IRIS Accounts Production v24.3.2.46 08516821 Board of Directors 1.3.23 29.2.24 29.2.24 Medium entities creating and installing children's outdoor play equipment. true false true true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh085168212023-02-28085168212024-02-29085168212023-03-012024-02-29085168212022-02-28085168212022-03-012023-02-28085168212023-02-2808516821ns15:EnglandWales2023-03-012024-02-2908516821ns14:PoundSterling2023-03-012024-02-2908516821ns10:Director12023-03-012024-02-2908516821ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2908516821ns10:MediumEntities2023-03-012024-02-2908516821ns10:Audited2023-03-012024-02-2908516821ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-03-012024-02-2908516821ns10:Medium-sizedCompaniesRegimeForAccounts2023-03-012024-02-2908516821ns10:FullAccounts2023-03-012024-02-2908516821ns5:JointVenture12023-03-012024-02-2908516821ns10:Director22023-03-012024-02-2908516821ns10:RegisteredOffice2023-03-012024-02-290851682112023-03-012024-02-2908516821ns10:Director32023-03-012024-02-2908516821ns10:Director42023-03-012024-02-2908516821ns5:CurrentFinancialInstruments2024-02-2908516821ns5:CurrentFinancialInstruments2023-02-2808516821ns5:Non-currentFinancialInstruments2024-02-2908516821ns5:Non-currentFinancialInstruments2023-02-2808516821ns5:ShareCapital2024-02-2908516821ns5:ShareCapital2023-02-2808516821ns5:RetainedEarningsAccumulatedLosses2024-02-2908516821ns5:RetainedEarningsAccumulatedLosses2023-02-2808516821ns5:ShareCapital2022-02-2808516821ns5:RetainedEarningsAccumulatedLosses2022-02-2808516821ns5:RetainedEarningsAccumulatedLosses2022-03-012023-02-2808516821ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-2908516821ns5:PlantMachinery2023-03-012024-02-2908516821ns5:FurnitureFittings2023-03-012024-02-2908516821ns5:MotorVehicles2023-03-012024-02-2908516821ns5:ComputerEquipment2023-03-012024-02-2908516821ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-03-012024-02-2908516821ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-03-012023-02-2808516821ns5:OwnedAssets2023-03-012024-02-2908516821ns5:OwnedAssets2022-03-012023-02-2808516821ns5:LeasedAssets2023-03-012024-02-2908516821ns5:LeasedAssets2022-03-012023-02-2808516821ns5:HirePurchaseContracts2023-03-012024-02-2908516821ns5:HirePurchaseContracts2022-03-012023-02-2808516821ns5:PlantMachinery2023-02-2808516821ns5:FurnitureFittings2023-02-2808516821ns5:MotorVehicles2023-02-2808516821ns5:ComputerEquipment2023-02-2808516821ns5:PlantMachinery2024-02-2908516821ns5:FurnitureFittings2024-02-2908516821ns5:MotorVehicles2024-02-2908516821ns5:ComputerEquipment2024-02-2908516821ns5:PlantMachinery2023-02-2808516821ns5:FurnitureFittings2023-02-2808516821ns5:MotorVehicles2023-02-2808516821ns5:ComputerEquipment2023-02-2808516821ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2808516821ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-012024-02-2908516821ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-02-2908516821ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2808516821ns5:AdditionsToInvestments2024-02-2908516821ns5:CostValuation2024-02-2908516821ns5:JointVenture112023-03-012024-02-29085168212ns5:JointVenture12023-03-012024-02-2908516821ns5:JointVenture12024-02-2908516821ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2908516821ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2808516821ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-02-2908516821ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-02-2808516821ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-02-2908516821ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-02-2808516821ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-02-2908516821ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-02-2808516821ns5:HirePurchaseContracts2024-02-2908516821ns5:HirePurchaseContracts2023-02-2808516821ns5:WithinOneYear2024-02-2908516821ns5:WithinOneYear2023-02-2808516821ns5:BetweenOneFiveYears2024-02-2908516821ns5:BetweenOneFiveYears2023-02-2808516821ns5:AllPeriods2024-02-2908516821ns5:AllPeriods2023-02-2808516821ns5:DeferredTaxation2023-02-2808516821ns5:DeferredTaxation2023-03-012024-02-2908516821ns5:DeferredTaxation2024-02-2908516821ns5:RetainedEarningsAccumulatedLosses2023-02-28085168211ns10:Director12023-02-28085168211ns10:Director12022-02-28085168211ns10:Director12023-03-012024-02-29085168211ns10:Director12022-03-012023-02-28085168211ns10:Director12024-02-29085168211ns10:Director12023-02-28
REGISTERED NUMBER: 08516821 (England and Wales)








STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PHOENIX PLAY LIMITED

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 17


PHOENIX PLAY LIMITED
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: J Collis-Pritchard
S Flatman





REGISTERED OFFICE: 6 Orpen Park
Ash Ridge Road
Bradley Stoke
Bristol
Gloucestershire
BS32 4QD





REGISTERED NUMBER: 08516821 (England and Wales)





AUDITORS: Carter & Coley Limited
Chartered Accountants and Statutory Auditor
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

STRATEGIC REPORT
FOR THE YEAR ENDED 29 FEBRUARY 2024


The directors present their strategic report for the year ended 29 February 2024.

Introduction: Phoenix Play Limited, formerly known as Pentagon Sport (South) Ltd has long been an established name known for delivering play and learning development services to Schools, Nurseries and Commercial settings. As part of our ongoing growth and commitment to innovation, we are excited to announce a rebranding initiative that will better align our identity with the evolving needs of our customers, while staying true to the core values that have been the foundation of our business for over 12 years.

REVIEW OF BUSINESS
1. Vision, Mission, and Core Values:

- Vision: To be the leading provider of play and learning environments and inspire a love for investigative learning and physical activity, foster development, and achieve success.

- Mission: Our mission is to provide inspirational products, unrivalled customer service, and a comprehensive range of services that meet the diverse needs of our clients in the educational and commercial markets.

- Core Values: These are incorporated in our 'Rules of Play' and see us working with colleagues, customers and suppliers in a collaborative and trustworthy ways.

2. Market Overview : During the financial year 2024 the education market was settling after the post pandemic resurgence and many settings also had budget challenges due to the teacher strikes and uncertainty over ongoing costs. This caused many delays to developments and during that time we were delighted to develop so many wonderful play environments. Additionally, the growing emphasis on children's well-being and sports development offers significant opportunities to further expand its footprint in public parks, and commercial sectors.

3. Company Performance Analysis

3.1 Financial Performance - The company has demonstrated consistent revenue growth over the past five years (save for Covid effected 21 FY). The company has successfully maintained a robust balance sheet, with strong profit margins, indicative of effective cost management and an efficient operational model. Operating expenses, including materials and labour, have been well-controlled, and the company has implemented cost-effective procurement strategies that help maintain competitive pricing. However, rising raw material costs due to global supply inflationary pressures are something the company needs to be mindful of.

3.2 Market Positioning - The company has positioned itself as a trusted partner to many customers within the Industry. Its primary differentiation factors include product quality, customer service, and design innovation. The reputation for providing safe, durable, and compliant products has led to a loyal customer base and being able to secure regular returning custom. The reputation it has built will be further enhanced and developed in the rebranding initiative to follow.

3.3 Key Performance Indicator - The company refers to its gross profit margin as the key driver of the business. The GP% for 2024 was 39.3% (2023 - 39.2%). The directors are confident that the margin for 2025 will remain close to 40%.


PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

STRATEGIC REPORT
FOR THE YEAR ENDED 29 FEBRUARY 2024

PRINCIPAL RISKS AND UNCERTAINTIES
4. Risk Analysis - Several risks could potentially impact the company's overall performance and our awareness of them helps us plan to mitigate accordingly:-

- Economic Fluctuations: Economic downturns, increased inflation, and changes in public spending could impact budgets for schools and local authorities, which may lead to delayed or reduced spending on play equipment.

- Supply Chain Disruptions: Ongoing global supply chain disruptions could affect the availability and cost of raw materials, which may impact product pricing and project timelines.

- Competition: The market for play equipment is competitive, with both established players and new entrants vying for market share. The Company must continue to differentiate itself through innovation, quality, and customer service whilst keeping it's core values and ethos at the forefront of all they do.

