IRIS Accounts Production v24.3.2.46 05715870 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057158702023-06-30057158702024-06-30057158702023-07-012024-06-30057158702022-06-30057158702022-07-012023-06-30057158702023-06-3005715870ns15:EnglandWales2023-07-012024-06-3005715870ns14:PoundSterling2023-07-012024-06-3005715870ns10:Director12023-07-012024-06-3005715870ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3005715870ns10:SmallEntities2023-07-012024-06-3005715870ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3005715870ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3005715870ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3005715870ns10:FullAccounts2023-07-012024-06-300571587012023-07-012024-06-3005715870ns10:Director22023-07-012024-06-3005715870ns10:Director32023-07-012024-06-3005715870ns10:Director42023-07-012024-06-3005715870ns10:CompanySecretary12023-07-012024-06-3005715870ns10:RegisteredOffice2023-07-012024-06-3005715870ns5:CurrentFinancialInstruments2024-06-3005715870ns5:CurrentFinancialInstruments2023-06-3005715870ns5:Non-currentFinancialInstruments2024-06-3005715870ns5:Non-currentFinancialInstruments2023-06-3005715870ns5:ShareCapital2024-06-3005715870ns5:ShareCapital2023-06-3005715870ns5:RetainedEarningsAccumulatedLosses2024-06-3005715870ns5:RetainedEarningsAccumulatedLosses2023-06-3005715870ns5:NetGoodwill2023-07-012024-06-3005715870ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3005715870ns5:LandBuildingsns5:ShortLeaseholdAssets2023-07-012024-06-3005715870ns5:PlantMachinery2023-07-012024-06-3005715870ns5:FurnitureFittings2023-07-012024-06-3005715870ns5:MotorVehicles2023-07-012024-06-3005715870ns5:ComputerEquipment2023-07-012024-06-3005715870ns5:NetGoodwill2023-06-3005715870ns5:NetGoodwill2024-06-3005715870ns5:NetGoodwill2023-06-3005715870ns5:LandBuildingsns5:ShortLeaseholdAssets2023-06-3005715870ns5:PlantMachinery2023-06-3005715870ns5:FurnitureFittings2023-06-3005715870ns5:LandBuildingsns5:ShortLeaseholdAssets2024-06-3005715870ns5:PlantMachinery2024-06-3005715870ns5:FurnitureFittings2024-06-3005715870ns5:LandBuildingsns5:ShortLeaseholdAssets2023-06-3005715870ns5:PlantMachinery2023-06-3005715870ns5:FurnitureFittings2023-06-3005715870ns5:MotorVehicles2023-06-3005715870ns5:ComputerEquipment2023-06-3005715870ns5:MotorVehicles2024-06-3005715870ns5:ComputerEquipment2024-06-3005715870ns5:MotorVehicles2023-06-3005715870ns5:ComputerEquipment2023-06-3005715870ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3005715870ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3005715870ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-06-3005715870ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3005715870ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3005715870ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3005715870ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-06-3005715870ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-06-3005715870ns10:Director222023-06-3005715870ns10:Director222022-06-3005715870ns10:Director222023-07-012024-06-3005715870ns10:Director222022-07-012023-06-3005715870ns10:Director222024-06-3005715870ns10:Director222023-06-30057158701ns10:Director12023-06-30057158701ns10:Director12022-06-30057158701ns10:Director12023-07-012024-06-30057158701ns10:Director12022-07-012023-06-30057158701ns10:Director12024-06-30057158701ns10:Director12023-06-30
REGISTERED NUMBER: 05715870 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

PHOENIX FABRICATIONS (SOUTH WEST) LTD

PHOENIX FABRICATIONS (SOUTH WEST) LTD (REGISTERED NUMBER: 05715870)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHOENIX FABRICATIONS (SOUTH WEST) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr D Taylor
Mr S Pitts
Mr L Capron
Mr C R Taylor



SECRETARY: Mr D Taylor



REGISTERED OFFICE: Unit 5 Silverhills Buildings
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5LZ



REGISTERED NUMBER: 05715870 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: NatWest
108 Union Street
Torquay
Devon
TQ2 5PZ

PHOENIX FABRICATIONS (SOUTH WEST) LTD (REGISTERED NUMBER: 05715870)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,500 5,500
Tangible assets 5 85,546 91,900
89,046 97,400

CURRENT ASSETS
Stocks 6 22,000 40,000
Debtors 7 428,783 679,512
Cash at bank 783,668 651,829
1,234,451 1,371,341
CREDITORS
Amounts falling due within one year 8 374,130 505,535
NET CURRENT ASSETS 860,321 865,806
TOTAL ASSETS LESS CURRENT LIABILITIES 949,367 963,206

