Company registration number 05124817 (England and Wales)
PHOENIX 1872 LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PHOENIX 1872 LIMITED
COMPANY INFORMATION
Directors
Mr D N Cooke
Mr P E Cooke
Mr T J Cooke
Secretary
Mr D N Cooke
Company number
05124817
Registered office
Northgate
Aldridge
Walsall
WS9 8TL
Auditor
Edwards
34 High Street
Aldridge
Walsall
West Midlands
WS9 8LZ
PHOENIX 1872 LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group balance sheet
9 - 10
Company balance sheet
11 - 12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Notes to the financial statements
16 - 34
PHOENIX 1872 LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

The directors present the strategic report for the year ended 30 June 2025.

Review of the business

The principal activity of the company is that of a holding company for its subsidiary companies. The group's principal activities are the manufacture and sale of hinges, pressings, presswork tooling, plan filing systems and property investment.

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

The group had an overall satisfactory year. Assets are held within the holding company of Phoenix 1872 and are then utilised to support the long term development of the trading subsidiaries. All group companies retained their ISO 9001 and Investors in People accreditation status, confirming the group's commitment to quality and service. Social responsibility extends beyond compliances to the support and involvement of all stakeholders.

Cooke Brothers continued as the main subsidiary, trading as a key supplier to the construction industry. Large architectural ironmongery contracts continue to be key to the company's success, although it is recognised that these will fluctuate in size from year to year. Products were again utilised in prestigious worldwide projects.

Phoenix Tooling & Development, autonomously managed by Martin Mulvey, continued the development of a strong tooling niche in specialised areas of multislide, high speed, progression and turnkey package tooling services. Both turnover and profitability are heavily dependent upon the number of major tooling contracts won during the year.

Principal risks and uncertainties

As for many businesses of our size, the business environment i n which we operate continues to be challenging. With these r i sks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen future events outside of our control. To counteract these uncertainties the group maintains a strong financial reserves pol i cy.

Key performance indicators

The Group uses operating profit or loss as a key performance indicator. T rading was satisfactory and resulted in a n operating profit of £127,245 compared to £248,050 in 202 4. This is a reflection of the Group's performance in the year.

After accounting for actuarial gains on the defined benefit pension scheme of £854,000 (202 4: £165,000 losses) and fair value gains on investment properties of £Nil (2024: £485,000) closing shareholder funds have increased to £8,201,155 (2024: £7,376,202).

The profit for the year, after taxation but before actuarial losses/gains, amounted to £105,511 (202 4: £595,348).

On behalf of the board

Mr P E Cooke
Director
5 March 2026
PHOENIX 1872 LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -

The directors present their annual report and financial statements for the year ended 30 June 2025.

Principal activities

The principal activity of the company continued to be that of a holding company for its subsidiary companies. The Group's principal activities are the manufacture and sale of hinges, pressings, tools and property investment.

Results and dividends

The profit for the year, after taxation and minority interests, amounted to £63,344 (202 4: £545,383).

There were dividends of £80,000 (202 4: £Nil) in the year attributable to equity owners of the Company and dividends of £134,558 (202 4: £34,163) in the year attributable to equity owners of the Group.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr D N Cooke
Mr P E Cooke
Mr T J Cooke
Financial instruments

The group finances its operations day-to-day through the use of operational bank accounts. The group makes use of financial instruments principally through its operational bank accounts. The directors' objectives are to retain sufficient liquid funds to enable the group to meet its day to day requirements as they fall due and to maximise returns on surplus funds where possible. The group has limited exposure to foreign exchange risk at present with minor utilisation of foreign currency bank accounts. The group's funds are held primarily in short term deposit accounts. The directors believe that this gives the flexibility to release cash resources at short notice and allows the group to take advantage of changing economic conditions as they arise.

Research and development

The group continues to commit significant resource and time to the development of new and existing technologies and enhancements that reinforce the competitive edge of the company's range of products. In addition, the group holds certain patents over its products to protect its future business worldwide.

Future developments

The Group is looking to continue to grow its product portfolio and build on the knowledge gained in recent years.

Auditor

In accordance with the company's articles, a resolution proposing that Edwards be reappointed as auditor of the group will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized group exemption

This report has been prepared in accordance with the provisions applicable to group entitled to the medium sized group exemption.

PHOENIX 1872 LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
On behalf of the board
Mr P E Cooke
Director
5 March 2026
PHOENIX 1872 LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and parent company, and of the profit or loss of the group for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements 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 group and parent company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent company, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PHOENIX 1872 LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PHOENIX 1872 LIMITED
- 5 -
Opinion

We have audited the financial statements of Phoenix 1872 Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 30 June 2025 and of the group's profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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.

