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REGISTERED NUMBER: 08022524 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

PHOENIX PROPERTIES (UK) LIMITED

PHOENIX PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08022524)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PHOENIX PROPERTIES (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: Mr C P Watson
Mrs K A Rousell





SECRETARY: Mrs K A Rousell





REGISTERED OFFICE: Unit 2 Plymouth Avenue
Brookhill Industrial Estate
Pinxton
Derbyshire
NG16 6RA





REGISTERED NUMBER: 08022524 (England and Wales)






PHOENIX PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08022524)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,433 353
Investment property 6 938,623 522,000
940,056 522,353

CURRENT ASSETS
Stocks 355,084 339,926
Debtors 7 2,043 1,967
Cash at bank 16,301 233,295
373,428 575,188
CREDITORS
Amounts falling due within one year 8 1,027,876 776,763
NET CURRENT LIABILITIES (654,448 ) (201,575 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

285,608

320,778

CREDITORS
Amounts falling due after more than one
year

9

(239,794

)

(239,794

)

PROVISIONS FOR LIABILITIES (39,631 ) (39,631 )
NET ASSETS 6,183 41,353

CAPITAL AND RESERVES
Called up share capital 11 1 1
Revaluation reserve 12 129,308 129,308
Retained earnings (123,126 ) (87,956 )
SHAREHOLDERS' FUNDS 6,183 41,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08022524)

BALANCE SHEET - continued
30TH SEPTEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th June 2025 and were signed on its behalf by:





Mr C P Watson - Director


PHOENIX PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08022524)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. STATUTORY INFORMATION

Phoenix Properties (UK) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

All fixed assets are initially recorded at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

PHOENIX PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08022524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


3. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st October 2023 2,808
Additions 1,346
At 30th September 2024 4,154
DEPRECIATION
At 1st October 2023 2,455
Charge for year 266
At 30th September 2024 2,721
NET BOOK VALUE
At 30th September 2024 1,433
At 30th September 2023 353

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023 522,000
Additions 416,623
At 30th September 2024 938,623
NET BOOK VALUE
At 30th September 2024 938,623
At 30th September 2023 522,000

The fair value of the investment property has been arrived at on the basis of a valuation by the director, which is carried out annually. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The historical cost of the freehold investment properties is £770,183 (2023: £353,559):

PHOENIX PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08022524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 518
Other debtors 2,043 1,449
2,043 1,967

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 925 -
Other creditors 1,026,951 776,763
1,027,876 776,763

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 239,794 239,794

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 239,794 239,794

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 239,794 239,794

Bank loans are secured by way of a mortgage on investment properties and are personally guaranteed by the director.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

12. RESERVES
Revaluation
reserve
£   
At 1st October 2023
and 30th September 2024 129,308

13. OTHER FINANCIAL COMMITMENTS

The company has given cross guarantees to banks and other financial institutions for other related companies' debts. The debt guaranteed at 30 September 2024 amounted to £362,317 (2023: £560,906).

PHOENIX PROPERTIES (UK) LIMITED (REGISTERED NUMBER: 08022524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


14. RELATED PARTY DISCLOSURES

Key management personnel of the entity or its parent (in the aggregate)
20242023
££
Sales-6,000

Other related parties
20242023
££
Sales11,760-
Interest payable41,52827,151
Work in progress additions1,140-
Trade creditors payable1,140-
Amounts due to related party1,021,656772,688

The amounts due to other related parties are unsecured, with interest charged at the Bank of England interest rate less 0.5% and there are no fixed dates of repayment.