REGISTERED NUMBER: 11691499 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PHOENIX HOMES SE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P J Cloherty

REGISTERED OFFICE:

30-34 North Street

Hailsham

United Kingdom

BN27 1DW

REGISTERED NUMBER:

11691499 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

13,560

13,767

Investment property

5

1,977,041

1,977,041

1,990,601

1,990,808

CURRENT ASSETS

Debtors

6

201,380

216,426

Cash at bank

2,086

2,940

203,466

219,366

CREDITORS

Amounts falling due within one year

7

(392,291

)

(440,118

)

NET CURRENT LIABILITIES

(188,825

)

(220,752

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,801,776

1,770,056

CREDITORS

Amounts falling due after more than one year

8

(1,035,135

)

(1,035,135

)

PROVISIONS FOR LIABILITIES

(183,799

)

(190,012

)

NET ASSETS

582,842

544,909

CAPITAL AND RESERVES

Called up share capital

9

100

100

Non-distributable reserves

542,816

541,397

Retained earnings

39,926

3,412

SHAREHOLDERS' FUNDS

582,842

544,909

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 director acknowledges his 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

P J Cloherty - Director

1.	STATUTORY INFORMATION

Phoenix Homes SE 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.

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 as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on 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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from bank and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at the amortised cost using the effective interest method

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is no intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

13,502

628

14,130

DEPRECIATION

At 1 January 2024

-

363

363

Charge for year

-

207

207

At 31 December 2024

-

570

570

NET BOOK VALUE

At 31 December 2024

13,502

58

13,560

At 31 December 2023

13,502

265

13,767

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,977,041

NET BOOK VALUE

At 31 December 2024

1,977,041

At 31 December 2023

1,977,041

Fair value at 31 December 2024 is represented by:

£

Valuation in 2019

101,102

Valuation in 2020

240,514

Valuation in 2021

285,518

Valuation in 2022

96,620

Cost

1,253,287

1,977,041

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

1,016,660

1,016,660

investment property was valued on an open market basis on 31 December 2024 by the Director. .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

201,380

216,426

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

3,300

6,480

Taxation and social security

10,491

-

Other creditors

378,500

433,638

392,291

440,118

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

1,035,135

1,035,135

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,035,135

1,035,135

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

80

Ordinary A

£1.00

80

80

20

Ordinary B

£1.00

20

20

100

100

10.	DIRECTOR'S 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

£

£

P J Cloherty

Balance outstanding at start of year

(15,045

)

12,647

Amounts advanced

(46,383

)

(28,844

)

Amounts repaid

36,152

1,152

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(25,276

)

(15,045

)

11.	RELATED PARTY DISCLOSURES

PJC Property Consultants Limited, a company controlled by the Director P Cloherty is owed £3,300 (2023:£3,300) by the company at the year end. No interest is payable on this loan and there are no formal repayment terms.

PPC Properties Limited, a company controlled by the Director P Cloherty is owed £64,827 (2023:£125,254) by the company at the year end. No interest is payable on this loan and there are no formal repayment terms.

PPC Portland Limited, a company controlled by the Director P Cloherty is owed £81,590 (2023:£82,990) by the company at the year end. No interest is payable on this loan and there are no formal repayment terms.

Velvet Homes Limited, a company controlled by the Director P Cloherty is owed £135,483 (2023:£128,954) by the company at the year end. No interest is payable on this loan and there are no formal repayment terms.