Conclusions relating to going concern

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 group's and parent 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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- T he information given in the strategic report and the directors' r eport 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.

PHOENIX 1872 LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF PHOENIX 1872 LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the group's and parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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 auditor's 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 Group 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 within which the group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation and health & safety regulations compliance.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be in the following areas: recognition of income, the override of controls by management, revenue journals, inappropriate treatment of non-routine transactions and areas of estimation uncertainty specifically relating to the valuation of the defined benefit pension scheme, investment property and stocks and work in progress. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, review and discussion of non-routine transactions, sample testing on the posting of journals and review of accounting estimates for biases.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

PHOENIX 1872 LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF PHOENIX 1872 LIMITED
- 7 -

Use of our report

This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor's 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Kempson ACA (Senior Statutory Auditor)
For and on behalf of Edwards, Statutory Auditor
Chartered Accountants
34 High Street
Aldridge
Walsall
West Midlands
WS9 8LZ
5 March 2026
PHOENIX 1872 LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
8,126,181
7,281,329
Cost of sales
(5,670,145)
(4,219,790)
Gross profit
2,456,036
3,061,539
Administrative expenses
(2,300,556)
(2,763,350)
Exceptional items
4
(28,235)
(50,139)
Operating profit
5
127,245
248,050
Interest receivable and similar income
9
9,520
4,498
Interest payable and similar expenses
10
(54)
-
0
Other finance income
11
64,000
70,000
Fair value gain on investment properties
15
-
0
485,000
Profit before taxation
200,711
807,548
Tax on profit
12
(95,200)
(212,200)
Profit for the financial year
105,511
595,348
Other comprehensive income
Actuarial gain/(loss) on defined benefit pension schemes
22
854,000
(165,000)
Total comprehensive income for the year
959,511
430,348
Profit for the financial year is attributable to:
- Owners of the parent company
66,344
545,383
- Non-controlling interests
39,167
49,965
105,511
595,348
Total comprehensive income for the year is attributable to:
- Owners of the parent company
920,344
380,383
- Non-controlling interests
39,167
49,965
959,511
430,348
PHOENIX 1872 LIMITED
GROUP BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
14
3,317,960
3,495,048
Investment property
15
875,000
875,000
4,192,960
4,370,048
Current assets
Stocks
18
1,110,656
517,502
Debtors
19
2,338,571
1,692,138
Cash at bank and in hand
1,889,944
1,396,015
5,339,171
3,605,655
Creditors: amounts falling due within one year
20
(2,604,276)
(1,197,001)
Net current assets
2,734,895
2,408,654
Total assets less current liabilities
6,927,855
6,778,702
Provisions for liabilities
Deferred tax liability
21
453,700
358,500
(453,700)
(358,500)
Net assets excluding pension surplus
6,474,155
6,420,202
Defined benefit pension surplus
22
1,727,000
956,000
Net assets
8,201,155
7,376,202
Capital and reserves
Called up share capital
23
100,000
100,000
Revaluation reserve
880,840
880,840
Other reserves
(134,705)
(134,705)
Profit and loss reserves
7,242,011
6,401,667
Equity attributable to owners of the parent company
8,088,146
7,247,802
Non-controlling interests
113,009
128,400
Total equity
8,201,155
7,376,202
PHOENIX 1872 LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2025
30 June 2025
- 10 -

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 5 March 2026 and are signed on its behalf by:
05 March 2026
Mr P E Cooke
Director
Company registration number 05124817 (England and Wales)
PHOENIX 1872 LIMITED
COMPANY BALANCE SHEET
AS AT 30 JUNE 2025
30 June 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
14
3,127,887
3,346,774
Investment property
15
875,000
875,000
Investments
16
109,100
109,100
4,111,987
4,330,874
Current assets
Debtors
19
113,660
71,000
Cash at bank and in hand
1,651,211
1,159,214
1,764,871
1,230,214
Creditors: amounts falling due within one year
20
(1,779,517)
(1,582,220)
Net current liabilities
(14,646)
(352,006)
Total assets less current liabilities
4,097,341
3,978,868
Provisions for liabilities
Deferred tax liability
21
430,000
345,000
(430,000)
(345,000)
Net assets excluding pension surplus
3,667,341
3,633,868
Defined benefit pension surplus
22
1,727,000
956,000
Net assets
5,394,341
4,589,868
Capital and reserves
Called up share capital
23
100,000
100,000
Revaluation reserve
880,840
880,840
Other reserves
(134,705)
(134,705)
Profit and loss reserves
4,548,206
3,743,733
Total equity
5,394,341
4,589,868
PHOENIX 1872 LIMITED
COMPANY BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2025
30 June 2025
- 12 -

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £30,473 (2024 - £274,493 profit).

