Phoenix Developments (Wales) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04519309 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Phoenix Developments (Wales) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A J Bowen

Mrs R Bowen

SECRETARY:

Mr A J Bowen

REGISTERED OFFICE:

First Floor

1 St John's Court

Upper Fforest Way

Enterprise Park

Swansea

SA6 8QQ

REGISTERED NUMBER:

04519309 (England and Wales)

ACCOUNTANTS:

Ashmole & Co

First Floor

1 St John's Court

Upper Fforest Way

Enterprise Park

Swansea

SA6 8QQ

FIXED ASSETS

Intangible assets

3

1

Tangible assets

4

66,665

89,845

66,666

89,846

CURRENT ASSETS

Stocks

15,000

14,000

Debtors

5

362,154

502,486

Cash at bank and in hand

21,132

46,204

398,286

562,690

CREDITORS

Amounts falling due within one year

6

350,813

463,852

NET CURRENT ASSETS

47,473

98,838

TOTAL ASSETS LESS CURRENT
LIABILITIES

114,139

188,684

CREDITORS

Amounts falling due after more than one
year

7

30,582

48,375

NET ASSETS

83,557

140,309

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

83,555

140,307

SHAREHOLDERS' FUNDS

83,557

140,309

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

Mr A J Bowen - Director

1.	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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

20% on cost

Long term contracts

Amounts recoverable on long term contracts. which are included in debtors are stated as net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 22 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

105,000

AMORTISATION

At 1 January 2024

and 31 December 2024

104,999

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

and 31 December 2024

19,578

4,704

106,949

3,254

134,485

DEPRECIATION

At 1 January 2024

10,363

4,167

27,628

2,482

44,640

Charge for year

2,742

358

19,889

191

23,180

At 31 December 2024

13,105

4,525

47,517

2,673

67,820

NET BOOK VALUE

At 31 December 2024

6,473

179

59,432

581

66,665

At 31 December 2023

9,215

537

79,321

772

89,845

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

50,484

120,964

Amounts recoverable on contracts

300,000

359,706

Other debtors

3,426

7,677

Directors' current accounts

4,314

11,773

Prepayments and accrued income

3,930

2,366

362,154

502,486

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

4,971

4,874

Bank Loan < 1 Year

10,000

Hire purchase contracts

17,505

27,217

Trade creditors

194,025

226,297

Tax

3,616

3,865

Social security and other taxes

3,646

13,668

VAT

72,102

120,191

Other creditors

36,874

22,895

Accruals and deferred income

8,074

34,845

350,813

463,852

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2024

2023

£

Bank Loan > 1 Year

4,167

14,167

Hire purchase contracts

26,415

34,208

30,582

48,375

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

Mr A J Bowen and Mrs R Bowen

Balance outstanding at start of year

11,773

1,686

Amounts advanced

17,954

15,719

Amounts repaid

(25,413

)

(5,632

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

4,314

11,773