Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-302025-05-13falsefalse2023-10-01falsethat of a community pharmacy.1413trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10979171 2023-10-01 2024-09-30 10979171 2022-10-01 2023-09-30 10979171 2024-09-30 10979171 2023-09-30 10979171 c:Director1 2023-10-01 2024-09-30 10979171 d:FurnitureFittings 2023-10-01 2024-09-30 10979171 d:FurnitureFittings 2024-09-30 10979171 d:FurnitureFittings 2023-09-30 10979171 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 10979171 d:Goodwill 2023-10-01 2024-09-30 10979171 d:Goodwill 2024-09-30 10979171 d:Goodwill 2023-09-30 10979171 d:CurrentFinancialInstruments 2024-09-30 10979171 d:CurrentFinancialInstruments 2023-09-30 10979171 d:CurrentFinancialInstruments 1 2024-09-30 10979171 d:CurrentFinancialInstruments 1 2023-09-30 10979171 d:Non-currentFinancialInstruments 2024-09-30 10979171 d:Non-currentFinancialInstruments 2023-09-30 10979171 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 10979171 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 10979171 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 10979171 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 10979171 d:ShareCapital 2024-09-30 10979171 d:ShareCapital 2023-09-30 10979171 d:RetainedEarningsAccumulatedLosses 2024-09-30 10979171 d:RetainedEarningsAccumulatedLosses 2023-09-30 10979171 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 10979171 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 10979171 c:FRS102 2023-10-01 2024-09-30 10979171 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 10979171 c:FullAccounts 2023-10-01 2024-09-30 10979171 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10979171 2 2023-10-01 2024-09-30 10979171 d:Goodwill d:OwnedIntangibleAssets 2023-10-01 2024-09-30 10979171 f:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 10979171










G&T PHOENIX LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
G&T PHOENIX LTD
REGISTERED NUMBER: 10979171

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
797,812
900,757

Tangible assets
 5 
116,784
154,622

  
914,596
1,055,379

Current assets
  

Stocks
  
287,238
335,724

Debtors: amounts falling due within one year
 6 
170,302
183,465

Bank and cash balances
  
1,407
5,168

  
458,947
524,357

Creditors: amounts falling due within one year
 7 
(693,908)
(636,504)

Net current liabilities
  
 
 
(234,961)
 
 
(112,147)

Total assets less current liabilities
  
679,635
943,232

Creditors: amounts falling due after more than one year
 8 
(1,157,011)
(1,192,237)

Provisions for liabilities
  

Deferred tax
  
(537)
(3,706)

  
 
 
(537)
 
 
(3,706)

Net liabilities
  
(477,913)
(252,711)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(478,013)
(252,811)

  
(477,913)
(252,711)


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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 income statement in accordance with provisions applicable to companies
Page 1

 
G&T PHOENIX LTD
REGISTERED NUMBER: 10979171
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

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 13 May 2025.




Mr Gajen Thanes
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
G&T PHOENIX LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

G&T Phoenix Ltd is a private company, limited by share capital, incorporated in England and Wales under company registration number 10979171. The registered office of the company is situated at 114 Harrowden Road, Bedford, MK42 0RU.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the assumption that the company will have the continued financial support of the shareholders. The shareholders of the company have sufficient resources to finance the company as and when the need arises. 
The financial statements have been prepared on a going concern basis which is dependent on the financial support of the shareholders to ensure that the company will continue in operational existence for the foreseeable future.

Page 3

 
G&T PHOENIX LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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
the costs incurred and the costs to complete the contract 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.

 
2.5

Interest income

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

 
2.6

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.

Page 4

 
G&T PHOENIX LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Borrowing costs

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

 
2.8

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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 reporting 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 reporting 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 reporting date.


Page 5

 
G&T PHOENIX LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Income statement over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

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

 
G&T PHOENIX LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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 reporting 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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 13).

Page 7

 
G&T PHOENIX LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Intangible assets



Goodwill

£



Cost


At 1 October 2023
1,029,436



At 30 September 2024

1,029,436



Amortisation


At 1 October 2023
128,680


Charge for the year on owned assets
102,944



At 30 September 2024

231,624



Net book value



At 30 September 2024
797,812



Page 8

 
G&T PHOENIX LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 October 2023
225,209


Additions
1,090



At 30 September 2024

226,299



Depreciation


At 1 October 2023
70,587


Charge for the year on owned assets
38,928



At 30 September 2024

109,515



Net book value



At 30 September 2024
116,784


6.


Debtors

2024
2023
£
£


Trade debtors
113,287
130,395

Rent deposits
24,738
24,738

Prepayments and accrued income
17,202
7,549

S455 tax recoverable
-
1,001

VAT repayable
15,075
19,782

170,302
183,465


Page 9

 
G&T PHOENIX LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
59,910
25,978

Bank loans
169,860
169,859

Trade creditors
196,488
282,330

Other creditors
212,000
131,079

Corporation tax
3,199
10,111

Wages and salaries payable
-
419

PAYE and NIC payable
50,480
16,096

Pension payable
819
632

Accruals and deferred income
1,152
-

693,908
636,504


The bank loans are comprised of loans secured through fixed and floating charge over all the property or undertaking of the company £161,874 (2023 - £161,873) and an unsecured bounce back loan £7,986 (2023 - £7,986).


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
966,309
1,004,862

Director loan account
190,702
187,375

1,157,011
1,192,237


The bank loans are comprised of loans secured through fixed and floating charge over all the property or undertaking of the company £960,007 (2023 - £991,668) and an unsecured bounce back loan £6,302 (2023 - £13,194).


9.


Deferred taxation




2024


£






At beginning of year
(3,706)


Charged to profit or loss
3,168



At end of year
(538)

Page 10

 
G&T PHOENIX LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
 
9.Deferred taxation (continued)

2024
2023
£
£


Accelerated capital allowances
(538)
(3,706)

(538)
(3,706)


10.


Controlling party

The company is under the control of the directors, Mr G Thanes (50%) and his spouse, Mrs G Thanes (50%), by virtue of the fact that between them they own 100% of the issued share capital.

 
Page 11