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 5 March 2026 and are signed on its behalf by:
05 March 2026
Mr P E Cooke
Director
Company registration number 05124817 (England and Wales)
PHOENIX 1872 LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 13 -
Share capital
Revaluation reserve
Other reserves
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
£
Balance at 1 July 2023
100,000
880,840
(134,705)
6,119,470
6,965,605
14,412
6,980,017
Year ended 30 June 2024:
Profit for the year
-
-
-
545,383
545,383
49,965
595,348
Other comprehensive income:
Actuarial losses on defined benefit plans
-
-
-
(165,000)
(165,000)
-
(165,000)
Total comprehensive income
-
-
-
380,383
380,383
49,965
430,348
Dividends
13
-
-
-
-
-
(34,163)
(34,163)
Increase in proportion of non-controlling interests
-
-
-
(98,186)
(98,186)
98,186
-
Balance at 30 June 2024
100,000
880,840
(134,705)
6,401,667
7,247,802
128,400
7,376,202
Year ended 30 June 2025:
Profit for the year
-
-
-
66,344
66,344
39,167
105,511
Other comprehensive income:
Actuarial gains on defined benefit plans
-
-
-
854,000
854,000
-
854,000
Total comprehensive income
-
-
-
920,344
920,344
39,167
959,511
Dividends
13
-
-
-
(80,000)
(80,000)
(54,558)
(134,558)
Balance at 30 June 2025
100,000
880,840
(134,705)
7,242,011
8,088,146
113,009
8,201,155
PHOENIX 1872 LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 14 -
Share capital
Revaluation reserve
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 July 2023
100,000
880,840
(134,705)
3,634,240
4,480,375
Year ended 30 June 2024:
Profit for the year
-
-
-
274,493
274,493
Other comprehensive income:
Actuarial losses on defined benefit plans
-
-
-
(165,000)
(165,000)
Total comprehensive income
-
-
-
109,493
109,493
Balance at 30 June 2024
100,000
880,840
(134,705)
3,743,733
4,589,868
Year ended 30 June 2025:
Profit for the year
-
-
-
30,473
30,473
Other comprehensive income:
Actuarial gains on defined benefit plans
-
-
-
854,000
854,000
Total comprehensive income
-
-
-
884,473
884,473
Dividends
13
-
-
-
(80,000)
(80,000)
Balance at 30 June 2025
100,000
880,840
(134,705)
4,548,206
5,394,341
PHOENIX 1872 LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 15 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
28
725,421
414,267
Interest paid
(54)
-
0
Net cash inflow from operating activities
725,367
414,267
Investing activities
Purchase of tangible fixed assets
(132,895)
(626,832)
Proceeds from disposal of tangible fixed assets
26,495
4,000
Interest received
9,520
4,498
Net cash used in investing activities
(96,880)
(618,334)
Financing activities
Dividends paid to equity shareholders
(80,000)
-
0
Dividends paid to non-controlling interests
(54,558)
(34,163)
Net cash used in financing activities
(134,558)
(34,163)
Net increase/(decrease) in cash and cash equivalents
493,929
(238,230)
Cash and cash equivalents at beginning of year
1,396,015
1,634,245
Cash and cash equivalents at end of year
1,889,944
1,396,015
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 16 -
1
Accounting policies
Company information

Phoenix 1872 Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Northgate, Aldridge, Walsall, WS9 8TL.

The group consists of Phoenix 1872 Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

1.2
Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. lntercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

In accordance with the transitional exemption available in FRS 102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 July 2015.

1.3
Going concern

The directors have considered the performance and position of the Group and Company at the year end date, alongside future requirements of the business as well as forecasts, budgets and working cap i tal projections, and have concluded that sufficient resources are available to allow the company and Group to continue as a going concern for the foreseeable future. Thus, t he directors continue adopt the going concern basis of accounting in preparing the financial statements

PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 17 -
1.4
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rental income is recognised on a receivable basis.

1.5
Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Histor i cal cost includes expenditure that is directly attributable to bringing the asset to the locat i on and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using straight l i ne and reducing balance methods.