5. Summary - The Company is well-positioned to build on its existing strengths and explore new opportunities in a dynamic market we are very familiar with. By focusing on expanding into new geographic regions, driving product innovation, and enhancing the customer experience, the company can continue its trajectory of growth. The company's emphasis on sustainability and customer satisfaction will allow it to maintain its competitive advantage in the years to come. Alongside this the rebranding of the company represents a bold step forward as we continue to grow and adapt. By remaining true to our core beliefs, we will continually develop a brand that is both timeless and forward-thinking. Our customers can expect the same dedication to excellence they have always known, with an enhanced experience that reflects our commitment to their play opportunities.

ON BEHALF OF THE BOARD:





J Collis-Pritchard - Director


1 April 2025

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 29 FEBRUARY 2024


The directors present their report with the financial statements of the company for the year ended 29 February 2024.

CHANGE OF NAME
The company passed a special resolution on 24 March 2025 changing its name from Pentagon Sport (South) Limited to Phoenix Play Limited.

DIVIDENDS
29/02/2024 28/02/2023
£ £
Ordinary B shares of £1 each
Interim 539,000 111,000
Ordinary D shares of £1 each
Interim 16,667
Ordinary F shares of £1 each
Interim 2,000 1,200
Ordinary G shares of £1 each
Interim 50,000 50,000
Ordinary H shares of £1 each
Interim 32,750 19,500
Ordinary I shares of £1 each
Interim 7,400 2,000
Ordinary J shares of £1 each
Interim 5,500 1,900

636,650 202,267

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2023 to the date of this report.

J Collis-Pritchard
S Flatman

Other changes in directors holding office are as follows:

M R Bischof and A Snell ceased to be directors after 29 February 2024 but prior to the date of this report.


PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 29 FEBRUARY 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Carter & Coley Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J Collis-Pritchard - Director


1 April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PHOENIX PLAY LIMITED
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED


Opinion
We have audited the financial statements of Phoenix Play Limited (the 'company') for the year ended 29 February 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 29 February 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PHOENIX PLAY LIMITED
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED


Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PHOENIX PLAY LIMITED
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our audit testing included testing complete populations of certain transactions and balances, and using data auditing techniques.

Our audit procedures comprise investigating a limited number of items for testing, rather than testing complete populations.

We based our audit samples following a comprehensive audit plan after reviewing the accounts and discussing them with the directors. The level of testing will then be based on our observations of controls and responses with the work targeting particular items for testing based on their size or risk characteristics.

In other cases, we used audit sampling to enable us to draw a conclusion about the population from which the sample is selected.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Other matters which we are required to address
We were not appointed as auditors until after the year end and accordingly we did not attend the stocktake.

The previous year's financial statements were not audited.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PHOENIX PLAY LIMITED
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Andrew A Clark FCA (Senior Statutory Auditor)
for and on behalf of Carter & Coley Limited
Chartered Accountants and Statutory Auditor
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

1 April 2025

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 29 FEBRUARY 2024

2024 2023
Notes £    £   

TURNOVER 12,073,679 10,832,106

Cost of sales 7,326,077 6,588,112
GROSS PROFIT 4,747,602 4,243,994

Administrative expenses 4,105,770 3,462,363
641,832 781,631

Other operating income 3,870 153,207
OPERATING PROFIT 4 645,702 934,838

Interest receivable and similar income 27,183 2,897
672,885 937,735

Interest payable and similar expenses 5 8,680 8,338
PROFIT BEFORE TAXATION 664,205 929,397

Tax on profit 6 170,747 138,428
PROFIT FOR THE FINANCIAL
YEAR

493,458

790,969

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

493,458

790,969

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 464,002 489,018
Investments 9 1 -
464,003 489,018

CURRENT ASSETS
Stocks 10 436,647 635,619
Debtors 11 1,314,427 2,451,770
Prepayments and accrued income 326,517 774,093
Cash at bank 1,946,496 1,437,065
4,024,087 5,298,547
CREDITORS
Amounts falling due within one year 12 2,227,406 3,307,412
NET CURRENT ASSETS 1,796,681 1,991,135
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,260,684

2,480,153

CREDITORS
Amounts falling due after more than one
year

13

(122,421

)

(192,585

)

PROVISIONS FOR LIABILITIES 17 (114,360 ) (120,473 )
NET ASSETS 2,023,903 2,167,095

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

BALANCE SHEET - continued
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 18 200 200
Retained earnings 19 2,023,703 2,166,895
SHAREHOLDERS' FUNDS 2,023,903 2,167,095


