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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
Page
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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
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Phoenix Quarter 163 Limited Statement of financial position as at 31 March 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Investment property
510,000 
500,000 
Current assets
Debtors
10,973 
10,914 
Cash at bank and in hand
39,881 
38,326 
50,854 
49,240 
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)
Net assets
86,092 
77,255 
Capital and reserves
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
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Phoenix Quarter 163 Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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.
Financial instruments
Basic financial instruments are recognised at amortised cost.
4
Investment property
2025 
£ 
Fair value at 1 April 2024
500,000 
Net gain from fair value adjustments
10,000 
At 31 March 2025
510,000 
Valuation of properties is based on director valuations.
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Phoenix Quarter 163 Limited Notes to the Accounts for the year ended 31 March 2025
5
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
563 
438 
Other debtors
10,410 
10,476 
10,973 
10,914 
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 
Accruals
210 
210 
Deferred income
439 
439 
84,248 
84,468 
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)
29,054 
26,240 
2025 
2024 
£ 
£ 
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 
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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).
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