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Company Registration No. 11998394 (England and Wales)
Fhenix Ltd Unaudited accounts for the year ended 31 December 2023
Fhenix Ltd Unaudited accounts Contents
Page
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Fhenix Ltd Company Information for the year ended 31 December 2023
Directors
Rory Keaveny Joseph Keaveny
Company Number
11998394 (England and Wales)
Registered Office
124 City Road London EC1V 2NX
Accountants
Cloudkeepers London Ltd 124 City Road London EC1V 2NX
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Fhenix Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,070,438 
1,612,423 
Current assets
Debtors
185,562 
360,188 
Cash at bank and in hand
147,760 
175,534 
333,322 
535,722 
Creditors: amounts falling due within one year
(1,695,733)
(1,334,466)
Net current liabilities
(1,362,411)
(798,744)
Total assets less current liabilities
708,027 
813,679 
Creditors: amounts falling due after more than one year
(1,244,419)
(1,073,588)
Net liabilities
(536,392)
(259,909)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(536,492)
(260,009)
Shareholders' funds
(536,392)
(259,909)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by
Rory Keaveny Director Company Registration No. 11998394
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Fhenix Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Fhenix Ltd is a private company, limited by shares, registered in England and Wales, registration number 11998394. The registered office is 124 City Road, London, EC1V 2NX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
The financial statements have been prepared on a going concern basis, notwithstanding the net asset deficiency of £458,938 as at 31 December 2023. The directors have reviewed the company’s financial position, including projected cash flows, ongoing business operations, and financial commitments. The company has obtained confirmation from its directors and shareholders that they will continue to provide the necessary financial support to enable the company to meet its obligations as they fall due for the foreseeable future, beyond 12 months from the date of approval of these financial statements. Based on these considerations, the directors believe that the going concern basis of preparation remains appropriate.
Foreign exchange
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
10% straight line
Fixtures & fittings
10% straight line
Computer equipment
33% straight line
Presentation currency
The accounts are presented in £ sterling.
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Fhenix Ltd Notes to the Accounts for the year ended 31 December 2023
Leased assets
Rentals applicable to operating leases, where substantially all benefits and risks of ownership remain with the lessor, are charged to profit or loss on a straight-line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised as fixed assets and depreciated over their useful lives in accordance with the company’s depreciation policy. The corresponding lease or hire purchase obligation is recognised as a liability in the balance sheet. The interest element of finance lease and hire purchase payments is charged to profit or loss over the lease term, based on a constant periodic rate of interest on the remaining balance of the liability.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2023
807,049 
- 
1,039,217 
12,921 
1,859,187 
Additions
523,789 
1,831 
129,664 
9,362 
664,646 
At 31 December 2023
1,330,838 
1,831 
1,168,881 
22,283 
2,523,833 
Depreciation
At 1 January 2023
77,255 
- 
166,406 
3,103 
246,764 
Charge for the year
93,676 
550 
109,491 
2,914 
206,631 
At 31 December 2023
170,931 
550 
275,897 
6,017 
453,395 
Net book value
At 31 December 2023
1,159,907 
1,281 
892,984 
16,266 
2,070,438 
At 31 December 2022
729,794 
- 
872,811 
9,818 
1,612,423 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
5,007 
Accrued income and prepayments
48,612 
72,807 
Other debtors
136,950 
282,374 
185,562 
360,188 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
70,565 
167,392 
Trade creditors
630,859 
382,796 
Taxes and social security
28,320 
56,865 
Other creditors
116,722 
6,999 
Accruals
- 
31,360 
Deferred income
849,267 
689,054 
1,695,733 
1,334,466 
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Fhenix Ltd Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
23,379 
34,027 
Obligations under finance leases and hire purchase contracts
477,938 
400,967 
Loans from directors
560,246 
450,090 
Accruals
182,856 
188,504 
1,244,419 
1,073,588 
8
Transactions with related parties
Summary of transactions with other related parties At the year end, the balance due to the shareholder was £560,246. The loan was interest free.
9
Average number of employees
During the year the average number of employees was 48 (2022: 38).
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