The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:





J Collis-Pritchard - Director


PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 March 2022 200 1,578,193 1,578,393

Changes in equity
Dividends - (202,267 ) (202,267 )
Total comprehensive income - 790,969 790,969
Balance at 28 February 2023 200 2,166,895 2,167,095

Changes in equity
Dividends - (636,650 ) (636,650 )
Total comprehensive income - 493,458 493,458
Balance at 29 February 2024 200 2,023,703 2,023,903

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

CASH FLOW STATEMENT
FOR THE YEAR ENDED 29 FEBRUARY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,354,438 1,256,769
Interest paid (5,251 ) (5,960 )
Interest element of hire purchase
payments paid

(3,429

)

(2,378

)
Tax paid (174,979 ) (6,037 )
Net cash from operating activities 1,170,779 1,242,394

Cash flows from investing activities
Purchase of tangible fixed assets (127,389 ) (128,725 )
Purchase of fixed asset investments (1 ) -
Interest received 27,183 2,897
Net cash from investing activities (100,207 ) (125,828 )

Cash flows from financing activities
Loan repayments in year (50,000 ) (50,000 )
HP advances in year - 43,210
HP repayments in year (31,611 ) (20,088 )
Amount introduced by directors 414,757 114,363
Amount withdrawn by directors (257,637 ) (535,792 )
Equity dividends paid (636,650 ) (202,267 )
Net cash from financing activities (561,141 ) (650,574 )

Increase in cash and cash equivalents 509,431 465,992
Cash and cash equivalents at
beginning of year

2

1,437,065

971,073

Cash and cash equivalents at end of
year

2

1,946,496

1,437,065

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 664,205 929,397
Depreciation charges 147,806 139,199
Loss on disposal of fixed assets 4,600 -
Finance costs 8,680 8,338
Finance income (27,183 ) (2,897 )
798,108 1,074,037
Decrease/(increase) in stocks 198,972 (193,573 )
Decrease/(increase) in trade and other debtors 1,427,798 (869,842 )
(Decrease)/increase in trade and other creditors (1,070,440 ) 1,246,147
Cash generated from operations 1,354,438 1,256,769

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 29 February 2024
29/2/24 1/3/23
£    £   
Cash and cash equivalents 1,946,496 1,437,065
Year ended 28 February 2023
28/2/23 1/3/22
£    £   
Cash and cash equivalents 1,437,065 971,073


PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 29 FEBRUARY 2024


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/3/23 Cash flow At 29/2/24
£    £    £   
Net cash
Cash at bank 1,437,065 509,431 1,946,496
1,437,065 509,431 1,946,496
Debt
Finance leases (78,364 ) 31,611 (46,753 )
Debts falling due within 1 year (50,000 ) - (50,000 )
Debts falling due after 1 year (145,832 ) 50,000 (95,832 )
(274,196 ) 81,611 (192,585 )
Total 1,162,869 591,042 1,753,911

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Phoenix Play 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" 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.

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.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 15% on reducing balance
Computer equipment - 20% 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 Comprehensive Income, 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 PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 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.

Joint ventures
Entities in which the company holds an interest and which are jointly controlled by the company and one or more other venturers under a contractual arrangement are treated as joint ventures. In the company's financial statements, joint ventures are accounted for using the cost model.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,625,447 1,311,411
Social security costs 184,846 129,781
Other pension costs 85,192 24,956
1,895,485 1,466,148

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Staff 55 47

The directors have identified six staff who are key employees in the company. Their remuneration including salary, employers NI and Pension total £342,588.

2024 2023
£    £   
Directors' remuneration 82,573 81,989

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 125,226 251,594
Other operating leases 121,655 147,748
Depreciation - owned assets 126,152 123,841
Depreciation - assets on hire purchase contracts 21,653 15,359
Loss on disposal of fixed assets 4,600 -
Auditors' remuneration 13,750 -
Foreign exchange differences 5,836 4,886

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 5,251 5,960
Hire purchase 3,429 2,378
8,680 8,338

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 176,860 97,076

Deferred tax (6,113 ) 41,352
Tax on profit 170,747 138,428

7. DIVIDENDS

Interim dividends were paid during the year of £636,650 (2023 £202,267).

