Company No: SC583809 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	2,999		0
Tangible assets	4	47,314		85,662
		50,313		85,662
Current assets
Stocks	5	14,100		14,100
Debtors
- due within one year	6	553,909		36,932
- due after more than one year	6	500,000		0
Cash at bank and in hand	7	582,184		1,764,344
		1,650,193		1,815,376
Creditors: amounts falling due within one year	8	( 299,672)		( 403,981)
Net current assets		1,350,521		1,411,395
Total assets less current liabilities		1,400,834		1,497,057
Provision for liabilities	9	0		( 244)
Net assets		1,400,834		1,496,813
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		1,400,734		1,496,713
Total shareholder's funds		1,400,834		1,496,813

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Phoenix Culture Communication Company Ltd (registered number: SC583809) were approved and authorised for issue by the Director on 22 September 2025. They were signed on its behalf by:

Glynis Elizabeth Anne Sinclair Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Phoenix Culture Communication Company Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael Bishop's Court, 29 Albyn Place, Aberdeen, AB10 1YL, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Donation income is recognised as consideration provided freely to the company without any obligation to provide any goods, services or repayment in return.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	10 years straight line
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 cost 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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 cost, 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	6		4

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 January 2024	0		0
Additions	3,460		3,460
At 31 December 2024	3,460		3,460
Accumulated amortisation
At 01 January 2024	0		0
Charge for the financial year	461		461
At 31 December 2024	461		461
Net book value
At 31 December 2024	2,999		2,999
At 31 December 2023	0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 January 2024	10,179		4,899		80,245		25,718		121,041
Disposals	0		0		( 43,250)		0		( 43,250)
At 31 December 2024	10,179		4,899		36,995		25,718		77,791
Accumulated depreciation
At 01 January 2024	848		2,340		22,005		10,186		35,379
Charge for the financial year	1,018		640		13,040		3,883		18,581
Disposals	0		0		( 23,483)		0		( 23,483)
At 31 December 2024	1,866		2,980		11,562		14,069		30,477
Net book value
At 31 December 2024	8,313		1,919		25,433		11,649		47,314
At 31 December 2023	9,331		2,559		58,240		15,532		85,662

5. Stocks

	2024		2023
	£		£
Stocks	14,100		14,100

6. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	0		36,932
Amounts owed by related parties	526,109		0
Corporation tax	25,928		0
Other debtors	1,872		0
	553,909		36,932
Debtors: amounts falling due after more than one year
Other debtors	500,000		0

Included in other debtors is a loan due from 888 Stellar International Primal Business Group LLC. The loan is unsecured, interest free and has no fixed terms of repayment.

7. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	582,184		1,764,344

8. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	1,396		1,108
Taxation and social security	2,757		54,517
Other creditors	295,519		348,356
	299,672		403,981

9. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 244)		0
Credited/(charged) to the Statement of Income and Retained Earnings	244		( 244)
At the end of financial year	0		( 244)

10. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

11. Related party transactions

Transactions with owners holding a participating interest in the entity

	2024		2023
	£		£
Shamrock Wellbeing Ltd	526,109		0
Holme Rose	(286,024)		(340,966)

The above loans are unsecured, interest free and has no fixed terms of repayment.