CREDITORS
Amounts falling due after more than one
year

9

(37,644

)

(58,552

)

PROVISIONS FOR LIABILITIES (21,281 ) (17,376 )
NET ASSETS 890,442 887,278

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 890,342 887,178
SHAREHOLDERS' FUNDS 890,442 887,278

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

PHOENIX FABRICATIONS (SOUTH WEST) LTD (REGISTERED NUMBER: 05715870)

BALANCE SHEET - continued
30 JUNE 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 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 28 March 2025 and were signed on its behalf by:





Mr D Taylor - Director


PHOENIX FABRICATIONS (SOUTH WEST) LTD (REGISTERED NUMBER: 05715870)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Phoenix Fabrications (South West) Ltd 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - Straight line over the life of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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 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.


PHOENIX FABRICATIONS (SOUTH WEST) LTD (REGISTERED NUMBER: 05715870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 40,000
AMORTISATION
At 1 July 2023 34,500
Amortisation for year 2,000
At 30 June 2024 36,500
NET BOOK VALUE
At 30 June 2024 3,500
At 30 June 2023 5,500

PHOENIX FABRICATIONS (SOUTH WEST) LTD (REGISTERED NUMBER: 05715870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 July 2023 1,830 63,267 2,081
Additions - 417 6,149
Disposals - (6,224 ) -
At 30 June 2024 1,830 57,460 8,230
DEPRECIATION
At 1 July 2023 1,830 18,322 694
Charge for year - 8,690 1,130
Eliminated on disposal - (4,313 ) -
At 30 June 2024 1,830 22,699 1,824
NET BOOK VALUE
At 30 June 2024 - 34,761 6,406
At 30 June 2023 - 44,945 1,387

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 74,235 2,088 143,501
Additions 10,417 5,761 22,744
Disposals (8,000 ) - (14,224 )
At 30 June 2024 76,652 7,849 152,021
DEPRECIATION
At 1 July 2023 28,791 1,964 51,601
Charge for year 13,333 1,503 24,656
Eliminated on disposal (5,469 ) - (9,782 )
At 30 June 2024 36,655 3,467 66,475
NET BOOK VALUE
At 30 June 2024 39,997 4,382 85,546
At 30 June 2023 45,444 124 91,900

PHOENIX FABRICATIONS (SOUTH WEST) LTD (REGISTERED NUMBER: 05715870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023
and 30 June 2024 61,235
DEPRECIATION
At 1 July 2023 19,247
Charge for year 10,497
At 30 June 2024 29,744
NET BOOK VALUE
At 30 June 2024 31,491
At 30 June 2023 41,988

6. STOCKS
2024 2023
£    £   
Stocks 22,000 40,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 279,614 484,806
Amounts recoverable on contract 65,000 150,000
Directors' current accounts 6,917 -
VAT 59,301 27,893
Prepayments 17,951 16,813
428,783 679,512

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,900 9,658
Hire purchase contracts 10,767 11,678
VAT due on errors made 66,375 66,375
Trade creditors 116,211 246,664
Tax 135,472 133,069
Social security and other taxes 4,393 2,913
Other creditors 10,392 7,294
Directors' current accounts 16,640 24,099
Accrued expenses 3,980 3,785
374,130 505,535

PHOENIX FABRICATIONS (SOUTH WEST) LTD (REGISTERED NUMBER: 05715870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 14,162 24,303
Hire purchase contracts 23,482 34,249
37,644 58,552

10. OTHER FINANCIAL COMMITMENTS

At 30 June 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £33,250 (2023: £33,250).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mr S Pitts
Balance outstanding at start of year (721 ) (816 )
Amounts advanced 104,403 76,095
Amounts repaid (109,443 ) (76,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,761 ) (721 )

Mr D Taylor
Balance outstanding at start of year (23,268 ) (2,655 )
Amounts advanced 156,545 76,753
Amounts repaid (144,156 ) (97,366 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,879 ) (23,268 )

Mr L Capron
Balance outstanding at start of year (110 ) (3,301 )
Amounts advanced 55,838 37,191
Amounts repaid (48,811 ) (34,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,917 (110 )

Loans are unsecured, interest free and repayable on demand.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £251,335 (2023 - £204,050) were paid to the directors .

During the year, the company rented the directors personal residence under a Licence to Occupy agreement for £3,316. (2023 £3,316).