Depreciation is provided on the following basis:

Freehold property
2% on a straight line basis, excluding investment property
Long-term leasehold property
Over the life of the lease
Plant and machinery
Assets acquired prior to 30/06/2015: 25% on a reducing balance basis. Assets aquired after 01/07/2015: 5% to 33% on a straight line basis from month of purchase
Office and computer equipment
25% on a straight line basis
Motor vehicles
25% on a reducing balance 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.

1.6
Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Group S tatement of C omprehensive I ncome.

1.7
Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated i mpa irment.

PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 18 -
1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs

1.9
Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average. Work in progress and finished goods include labour and attributable overheads.

At each Balance sheet date, stocks are assessed for impairment. If stock is impaired the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immed i ately in Consolidated statement of comprehensive income.

1.10
Cash and cash equivalents

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

1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset and 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 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.

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.

PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 19 -
1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 20 -
1.17

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in the Consolidated statement of comprehensive income when they fall due. Amounts not paid are shown in other taxation and social security as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Defined benefit pension plan

The Group operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

The liability recognised in the Balance sheet in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the Balance sheet date less the fair value of plan assets at the balance sheet date (if any) out of which the obligations are to be settled.

The defined benefit obligation is calculated using the projected unit credit method. Annually the Company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').

The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Group's policy for similarly held assets. This includes the use of appropriate valuation techniques.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.

The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:

- the increase in net pension benefit liability arising from employee service during the period; and

- the cost of plan introductions, benefit changes, curtailments and settlements

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in the Statement of comprehensive income within 'other finance costs'.

2
Judgements and key sources of estimation uncertainty

The preparation of th e fin anc ia l statements in conformity with generally accepted accounting princ iples requires the directors to make estimates and assumptions tha t affect the reported amounts of assets and liabilities and disclosure of cont i ngent assets and l iabi lit ies at the date of the financial statements and t he re ported amounts of revenues and expenses during the report i ng pe rio d. Actual results in the future could differ from those estimates. In th is rega rd, the directors b elieve that the critical accounting policies where judgements or estimations are necessa rily applied a re summarised below:

PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 21 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Defined benefit pension

The directors have obtained a report, prepared under FRS 102, from their actuaries which has been used to prepare the defined benefit pension figures in these financial statements. This report highlights various assumptions used relating to discount, salary, inflation and mortality rates which are disclosed in the financial statements.

Valuation of investment property

The valuations of the company's investment properties are made by the directors on an open market existing use basis.

Valuation of stocks and work in progress

The amount of profit attributable to the stage of completion of a contract is recognised when the outcome of the contract can be foreseen with reasonable certainty. Turnover for such contracts is stated at the cost appropriate to their stage of completion plus attributable profits, less amounts recognised in previous years. Provision is made for any losses as soon as they are foreseen.

Contract work in progress is stated at cost incurred, less those transferred to the profit and loss account, after deducting foreseeable losses and payments on account not matched with turnover.

3
Turnover and other revenue

An analysis of the group's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Property investment
140,448
140,000
Sale of manufactured goods
7,985,733
7,141,329
8,126,181
7,281,329
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
7,688,181
6,522,329
Rest of Europe (rounded to the nearest £000)
38,000
368,000
Rest of the world (rounded to the nearest £000)
400,000
391,000
8,126,181
7,281,329
2025
2024
£
£
Other revenue
Interest income
73,520
74,498
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 22 -
4
Exceptional item
2025
2024
£
£
Expenditure
Redundancy costs
28,235
50,139
5
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange (gains)/losses
(3,365)
1,208
Depreciation of owned tangible fixed assets
293,280
295,247
Profit on disposal of tangible fixed assets
(9,792)
(1,266)
Directors' pension service costs
147,000
118,000
Operating lease charges
262,275
269,893
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 23 -
6
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
27,400
23,800
For other services
Taxation compliance services
1,850
2,975
Accountancy services
1,850
2,975
Other services
64,550
64,373
68,250
70,323
7
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Group
2025
2024
Number
Number
Production
38
37
Administration
13
13
Total
51
50

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries (including employers NIC)
2,290,849
2,303,124
213,735
373,364
Pension costs - defined benefit scheme
189,222
160,222
189,222
160,222
Pension costs - defined contribution scheme
67,471
58,191
-
-
2,547,542
2,521,537
402,957
533,586
8
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
385,884
497,025
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
8
Directors' remuneration
(Continued)
- 24 -
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
152,629
207,613

During the year retirement benefits were accruing to no directors (202 4 - N il) in respect of defined contribution pension schemes.

During the year retirement benefits were accruing to 3 directors (202 4 - 3) in respect of defined benefit pension schemes.

