REGISTERED NUMBER: 06686712 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Phoenix Specialist Contracting Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D A R MacQuarrie

Mr D Gedling

REGISTERED OFFICE:

The Stable Yard

25-33 Vicarage Road

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1BN

REGISTERED NUMBER:

06686712 (England and Wales)

ACCOUNTANTS:

Connolly Accountants & Business Advisors Ltd

Chartered Certified Accountants

The Stable Yard

25-33 Vicarage Road

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1BN

FIXED ASSETS

Tangible assets

4

35,326

39,494

CURRENT ASSETS

Stocks

25,000

30,000

Debtors

5

680,866

881,670

Cash at bank

329,330

388,784

1,035,196

1,300,454

CREDITORS

Amounts falling due within one year

6

470,840

625,204

NET CURRENT ASSETS

564,356

675,250

TOTAL ASSETS LESS CURRENT LIABILITIES

599,682

714,744

PROVISIONS FOR LIABILITIES

8,831

9,874

NET ASSETS

590,851

704,870

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

590,751

704,770

SHAREHOLDERS' FUNDS

590,851

704,870

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Board of Directors and authorised for issue on 1 September 2025 and were signed on its behalf by:

Mr D A R MacQuarrie - Director

1.	STATUTORY INFORMATION

Phoenix Specialist Contracting Ltd 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.

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.

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 & machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

3 years

Stocks and contracts for services

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

Where the substance of a contract is that the contractual obligations are performed gradually over time,

revenue is recognised as contract activity progresses to reflect the partial performance of our contractual

obligations. The amount of revenue included reflects the accrual of the right to consideration as contract

activity progresses by reference to value of the work performed.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant &

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

174,056

1,035

14,676

189,767

Additions

11,770

-

2,954

14,724

At 31 December 2024

185,826

1,035

17,630

204,491

DEPRECIATION

At 1 January 2024

135,922

732

13,619

150,273

Charge for year

17,050

122

1,720

18,892

At 31 December 2024

152,972

854

15,339

169,165

NET BOOK VALUE

At 31 December 2024

32,854

181

2,291

35,326

At 31 December 2023

38,134

303

1,057

39,494

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

101,643

212,679

Amounts recoverable on contract

403,550

517,420

Other debtors

175,673

151,571

680,866

881,670

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

417,053

526,905

Taxation and social security

45,521

91,595

Other creditors

8,266

6,704

470,840

625,204

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

22,274

36,362

Between one and five years

8,995

21,877

31,269

58,239

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

£

Mr D A R MacQuarrie

Balance outstanding at start of year

-

9,000

Amounts repaid

-

(9,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-