Company Registration No. 10666774 (England and Wales)
Phoenix Quarter 163 Limited
Unaudited accounts
for the year ended 31 March 2025
Phoenix Quarter 163 Limited
Unaudited accounts
Contents
Phoenix Quarter 163 Limited
Company Information
for the year ended 31 March 2025
Director
Jagjit Singh Johal
Company Number
10666774 (England and Wales)
Registered Office
The Whinnies, Church Road
Hartley
Longfield
DA3 8DJ
United Kingdom
Accountants
Workabee Accountants
Sharon Gillett BSc FCA
11 Chestnut Avenue
Buckhurst Hill
Essex
IG9 6EN
Phoenix Quarter 163 Limited
Statement of financial position
as at 31 March 2025
Investment property
510,000
500,000
Cash at bank and in hand
39,881
38,326
Creditors: amounts falling due within one year
(84,248)
(84,468)
Net current liabilities
(33,394)
(35,228)
Total assets less current liabilities
476,606
464,772
Creditors: amounts falling due after more than one year
(361,460)
(361,277)
Provisions for liabilities
Deferred tax
(29,054)
(26,240)
Called up share capital
1
1
Profit and loss account
86,091
77,254
Shareholders' funds
86,092
77,255
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 April 2025 and were signed on its behalf by
Jagjit Singh Johal
Director
Company Registration No. 10666774
Phoenix Quarter 163 Limited
Notes to the Accounts
for the year ended 31 March 2025
Phoenix Quarter 163 Limited is a private company, limited by shares, registered in England and Wales, registration number 10666774. The registered office is The Whinnies, Church Road, Hartley, Longfield, DA3 8DJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises of rental income and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost.
Fair value at 1 April 2024
500,000
Net gain from fair value adjustments
10,000
Valuation of properties is based on director valuations.
Phoenix Quarter 163 Limited
Notes to the Accounts
for the year ended 31 March 2025
Amounts falling due within one year
Accrued income and prepayments
563
438
Other debtors
10,410
10,476
6
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
27
27
Other creditors
1,730
1,730
Loans from directors
81,842
82,062
In the accounts for the year ended 31 March 2024, £16,408 in relation to bank loans (mortgage) was incorrectly classified as
an amount falling due within one year. The whole of the mortgage creditor should have been classified as falling due for
payment after five years. The amounts as at 31 March 2024 have been restated.
7
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
361,460
361,277
Aggregate of amounts that fall due for payment after five years
361,460
361,277
The bank loans (mortgage) are secured against the value of the investment property.
In the accounts for the year ended 31 March 2024, the whole amount in relation to bank loans (mortgage), being £361,277 should have been included in the aggregate of amounts that fall due for payment after five years. Instead the amounts were incorrectly split as £16,408 falling due within one year and £344,869 falling due after more than one year, with £279,239 falling due after five years. The amounts as at 31 March 2024 have been restated.
8
Deferred taxation
2025
2024
Revaluation of investment property
29,424
26,924
Tax losses carried forward
(370)
(684)
Provision at start of year
26,240
24,706
Charged to the profit and loss account
2,814
1,534
Provision at end of year
29,054
26,240
Phoenix Quarter 163 Limited
Notes to the Accounts
for the year ended 31 March 2025
9
Transactions with related parties
As at 31 March 2025, amounts owed to directors totalled £81,842 (2024: £82,062).
No interest is charged on money owed and the amounts are repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).