9
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
9,520
4,498
10
Interest payable and similar expenses
2025
2024
£
£
Other interest
54
-
11
Other finance income
2025
2024
£
£
Other finance income:
Interest income on pension scheme assets
328,000
291,000
Interest payable on defined benefit liability
(264,000)
(221,000)
Total finance income
64,000
70,000
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 25 -
12
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
95,200
212,200

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
200,711
807,548
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
50,178
201,887
Tax effect of expenses that are not deductible in determining taxable profit
31,188
16,763
Depreciation on assets not qualifying for tax allowances
15,096
13,571
Other permanent differences
(1,262)
(20,021)
Taxation charge
95,200
212,200

Factors that may affect future tax charges

The group has a deferred tax asset of £156,000 (2024 - £270,000) in relation to carried forward tax losses.

13
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Final paid
80,000
-
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 26 -
14
Tangible fixed assets
Group
Freehold property
Long-term leasehold property
Plant and machinery
Office and computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 July 2024
1,897,252
168,292
5,203,511
31,026
240,695
7,540,776
Additions
-
0
-
0
97,731
6,174
28,990
132,895
Disposals
-
0
-
0
(71,819)
-
0
(39,515)
(111,334)
At 30 June 2025
1,897,252
168,292
5,229,423
37,200
230,170
7,562,337
Depreciation and impairment
At 1 July 2024
285,661
80,429
3,540,772
22,858
116,008
4,045,728
Depreciation charged in the year
26,725
33,658
193,578
7,214
32,105
293,280
Eliminated in respect of disposals
-
0
-
0
(67,076)
-
0
(27,555)
(94,631)
At 30 June 2025
312,386
114,087
3,667,274
30,072
120,558
4,244,377
Carrying amount
At 30 June 2025
1,584,866
54,205
1,562,149
7,128
109,612
3,317,960
At 30 June 2024
1,611,591
87,863
1,662,739
8,168
124,687
3,495,048
Company
Freehold property
Long-term leasehold property
Plant and machinery
Total
£
£
£
£
Cost
At 1 July 2024
1,897,252
168,292
5,061,786
7,127,330
Additions
-
0
-
0
36,622
36,622
Disposals
-
0
-
0
(71,819)
(71,819)
At 30 June 2025
1,897,252
168,292
5,026,589
7,092,133
Depreciation and impairment
At 1 July 2024
285,661
80,429
3,414,466
3,780,556
Depreciation charged in the year
26,725
33,658
190,383
250,766
Eliminated in respect of disposals
-
0
-
0
(67,076)
(67,076)
At 30 June 2025
312,386
114,087
3,537,773
3,964,246
Carrying amount
At 30 June 2025
1,584,866
54,205
1,488,816
3,127,887
At 30 June 2024
1,611,591
87,863
1,647,320
3,346,774
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
14
Tangible fixed assets
(Continued)
- 27 -

Freehold property included above (in both the Group and Company) was valued on an existing use basis at £1,261,000 by Kingston Commercial Property Consultants on 27 May 2004 at the date of i ts acquisition. This has been used at the date of transition to FRS102 as the deemed cost of the freeho ld property. Land is not dep reciated. Additions since this date of £636,252 have been valued at cost.

Freehold property i ncludes land of £601,000 (202 4: £601,000) which is not dep rec iated.

The historic cost of freeho ld property is £1,121,263 (202 4: £1,121,263).

15
Investment property
Group
Company
2025
2025
£
£
Fair value
At 1 July 2024 and 30 June 2025
875,000
875,000

The property was valued by Burley Brown in February 2025 in connection with its sale. The directors consider the 30 June 2025 value to be in line with this valuation based on an open market value for existing use basis.

The h isto r i c cost of the freehold investment property is £285,149 (202 4: £285,149).

16
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
17
-
0
-
0
109,100
109,100
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 July 2024 and 30 June 2025
109,100
Carrying amount
At 30 June 2025
109,100
At 30 June 2024
109,100
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 28 -
17
Subsidiaries

Details of the company's subsidiaries at 30 June 2025 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Cooke Brothers Limited
1
Ordinary
100.00
Phoenix Tooling and Development Limited
1
Ordinary
76.00

Registered office addresses (all UK unless otherwise indicated):

