Registered number
07127984
PhoenixTM Ltd
Unaudited Filleted Accounts
31 December 2024
PhoenixTM Ltd
Registered number: 07127984
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 7,665 10,642
Investments 5 23,091 23,091
30,756 33,733
Current assets
Stocks 243,151 238,002
Debtors 6 284,046 394,701
Investments held as current assets 7 1,255,391 617,611
Cash at bank and in hand 451,782 929,214
2,234,370 2,179,528
Creditors: amounts falling due within one year 8 (778,873) (837,856)
Net current assets 1,455,497 1,341,672
Net assets 1,486,253 1,375,405
Capital and reserves
Called up share capital 456 456
Share premium 6,649 6,649
Profit and loss account 1,479,148 1,368,300
Shareholders' funds 1,486,253 1,375,405
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Budden
Director
Approved by the board on 12 June 2025
PhoenixTM Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Office equipment over 3 to 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 8
3 Intangible fixed assets Goodwill
£
Cost
At 1 January 2024 10,130
At 31 December 2024 10,130
Amortisation
At 1 January 2024 10,130
At 31 December 2024 10,130
Net book value
At 31 December 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Office equipment Total
£ £ £
Cost
At 1 January 2024 25,825 38,255 64,080
Additions - 2,136 2,136
At 31 December 2024 25,825 40,391 66,216
Depreciation
At 1 January 2024 21,395 32,043 53,438
Charge for the year 1,781 3,332 5,113
At 31 December 2024 23,176 35,375 58,551
Net book value
At 31 December 2024 2,649 5,016 7,665
At 31 December 2023 4,430 6,212 10,642
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2024 23,091
At 31 December 2024 23,091
6 Debtors 2024 2023
£ £
Trade debtors 270,331 387,092
Other debtors 13,715 7,609
284,046 394,701
7 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 1,255,391 617,611
8 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 201,023 169,262
Taxation and social security costs 103,109 211,675
Other creditors 474,741 456,919
778,873 837,856
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 51,250 9,000
10 Other information
PhoenixTM Ltd is a private company limited by shares and incorporated in England. Its registered office is:
25 Earith Business Park
Meadow Drove
Earith
Cambridgeshire
PE28 3QF
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