Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-3144522023-08-01falseNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.26false27truetrue 03532634 2023-08-01 2024-07-31 03532634 2022-08-01 2023-07-31 03532634 2024-07-31 03532634 2023-07-31 03532634 c:Director1 2023-08-01 2024-07-31 03532634 d:Buildings d:ShortLeaseholdAssets 2023-08-01 2024-07-31 03532634 d:Buildings d:ShortLeaseholdAssets 2024-07-31 03532634 d:Buildings d:ShortLeaseholdAssets 2023-07-31 03532634 d:LandBuildings 2024-07-31 03532634 d:LandBuildings 2023-07-31 03532634 d:PlantMachinery 2023-08-01 2024-07-31 03532634 d:PlantMachinery 2024-07-31 03532634 d:PlantMachinery 2023-07-31 03532634 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03532634 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 03532634 d:MotorVehicles 2023-08-01 2024-07-31 03532634 d:MotorVehicles 2024-07-31 03532634 d:MotorVehicles 2023-07-31 03532634 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03532634 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 03532634 d:FurnitureFittings 2023-08-01 2024-07-31 03532634 d:FurnitureFittings 2024-07-31 03532634 d:FurnitureFittings 2023-07-31 03532634 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03532634 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 03532634 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03532634 d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 03532634 d:CurrentFinancialInstruments 2024-07-31 03532634 d:CurrentFinancialInstruments 2023-07-31 03532634 d:Non-currentFinancialInstruments 2024-07-31 03532634 d:Non-currentFinancialInstruments 2023-07-31 03532634 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 03532634 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 03532634 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 03532634 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 03532634 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-31 03532634 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 03532634 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-07-31 03532634 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 03532634 d:ShareCapital 2024-07-31 03532634 d:ShareCapital 2023-07-31 03532634 d:RetainedEarningsAccumulatedLosses 2024-07-31 03532634 d:RetainedEarningsAccumulatedLosses 2023-07-31 03532634 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 03532634 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 03532634 d:TaxLossesCarry-forwardsDeferredTax 2024-07-31 03532634 d:TaxLossesCarry-forwardsDeferredTax 2023-07-31 03532634 d:RetirementBenefitObligationsDeferredTax 2024-07-31 03532634 d:RetirementBenefitObligationsDeferredTax 2023-07-31 03532634 c:OrdinaryShareClass1 2023-08-01 2024-07-31 03532634 c:OrdinaryShareClass1 2024-07-31 03532634 c:OrdinaryShareClass1 2023-07-31 03532634 c:FRS102 2023-08-01 2024-07-31 03532634 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 03532634 c:FullAccounts 2023-08-01 2024-07-31 03532634 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03532634 2 2023-08-01 2024-07-31 03532634 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-07-31 03532634 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-07-31 03532634 d:LeasedAssetsHeldAsLessee 2024-07-31 03532634 d:LeasedAssetsHeldAsLessee 2023-07-31 03532634 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 03532634









PHOENIX TAVINOR ENGINEERING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
PHOENIX TAVINOR ENGINEERING LIMITED
REGISTERED NUMBER: 03532634

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,137,671
1,397,114

  
1,137,671
1,397,114

Current assets
  

Stocks
 5 
41,795
104,787

Debtors: amounts falling due within one year
 6 
1,036,468
1,007,654

Cash at bank and in hand
  
70,028
7,602

  
1,148,291
1,120,043

Creditors: amounts falling due within one year
 7 
(611,565)
(610,497)

Net current assets
  
 
 
536,726
 
 
509,546

Total assets less current liabilities
  
1,674,397
1,906,660

Creditors: amounts falling due after more than one year
 8 
(203,522)
(394,472)

Provisions for liabilities
  

Deferred tax
 10 
(92,673)
(106,982)

  
 
 
(92,673)
 
 
(106,982)

Net assets
  
1,378,202
1,405,206


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
1,378,102
1,405,106

  
1,378,202
1,405,206


Page 1

 
PHOENIX TAVINOR ENGINEERING LIMITED
REGISTERED NUMBER: 03532634
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 April 2025.




