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REGISTERED NUMBER: 01868924 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

PHOENIX COMPACTOR SERVICES LIMITED

PHOENIX COMPACTOR SERVICES LIMITED (REGISTERED NUMBER: 01868924)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHOENIX COMPACTOR SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr R Smith





REGISTERED OFFICE: 29 Rowan Walk
Eastwood
Leigh On Sea
Essex
SS9 5PN





REGISTERED NUMBER: 01868924 (England and Wales)





ACCOUNTANTS: Berry & Warren Ltd
Chartered Accountants
54 Thorpe Road
Norwich
Norfolk
NR1 1RY

PHOENIX COMPACTOR SERVICES LIMITED (REGISTERED NUMBER: 01868924)

BALANCE SHEET
31 MAY 2024

2024 2023
as restated
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 104,474 66,398

CURRENT ASSETS
Stocks 319,500 316,500
Debtors 5 271,331 656,410
Cash at bank 93,557 44,964
684,388 1,017,874
CREDITORS
Amounts falling due within one year 6 291,053 643,303
NET CURRENT ASSETS 393,335 374,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

497,809

440,969

CREDITORS
Amounts falling due after more than one
year

7

(54,681

)

(20,411

)

PROVISIONS FOR LIABILITIES (20,481 ) -
NET ASSETS 422,647 420,558

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 422,547 420,458
422,647 420,558

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 COMPACTOR SERVICES LIMITED (REGISTERED NUMBER: 01868924)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 13 May 2025 and were signed by:





Mr R Smith - Director


PHOENIX COMPACTOR SERVICES LIMITED (REGISTERED NUMBER: 01868924)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Phoenix Compactor Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The directors have considered the company's position at the time of signing the financial statements. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

Turnover
Turnover is measured at 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
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has accepted delivery of the goods.

Rendering of services
Turnover 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.

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.

Depreciation is provided on the following basis:

Land and buildings - 25% reducing balance
Plant and machinery - 25% reducing balance
Motor vehicles - 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 the Statement of Income and retained earnings.

PHOENIX COMPACTOR SERVICES LIMITED (REGISTERED NUMBER: 01868924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first in, first out method.

Debtors
Short term debtors are measured at transaction price, less any impairment.

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.

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.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

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.

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.

PHOENIX COMPACTOR SERVICES LIMITED (REGISTERED NUMBER: 01868924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

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 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 June 2023 19,169 176,479 218,207 413,855
Additions - - 78,665 78,665
Disposals - - (7,000 ) (7,000 )
At 31 May 2024 19,169 176,479 289,872 485,520
DEPRECIATION
At 1 June 2023 19,163 168,068 160,226 347,457
Charge for year 6 2,805 30,778 33,589
At 31 May 2024 19,169 170,873 191,004 381,046
NET BOOK VALUE
At 31 May 2024 - 5,606 98,868 104,474
At 31 May 2023 6 8,411 57,981 66,398

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 78,665
At 31 May 2024 78,665
DEPRECIATION
Charge for year 13,785
At 31 May 2024 13,785
NET BOOK VALUE
At 31 May 2024 64,880

PHOENIX COMPACTOR SERVICES LIMITED (REGISTERED NUMBER: 01868924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 193,779 598,388
Other debtors 53,412 31,233
Directors' current accounts 37 1,200
Prepayments 24,103 25,589
271,331 656,410

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 10,000 40,436
Hire purchase contracts 24,829 12,843
Trade creditors 187,946 510,405
Taxation 4,016 4,874
Social security and other taxes 2,695 32,265
Other creditors 52,645 33,890
Accrued expenses 8,922 8,590
291,053 643,303

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 833 10,411
Hire purchase contracts 43,848 -
54,681 20,411

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Hire purchase contracts 68,677 12,843

PHOENIX COMPACTOR SERVICES LIMITED (REGISTERED NUMBER: 01868924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
as restated
£    £   
Mr R Smith
Balance outstanding at start of year 1,200 -
Amounts advanced - 1,200
Amounts repaid (1,163 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37 1,200

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Maintenance Management Services (Rainham) Limited and its registered office is 29 Rowan Walk, Eastwood, Leigh On Sea, Essex, SS9 5PN.