REGISTERED NUMBER: 02608547 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2024

for

Phoenix (Leicester) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S G Blyth

S W Blyth

S Blyth

D J Quilter

R Walker

REGISTERED OFFICE:

Phoenix House, Unit 16

Marlow Road Industrial Estate

Marlow Road

Leicester

Leicestershire

LE3 2BQ

REGISTERED NUMBER:

02608547 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

113,763

115,190

CURRENT ASSETS

Stocks

30,000

20,000

Debtors

5

479,742

337,977

Cash at bank and in hand

17,600

19,323

527,342

377,300

CREDITORS

Amounts falling due within one year

6

(493,515

)

(344,455

)

NET CURRENT ASSETS

33,827

32,845

TOTAL ASSETS LESS CURRENT LIABILITIES

147,590

148,035

CREDITORS

Amounts falling due after more than one year

7

(50,800

)

(74,424

)

PROVISIONS FOR LIABILITIES

-

(7,423

)

NET ASSETS

96,790

66,188

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

96,690

66,088

SHAREHOLDERS' FUNDS

96,790

66,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 18 February 2025 and were signed on its behalf by:

S Blyth - Director

1.	STATUTORY INFORMATION

Phoenix (Leicester) 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, 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.

Plant and machinery

-

12.5% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowances for obsolete and slow moving items.

Cost is calculated using first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

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.

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.

Government grants

Government Grants receivable in relation to expenditure is recognised when the expenditure is charged to the profit and loss.

Hire purchase and leasing commitments

Assets obtained under the 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2023

50,041

3,494

259,469

10,524

323,528

Additions

1,742

-

61,500

1,160

64,402

Disposals

-

-

(76,409

)

-

(76,409

)

At 31 August 2024

51,783

3,494

244,560

11,684

311,521

DEPRECIATION

At 1 September 2023

31,081

2,460

166,569

8,228

208,338

Charge for year

4,938

641

24,768

1,532

31,879

Eliminated on disposal

-

-

(42,459

)

-

(42,459

)

At 31 August 2024

36,019

3,101

148,878

9,760

197,758

NET BOOK VALUE

At 31 August 2024

15,764

393

95,682

1,924

113,763

At 31 August 2023

18,960

1,034

92,900

2,296

115,190

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Trade debtors

477,998

293,511

Other debtors

1,744

44,466

479,742

337,977

Included in other debtors are prepayments of £Nil (2023: £2,000).

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Bank loans and overdrafts

104,354

107,941

Hire purchase contracts

16,900

22,456

Trade creditors

284,538

166,942

Taxation and social security

66,672

25,878

Other creditors

21,051

21,238

493,515

344,455

Included in other creditors are accruals of £14,890 (2023: £14,644).

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.24

31.8.23

£

£

Bank loans

7,495

17,500

Hire purchase contracts

43,305

56,924

50,800

74,424

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

4,136

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.24

31.8.23

£

£

Hire purchase contracts

60,205

79,380

Hire purchase liabilities are secured on the individual assets being so acquired.

9.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £96,760 (2023: £8,485).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24

31.8.23

£

£

S G Blyth

Balance outstanding at start of year

-

-

Amounts advanced

9,056

-

Amounts repaid

(9,056

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The loan was interest free and repayable on demand.