Registered number: 11389511
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2025
PHOENIX BEAUTY LTD
COMPANY INFORMATION
PHOENIX BEAUTY LTD
CONTENTS
PHOENIX BEAUTY LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
Phoenix Beauty Ltd is a distributor and service provider of fragrance and beauty products covering the UK and Irish markets. The business was founded in 2018 and has since grown rapidly to now distribute over 20 well known fragrance and beauty brands with market leading growth.
2024/25 was a strategically important year for Phoenix Beauty with strong growth in sales and the expansion and further diversification of our brand portfolio. We agreed new contracts with 3 brands that we have introduced to market with very strong success, whilst still significantly growing our existing portfolio. This puts the business in a strong position going into future years as we have added complimentary and supplementary brands to the business that will increase sales and profits each year. This is supported by the fact that in 2024 Phoenix Beauty managed 3 of the 15 fastest growing brands in the entire fragrance industry, and this strong performance has carried on into 2025 with further market leading growths and launches.
We have also improved cash flow by securing additional credit facilities, and improved operationally via automated API links to improve our stock and sales management systems.
We have absorbed certain additional taxation pressures such as the increase in NIER, whilst still growing the team despite this. We have also been able to manage currency fluctuations via the implementation of forward buys of currency to negate losses in this area.
We have also improved cash flow by securing additional credit facilities, and improved operationally via automated API links to improve our stock and sales management systems.
We have absorbed certain additional taxation pressures such as the increase in NIER, whilst still growing the team despite this. We have also been able to manage currency fluctuations via the implementation of forward buys of currency to negate losses in this area.
The main risks effecting the business are the performance and liquidity of high street retailers who continue to experience difficult trading conditions, which impacts the overall market. Despite this, we are fortunate to have a diverse portfolio covering high end luxury down to mass market to allow us to spread our risk and not have a huge reliance on any one customer base, but it does expose us to credit risks, which we closely review.
We were also impacted by supply chain issues of a leading brand in 2024 which led to a period of out of stocks and lost sales, but despite this, managed to still show significant business growth.
We may be exposed to price risk if any retaliatory tariffs are imposed against the US and would need to pass these onto customers if implemented, or if the costs of borrowing increase if inflation and therefore interest rates increase again.
As Directors we actively review all these risks on a continuous basis to minimise the impact it could have on our business from a profit, credit risk and cash point of view.
We were also impacted by supply chain issues of a leading brand in 2024 which led to a period of out of stocks and lost sales, but despite this, managed to still show significant business growth.
We may be exposed to price risk if any retaliatory tariffs are imposed against the US and would need to pass these onto customers if implemented, or if the costs of borrowing increase if inflation and therefore interest rates increase again.
As Directors we actively review all these risks on a continuous basis to minimise the impact it could have on our business from a profit, credit risk and cash point of view.
The company regularly reports and tracks performance against company objectives, primarily linked to sales, gross profit, operating expenses and net profit. Turnover increased by 15% from £10.997m to £12.609m and gross profit increased by 8% from £3.752m to £4.054m. The growth in GP was smaller than sales because we ended a contract on a retainer brand to free up more time to pursue brands with a higher profitability on a longer term, which we have been able to do and expect GP to increase significantly in the coming years as a result. Full details of company results are set out in the financial statements.
This report was approved by the board on 10 October 2025 and signed on its behalf.
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PHOENIX BEAUTY LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The directors present their report and the financial statements for the year ended 30 June 2025.
The directors are responsible for preparing the strategic report, the directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £299,890 (2024 - £632,937).
The Company has paid dividends of £221,529 (2024 - £NIL) during the year.
The directors who served during the year were:
The Company will continue to expand the business by exploring brands with high potential.
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PHOENIX BEAUTY LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
There have been no significant events affecting the Company since the year end.
The auditors, Hamlyns Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 10 October 2025 and signed on its behalf.