1
Northgate, Aldridge, Walsall, United Kingdom, WS9 8TL
18
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
271,395
133,500
-
-
Work in progress (goods to be sold)
609,666
204,746
-
-
Finished goods and goods for resale
229,595
179,256
-
0
-
0
1,110,656
517,502
-
-
19
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
2,000,262
1,400,016
20,405
28,000
Amounts owed to related parties
31,603
43,000
31,603
43,000
Other debtors
43,746
1,595
42,252
-
Prepayments and accrued income
262,960
247,527
19,400
-
0
2,338,571
1,692,138
113,660
71,000
20
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
£
£
£
£
Trade creditors
470,542
441,268
14,239
29,653
Amounts owed to group undertakings
-
0
-
0
1,503,125
1,206,982
Other taxation and social security
398,093
189,901
39,704
53,242
Other creditors
218,572
122,417
154,424
80,228
Accruals and deferred income
1,517,069
443,415
68,025
212,115
2,604,276
1,197,001
1,779,517
1,582,220
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 29 -
21
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
373,700
393,500
Tax losses
(156,000)
(270,000)
Gain on revaluations
236,000
235,000
453,700
358,500
Liabilities
Liabilities
2025
2024
Company
£
£
Accelerated capital allowances
350,000
380,000
Tax losses
(156,000)
(270,000)
Gain on revaluations
236,000
235,000
430,000
345,000
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 July 2024
358,500
345,000
Charge to profit or loss
95,200
85,000
Liability at 30 June 2025
453,700
430,000
22
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
67,471
58,191

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

Defined benefit scheme - group and company

The company operates a defined benefit scheme for qualifying employees.

A full actuarial valuation was ca r r i ed out at 30 June 2008 and updated to 30 June 202 5, by a qualified actuary, independ e nt of the scheme's sponsoring employer. The major assumptions used by the actuary are shown below.

PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
22
Retirement benefit schemes
(Continued)
- 30 -
2025
2024
Key assumptions
%
%
Discount rate
5.25
5.0
Expected rate of increase of pensions in payment
3.5
3.2
Expected rate of salary increases
0
2.0
Mortality assumptions
2025
2024

Assumed life expectations on retirement at age 65:

Years
Years
Retiring today
- Males
21.0
21.5
- Females
23.2
23.4
Retiring in 20 years
- Males
22.3
22.8
- Females
24.7
24.9

The amounts included in the balance sheet arising from the company's obligations in respect of defined benefit plans are as follows:

Group and company
2025
2024
Liabilities/(assets):
£
£
Present value of defined benefit obligations
4,634,000
5,275,000
Fair value of plan assets
(6,361,000)
(6,231,000)
Surplus in scheme
(1,727,000)
(956,000)
Group and company
2025
2024
Amounts recognised in the profit and loss account
£
£
Costs/(income):
Current service cost
106,000
118,000
Net interest on net defined benefit liability/(asset)
(64,000)
(70,000)
Total costs
42,000
48,000
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
22
Retirement benefit schemes
(Continued)
- 31 -
Group and company
2025
2024
Amounts recognised in other comprehensive income
£
£
Costs/(income):
Actual return on scheme assets
(688,000)
(298,000)
Less: calculated interest element
328,000
291,000
Return on scheme assets excluding interest income
(360,000)
(7,000)
Actuarial changes related to obligations
(565,000)
(10,000)
Experience gains and losses
(144,000)
337,000
Total costs/(income)
(1,069,000)
320,000
Deferred tax movement
257,000
(70,000)
Company contributions
(42,000)
(85,000)
(854,000)
165,000
Group and company
2025
Movements in the present value of defined benefit obligations
£
Liabilities at 1 July 2024
5,275,000
Current service cost
64,000
Benefits paid
(260,000)
Actuarial gains and losses
(709,000)
Interest cost
264,000
At 30 June 2025
4,634,000
Group and company
2025
Movements in the fair value of plan assets
£
Fair value of assets at 1 July 2024
6,231,000
Interest income
328,000
Return on plan assets (excluding amounts included in net interest)
360,000
Benefits paid
(343,000)
Contributions by the employer
42,000
Deferred tax
(187,000)
At 30 June 2025
6,361,000

The actual return on plan assets was £298,000 (2024: £175,000).

PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
22
Retirement benefit schemes
(Continued)
- 32 -
Group and company
2025
2024
Fair value of plan assets
£
£
Equity instruments
3,109,000
2,536,000
Property
3,399,000
3,229,000
Bonds
-
452,000
Cash
534,000
333,000
Other
(105,000)
-
Deferred tax liability
(576,000)
(319,000)
Net pension scheme asset
6,361,000
6,231,000
23
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100,000
100,000
100,000
100,000
24
Financial commitments, guarantees and contingent liabilities

There is a fixed and floating charge dated 1 July 2004 in favour of the parent company over the undertaking s and all assets including all book debts.

