Company registration number 06101134 (England and Wales)
PHOENIX ALUMINIUM LIMITED
ANNUAL REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
PHOENIX ALUMINIUM LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
PHOENIX ALUMINIUM LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
27,773
36,670
Current assets
Stocks
146,847
149,920
Debtors
4
172,958
178,259
Cash at bank and in hand
505
426
320,310
328,605
Creditors: amounts falling due within one year
5
(263,194)
(312,459)
Net current assets
57,116
16,146
Total assets less current liabilities
84,889
52,816
Creditors: amounts falling due after more than one year
6
(13,912)
(24,065)
Provisions for liabilities
(2,059)
-
0
Net assets
68,918
28,751
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
67,918
27,751
Total equity
68,918
28,751

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 22 January 2025 and are signed on its behalf by:
R B Dalby
Director
Company registration number 06101134 (England and Wales)
PHOENIX ALUMINIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Phoenix Aluminium Limited is a private company limited by shares incorporated in England and Wales. The registered office is 205 Gloucester Crescent, South Wigston, Leicester, LE18 4YQ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Going concern

The company meets its day to day working capital requirements through management of its cash resources by utilising a bank overdraft facility where needed. The bank overdraft facility is supported by interlocking guarantees from the company's group which maintains a positiontrue within the agreed limits. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is recognised on the date that goods are despatched as this is the point at which all risks and rewards are deemed to be transferred.

1.4
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% per annum on reducing balance
Fixtures and fittings
25% per annum on reducing balance
Motor vehicles
25% per annum on reducing balance
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

1.6
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

PHOENIX ALUMINIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

 

Bank loans are initially measured at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.8
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in the profit and loss account .

PHOENIX ALUMINIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
8
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
7,192
92,192
99,384
Depreciation and impairment
At 1 April 2023
1,764
60,950
62,714
Depreciation charged in the year
1,086
7,811
8,897
At 31 March 2024
2,850
68,761
71,611
Carrying amount
At 31 March 2024
4,342
23,431
27,773
At 31 March 2023
5,428
31,242
36,670
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
152,790
148,229
Amounts owed by group undertakings
144
10,079
Other debtors
20,024
19,951
172,958
178,259
PHOENIX ALUMINIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
64,305
113,669
Trade creditors
174,915
164,414
Amounts owed to group undertakings
5,818
303
Taxation and social security
12,007
18,754
Other creditors
6,149
15,319
263,194
312,459
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,912
24,065

The aggregate amount of creditors for which security has been given amounted to £78,217 (2023: £137,734). The bank overdraft is secured by a fixed and floating charge over the company's assets and an unlimited cross company guarantee between members of the group to which the company belongs.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
8
Audit report information

As the profit and loss account has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
John Griffin FCCA
Statutory Auditor:
Newby Castleman LLP
Date of audit report:
22 January 2025
9
Financial commitments, guarantees and contingent liabilities

Under the terms of interlocking guarantees, Dalby Holdings Limited, Harry Dalby Engineering Limited, Regent Engineers Limited and Phoenix Aluminium Limited jointly and severally undertook to satisfy on demand all sums owing to finance providers by the other parties to the agreements. At 31 March 2024 the net amount owing to these finance providers by the other group undertakings was £661,473 (2023 - £Nil).

PHOENIX ALUMINIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
183,333
180,833
11
Related party transactions

The company has taken advantage of the exemption offered by FRS 102 from the requirement to disclose transactions with other group companies that are wholly owned.true

12
Parent company

The ultimate parent undertaking at the period end was Dalby Holdings Limited and the intermediate parent undertaking was Regent Engineers Limited.

 

The registered address of both Regent Engineers Limited and Dalby Holdings Limited is the same as the company's registered office address as given in the company information page of these financial statements.

 

The company is included in the consolidated financial statements of Dalby Holdings Limited, which are publicly available from Companies House, Cardiff.

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