8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 336,086 123,497 261,345 172,860 893,788
Additions 20,556 2,173 75,360 29,300 127,389
Disposals - - (4,600 ) - (4,600 )
At 29 February 2024 356,642 125,670 332,105 202,160 1,016,577
DEPRECIATION
At 1 March 2023 131,637 82,059 68,654 122,420 404,770
Charge for year 42,604 21,185 61,066 22,950 147,805
At 29 February 2024 174,241 103,244 129,720 145,370 552,575
NET BOOK VALUE
At 29 February 2024 182,401 22,426 202,385 56,790 464,002
At 28 February 2023 204,449 41,438 192,691 50,440 489,018

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. 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 March 2023
and 29 February 2024 155,370
DEPRECIATION
At 1 March 2023 31,597
Charge for year 21,653
At 29 February 2024 53,250
NET BOOK VALUE
At 29 February 2024 102,120
At 28 February 2023 123,773

9. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
Additions 1
At 29 February 2024 1
NET BOOK VALUE
At 29 February 2024 1

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


9. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

Pentagon+ Limited
Registered office: Unit 1 Aston Way, Middlewich, Cheshire, CW10 0HS
Nature of business: Administrative services
%
Class of shares: holding
A
B 100.00
2024
£   
Aggregate capital and reserves (8,024 )
Loss for the year (8,026 )

10. STOCKS
2024 2023
£    £   
Stocks 436,647 635,619

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 831,021 1,701,008
Other debtors 33,576 35,191
Directors' current accounts 257,637 414,757
Prepayments 192,193 300,814
1,314,427 2,451,770

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 50,000 50,000
Hire purchase contracts (see note 15) 20,164 31,611
Trade creditors 742,734 1,162,212
Corporation tax 176,960 175,079
Social security and other taxes 60,895 83,416
VAT 201,222 321,925
Other creditors 594,395 383,341
Accruals and deferred income 381,036 1,099,828
2,227,406 3,307,412

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans (see note 14) 95,832 145,832
Hire purchase contracts (see note 15) 26,589 46,753
122,421 192,585

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 50,000 50,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 95,832 145,832

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 20,164 31,611
Between one and five years 26,589 46,753
46,753 78,364

Non-cancellable operating leases
2024 2023
£    £   
Within one year 70,245 130,838
Between one and five years 1,602 75,517
71,847 206,355

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 46,753 78,364

The bank loan is guaranteed by the Government under the CBILS loan scheme.

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 114,360 120,473

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


17. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2023 120,473
Provided during year (6,113 )
Balance at 29 February 2024 114,360

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:


Number

Class
Nominal
Value

29/02/2024

28/02/2023
36 Ordinary A £1 36 36
36 Ordinary B £1 36 36
10 Ordinary C £1 10 10
15 Ordinary D £1 15 15
98 Ordinary E £1 98 98
1 Ordinary F £1 1 1
1 Ordinary G £1 1 1
1 Ordinary H £1 1 1
1 Ordinary I £1 1 1
1 Ordinary J £1 1 1

200 200

Since the year end the E shares have been purchased by the company. These shares held no rights to profit distribution only rights to capital distribution in the event of a sale. Given the restricted nature of these shares the sum paid represented fair value.

19. RESERVES
Retained
earnings
£   

At 1 March 2023 2,166,895
Profit for the year 493,458
Dividends (636,650 )
At 29 February 2024 2,023,703

PHOENIX PLAY LIMITED (REGISTERED NUMBER: 08516821)
PREVIOUSLY KNOWN AS PENTAGON SPORT (SOUTH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
J Collis-Pritchard
Balance outstanding at start of year 414,757 (6,672 )
Amounts advanced 257,637 535,792
Amounts repaid (414,757 ) (114,363 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 257,637 414,757

21. RELATED PARTY DISCLOSURES

The following transactions took place during the year with related parties.

Support services received from a company controlled by a director £103,306 (2023 - £108,004).

The amount included in creditors was £Nil (2023 £37,294).

Administration services received from a company controlled by two of the directors £922,701 (2023 - £1,377,796).

The amount included in creditors was £180,245 (2023 £273,472).

Support services supplied by a joint venture company £735,296 (2023 - £nil).

The amount included in creditors was £21,446 (2023 £Nil).