaudited Financial Statements

for the Year Ended 30th June 2024






Phoenix Kyle Properties Limited (Registered number: 03604542)






Contents of the Financial Statements
for the year ended 30th June 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 8


Phoenix Kyle Properties Limited

Company Information
for the year ended 30th June 2024







Directors: M Lawrence
R Lawrence
F T Hoare





Secretary: R Lawrence





Registered office: Raytel House
1-5 Cutlers Road
South Woodham Ferrers
Essex
CM3 5WA





Registered number: 03604542 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Phoenix Kyle Properties Limited (Registered number: 03604542)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 548,641 535,759
548,641 535,759

Current assets
Stocks 10,329 10,970
Debtors 6 6,319 11,561
Cash at bank and in hand 6,693 33,961
23,341 56,492
Creditors
Amounts falling due within one year 7 274,435 261,102
Net current liabilities (251,094 ) (204,610 )
Total assets less current liabilities 297,547 331,149

Creditors
Amounts falling due after more than one
year

8

215,258

236,358
Net assets 82,289 94,791

Capital and reserves
Called up share capital 583,148 475,648
Retained earnings (500,859 ) (380,857 )
Shareholders' funds 82,289 94,791

Phoenix Kyle Properties Limited (Registered number: 03604542)

Balance Sheet - continued
30th June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 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 26th March 2025 and were signed on its behalf by:





M Lawrence - Director


Phoenix Kyle Properties Limited (Registered number: 03604542)

Notes to the Financial Statements
for the year ended 30th June 2024

1. Statutory information

Phoenix Kyle Properties 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, has been amortised fully over its estimated useful life of five 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 the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Office equipment - 25% on cost

The directors consider that the property is maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Phoenix Kyle Properties Limited (Registered number: 03604542)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

2. Accounting policies - continued

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, bank loans, other loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors, other loans and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Going concern
The company relies on the support of its directors and shareholders, which has been confirmed for a period of at least twelve months from the approval of the financial statements. Accordingly the directors have prepared the financial statements on the going concern basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

Phoenix Kyle Properties Limited (Registered number: 03604542)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

3. Employees and directors

The average number of employees during the year was 17 (2023 - 14 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st July 2023
and 30th June 2024 20,000
Amortisation
At 1st July 2023
and 30th June 2024 20,000
Net book value
At 30th June 2024 -
At 30th June 2023 -

5. Tangible fixed assets
Improvements
Freehold to Plant and
property property machinery
£    £    £   
Cost
At 1st July 2023 495,840 19,290 28,257
Additions - 2,104 23,511
At 30th June 2024 495,840 21,394 51,768
Depreciation
At 1st July 2023 - 8,053 10,048
Charge for year - 3,858 6,137
At 30th June 2024 - 11,911 16,185
Net book value
At 30th June 2024 495,840 9,483 35,583
At 30th June 2023 495,840 11,237 18,209

Phoenix Kyle Properties Limited (Registered number: 03604542)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

5. Tangible fixed assets - continued

Fixtures
and Office
fittings equipment Totals
£    £    £   
Cost
At 1st July 2023 21,115 8,870 573,372
Additions - - 25,615
At 30th June 2024 21,115 8,870 598,987
Depreciation
At 1st July 2023 13,597 5,915 37,613
Charge for year 1,125 1,613 12,733
At 30th June 2024 14,722 7,528 50,346
Net book value
At 30th June 2024 6,393 1,342 548,641
At 30th June 2023 7,518 2,955 535,759

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 5,588 -
Other debtors 731 11,561
6,319 11,561

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 19,000 19,000
Trade creditors 20,573 14,779
Taxation and social security 17,362 15,726
Other creditors 217,500 211,597
274,435 261,102

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 209,925 229,025
Other creditors 5,333 7,333
215,258 236,358

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after five years 147,192 159,292

Phoenix Kyle Properties Limited (Registered number: 03604542)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 228,925 248,025

The bank loans are secured by a fixed and floating charge over the property of the company and all undertakings of the business.