V N Tavinor
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
PHOENIX TAVINOR ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Phoenix Tavinor Engineering Limited (the Company) is a private company, limited by shares, incorporated and domiciled in England under company number 03532634. The address of the registered office is Sterling House, 71 Francis Road, Edgbaston, Birmingham, B16 8SP.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts are prepared on the going concern basis.

Page 3

 
PHOENIX TAVINOR ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- he costs incurred and the costs to complete the contract can be measured reliably.
Rental income
Turnover from the rental of property is recognised when all the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive consideration due for the rental of properties; 
- the period of rent can be measured reliably; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 
PHOENIX TAVINOR ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
PHOENIX TAVINOR ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and the reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
straight line basis
Plant and machinery
-
10%
straight line basis
Motor vehicles
-
25%
reducing balance basis
Fixtures and fittings
-
25%
reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
PHOENIX TAVINOR ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
26
27

Page 7

 
PHOENIX TAVINOR ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 August 2023
109,902
4,932,910
148,452
164,396
5,355,660


Additions
5,950
4,072
-
4,474
14,496



At 31 July 2024

115,852
4,936,982
148,452
168,870
5,370,156



Depreciation


At 1 August 2023
91,847
3,577,449
139,966
149,284
3,958,546


Charge for the year on owned assets
4,452
158,643
2,176
4,964
170,235


Charge for the year on financed assets
-
103,704
-
-
103,704



At 31 July 2024

96,299
3,839,796
142,142
154,248
4,232,485



Net book value



At 31 July 2024
19,553
1,097,186
6,310
14,622
1,137,671



At 31 July 2023
18,055
1,355,461
8,486
15,112
1,397,114




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Short leasehold
19,553
18,055

19,553
18,055


Page 8

 
PHOENIX TAVINOR ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
675,399
779,103

675,399
779,103


5.


Stocks

2024
2023
£
£

Raw materials and consumables
41,795
104,787

41,795
104,787



6.


Debtors

2024
2023
£
£


Trade debtors
557,011
541,015

Amounts owed by group undertakings
260,920
259,545

Other debtors
108,878
101,076

Prepayments and accrued income
109,659
106,018

1,036,468
1,007,654


Page 9

 
PHOENIX TAVINOR ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
290,259
291,877

Other taxation and social security
66,079
56,813

Obligations under finance lease and hire purchase contracts
166,299
191,799

Other creditors
10,348
8,496

Accruals and deferred income
68,580
51,512

611,565
610,497



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,334
18,333

Net obligations under finance leases and hire purchase contracts
184,918
351,217

Accruals and deferred income
10,270
24,922

203,522
394,472


The following liabilities were secured:

2024
2023
£
£



Net obligations under finance leases and hire purchase contracts
351,217
543,016

351,217
543,016

Details of security provided:

Net obilgations under finance leases and hire purchase contracts are secured over the asset to which the contract relates.

Page 10

 
PHOENIX TAVINOR ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
8,334
10,000


8,334
10,000

Amounts falling due 2-5 years

Bank loans
-
8,334


-
8,334


18,334
28,334



10.


Deferred taxation




2024


£






At beginning of year
(106,982)


Utilised in year
14,308



At end of year
(92,674)

Page 11

 
PHOENIX TAVINOR ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(174,418)
(210,631)

Tax losses carried forward
81,885
103,698

Pension surplus
(140)
(49)

(92,673)
(106,982)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. Contributions totalling £1,680 (2023 - £588) were payable to the fund at the balance sheet date and are included in creditors.


13.Other financial commitments

The company has total commitments at the balance sheet date of £595,000 (2023 - £765,000).


14.


Transactions with directors

Included in debtors is £85,357 (2023 - £78,888) owed by the director. The maximum amount outstanding during the year was £85,357.  The loan is unsecured and repayable on demand.


15.


Controlling party

The ultimate and immediate parent company is Phoenix Tavinor Engineering (Holdings) Limited a company registered in England and Wales. The registered office of the parent company is Sterling House, 71 Francis Road, Edgbaston, Birmingham, West Midlands, B16 8SP.

 
Page 12