25
Operating lease commitments
As lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within 1 year
262,275
262,275
-
-
Years 2-5
384,319
384,319
-
-
After 5 years
141,667
226,667
-
-
788,261
873,261
-
-
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 33 -
26
Related party transactions

At the year end £208,783 (202 4: £60,485) was included in the Group and £54,558 (2024: £60,485) was included in the Company other creditors, being amounts owed to key management personnel.

Remuneration paid to key management personnel during the year was: Group £587,761 (202 4: £736,125), Company, £367,745 (202 4: £521,587).

Transactions with entities over which the Group has joint control or significant influence were as follows:

- Pension contributions made by the Group and the Company of £42,000 (202 4: £4 2,000).

- At the year end, included within debtors, are amounts owed by related parties to the Group and the Company of £31,603 (202 4: £43,000).

- At the year end, included within other creditors, are amounts owed to related parties by the Group and the Company of £Nil (202 4: £9,000).

Transactions with entities controlled by a close family member of key management personnel were as follows;

- Rent paid by the Group to related part ies: £25,847 (202 4: £27,133), by the Company: £Nil (202 4: £Nil).

- Payment by the Group to related party for lease surrender Units 1-2 Phoenix Drive £Nil (2024: £443,520).

Outstanding balances with entities are unsecured, interest free and repayable on demand. The Group has not provided or benefited from any guaranties for any related party debtors or creditors. No provisions have been made for doubtful debts relating to amounts owed by related parties.

27
Controlling party

In the opinion of the Directors, there is no single controlling party of the company or group.