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PHOENIX BEAUTY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PHOENIX BEAUTY LTD
We have audited the financial statements of Phoenix Beauty Ltd (the 'Company') for the year ended 30 June 2025, which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of cash flows, the statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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PHOENIX BEAUTY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PHOENIX BEAUTY LTD (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
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PHOENIX BEAUTY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PHOENIX BEAUTY LTD (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are the Companies Act 2006, the reporting framework of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and UK taxation legislation.
We understood how the company was complying with those frameworks through discussions with management and those charged with governance. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. Based on our understanding of the entity and its environment we identified the following areas as key risks and designed our audit approach as detailed to ensure material misstatements and irregularities would be detected in these areas:
Management over-ride:
We undertook testing of systems to gain assurance these have been operating as expected during the period. We also performed journal testing to test the efficacy of journals posted during the period. Additionally, we have reviewed the disclosures in the accounts and the Directors report to ensure they agree with our findings from the audit testing carried out.
Revenue recognition:
The main area of risk identified with Income recognition lies with cut off and completion of income. To ensure this is not materially misstated or manipulated we have carried out substantive testing on income cut off and completion.
Stock:
The main risk area in terms of stock is stock valuation. Substantive testing has been carried out on the stock balance to ensure it is not materially misstated.
We understood how the company was complying with those frameworks through discussions with management and those charged with governance. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. Based on our understanding of the entity and its environment we identified the following areas as key risks and designed our audit approach as detailed to ensure material misstatements and irregularities would be detected in these areas:
Management over-ride:
We undertook testing of systems to gain assurance these have been operating as expected during the period. We also performed journal testing to test the efficacy of journals posted during the period. Additionally, we have reviewed the disclosures in the accounts and the Directors report to ensure they agree with our findings from the audit testing carried out.
Revenue recognition:
The main area of risk identified with Income recognition lies with cut off and completion of income. To ensure this is not materially misstated or manipulated we have carried out substantive testing on income cut off and completion.
Stock:
The main risk area in terms of stock is stock valuation. Substantive testing has been carried out on the stock balance to ensure it is not materially misstated.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
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PHOENIX BEAUTY LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PHOENIX BEAUTY LTD (CONTINUED)
for and on behalf of
Chartered Accountants
Statutory Auditors
Sundial House
High Street
Horsell
GU21 4SU
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PHOENIX BEAUTY LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
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PHOENIX BEAUTY LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
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PHOENIX BEAUTY LTD
REGISTERED NUMBER: 11389511
BALANCE SHEET
AS AT 30 JUNE 2025
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PHOENIX BEAUTY LTD
REGISTERED NUMBER: 11389511
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 October 2025 .
The notes on pages 16 to 29 form part of these financial statements.
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PHOENIX BEAUTY LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
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PHOENIX BEAUTY LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
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PHOENIX BEAUTY LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
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PHOENIX BEAUTY LTD
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 JUNE 2025
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Phoenix Beauty Ltd is a private company, limited by shares, registered in England and Wales. The registered office address and registered number are detailed below:
Registered office address: Sundial House, High Street, Horsell, Woking, England, GU21 4SU
Registered number: 11389511
Registered office address: Sundial House, High Street, Horsell, Woking, England, GU21 4SU
Registered number: 11389511
2.Accounting policies
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The company is supported through secured interest bearing shareholder loans, as detailed in note 7. These loans will only be repayable when the shareholder ceases to own any shares in the company. The directors have received confirmation that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.
The following principal accounting policies have been applied:
Functional and presentation currency
Transactions and balances
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The directors have not made any critical accounting judgements in the process of applying the company's accounting policies, that could have a significant effect on the amounts recognised in the Company's Financial Statements.
Analysis of turnover by country of destination:
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
There were no factors that may affect future tax charges.
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Included in other creditors are secured interest bearing shareholder loans of £2,575,000 (2024: £2,175,000). Repayment is not due within 12 months of the year end. The loans are secured by a fixed and floating charge over all assets of the company.
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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17.Other financial commitments
The Company has entered into a forward contract during the year to buy 1,611,600 USD at an exchange rate which will be settled within a year.
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PHOENIX BEAUTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
The Company's ultimate controlling party is Shelley Ann Smyth by virtue of its ownership of 51% or more of the issued share capital in the Company.
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