28
Cash generated from group operations
2025
2024
£
£
Profit after taxation
105,511
595,348
Adjustments for:
Taxation charged
95,200
212,200
Finance costs
54
-
0
Investment income
254,480
216,502
Gain on disposal of tangible fixed assets
(9,792)
(1,266)
Fair value gain on investment properties
-
0
(485,000)
Depreciation and impairment of tangible fixed assets
293,280
295,247
Pension scheme non-cash movement
(181,000)
(173,000)
Movements in working capital:
(Increase)/decrease in stocks
(593,154)
25,656
Increase in debtors
(646,433)
(275,803)
Increase in creditors
1,407,275
4,383
Cash generated from operations
725,421
414,267
PHOENIX 1872 LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 34 -
29
Analysis of changes in net funds - group
1 July 2024
Cash flows
30 June 2025
£
£
£
Cash at bank and in hand
1,396,015
493,929
1,889,944
2025-06-30 2024-07-01 false false CCH Software CCH Accounts Production 2025.300 Mr P E Cooke Mr T J Cooke Mr T J Cooke Mr D N Cooke false 05124817 bus:Consolidated 2024-07-01 2025-06-30 05124817 2024-07-01 2025-06-30 05124817 bus:CompanySecretaryDirector1 2024-07-01 2025-06-30 05124817 bus:Director1 2024-07-01 2025-06-30 05124817 bus:Director2 2024-07-01 2025-06-30 05124817 bus:CompanySecretary1 2024-07-01 2025-06-30 05124817 bus:Director3 2024-07-01 2025-06-30 05124817 bus:RegisteredOffice 2024-07-01 2025-06-30 05124817 2025-06-30 05124817 bus:Consolidated 2025-06-30 05124817 bus:Consolidated 2023-07-01 2024-06-30 05124817 core:Exceptional bus:Consolidated 1 2024-07-01 2025-06-30 05124817 core:Exceptional bus:Consolidated 1 2023-07-01 2024-06-30 05124817 2023-07-01 2024-06-30 05124817 core:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 05124817 core:RetainedEarningsAccumulatedLosses 2024-07-01 2025-06-30 05124817 bus:Consolidated 2024-06-30 05124817 2024-06-30 05124817 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2025-06-30 05124817 core:LandBuildings core:LeasedAssetsHeldAsLessee bus:Consolidated 2025-06-30 05124817 core:PlantMachinery bus:Consolidated 2025-06-30 05124817 core:ComputerEquipment bus:Consolidated 2025-06-30 05124817 core:MotorVehicles bus:Consolidated 2025-06-30 05124817 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-06-30 05124817 core:LandBuildings core:LeasedAssetsHeldAsLessee bus:Consolidated 2024-06-30 05124817 core:PlantMachinery bus:Consolidated 2024-06-30 05124817 core:ComputerEquipment bus:Consolidated 2024-06-30 05124817 core:MotorVehicles bus:Consolidated 2024-06-30 05124817 core:LandBuildings core:OwnedOrFreeholdAssets 2025-06-30 05124817 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-06-30 05124817 core:PlantMachinery 2025-06-30 05124817 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 05124817 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-06-30 05124817 core:PlantMachinery 2024-06-30 05124817 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2025-06-30 05124817 core:CurrentFinancialInstruments bus:Consolidated 2024-06-30 05124817 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2024-06-30 05124817 core:CurrentFinancialInstruments core:WithinOneYear 2025-06-30 05124817 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 05124817 core:CurrentFinancialInstruments 2025-06-30 05124817 core:CurrentFinancialInstruments 2024-06-30 05124817 core:ShareCapital bus:Consolidated 2025-06-30 05124817 core:ShareCapital bus:Consolidated 2024-06-30 05124817 core:RevaluationReserve bus:Consolidated 2025-06-30 05124817 core:RevaluationReserve bus:Consolidated 2024-06-30 05124817 core:OtherMiscellaneousReserve bus:Consolidated 2025-06-30 05124817 core:OtherMiscellaneousReserve bus:Consolidated 2024-06-30 05124817 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2025-06-30 05124817 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2024-06-30 05124817 core:Non-controllingInterests bus:Consolidated 2025-06-30 05124817 core:Non-controllingInterests bus:Consolidated 2024-06-30 05124817 core:ShareCapital 2025-06-30 05124817 core:ShareCapital 2024-06-30 05124817 core:RevaluationReserve 2025-06-30 05124817 core:RevaluationReserve 2024-06-30 05124817 core:OtherMiscellaneousReserve 2025-06-30 05124817 core:OtherMiscellaneousReserve 2024-06-30 05124817 core:RetainedEarningsAccumulatedLosses 2025-06-30 05124817 core:RetainedEarningsAccumulatedLosses 2024-06-30 05124817 core:ShareCapital bus:Consolidated 2023-06-30 05124817 core:SharePremium bus:Consolidated 2023-06-30 05124817 2023-06-30 05124817 core:ShareCapital 2023-06-30 05124817 core:RevaluationReserve 2023-06-30 05124817 core:RetainedEarningsAccumulatedLosses 2023-06-30 05124817 bus:Consolidated 2023-06-30 05124817 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 05124817 core:LandBuildings core:LongLeaseholdAssets 2024-07-01 2025-06-30 05124817 core:PlantMachinery 2024-07-01 2025-06-30 05124817 core:ComputerEquipment 2024-07-01 2025-06-30 05124817 core:MotorVehicles 2024-07-01 2025-06-30 05124817 bus:Consolidated 1 2024-07-01 2025-06-30 05124817 bus:Consolidated 1 2023-07-01 2024-06-30 05124817 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-06-30 05124817 core:LandBuildings core:LeasedAssetsHeldAsLessee bus:Consolidated 2024-06-30 05124817 core:PlantMachinery bus:Consolidated 2024-06-30 05124817 core:ComputerEquipment bus:Consolidated 2024-06-30 05124817 core:MotorVehicles bus:Consolidated 2024-06-30 05124817 bus:Consolidated 2024-06-30 05124817 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 05124817 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-06-30 05124817 core:PlantMachinery 2024-06-30 05124817 2024-06-30 05124817 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-07-01 2025-06-30 05124817 core:LandBuildings core:LeasedAssetsHeldAsLessee bus:Consolidated 2024-07-01 2025-06-30 05124817 core:PlantMachinery bus:Consolidated 2024-07-01 2025-06-30 05124817 core:ComputerEquipment bus:Consolidated 2024-07-01 2025-06-30 05124817 core:MotorVehicles bus:Consolidated 2024-07-01 2025-06-30 05124817 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-07-01 2025-06-30 05124817 core:Subsidiary1 2024-07-01 2025-06-30 05124817 core:Subsidiary2 2024-07-01 2025-06-30 05124817 core:Subsidiary1 1 2024-07-01 2025-06-30 05124817 core:Subsidiary2 2 2024-07-01 2025-06-30 05124817 core:CurrentFinancialInstruments bus:Consolidated 2025-06-30 05124817 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 05124817 bus:FRS102 2024-07-01 2025-06-30 05124817 bus:Audited 2024-07-01 2025-06-30 05124817 bus:ConsolidatedGroupCompanyAccounts 2024-07-01 2025-06-30 05124817 bus:FullAccounts 2024-07-01 2025-06-30 xbrli:pure xbrli:shares iso4217:GBP