REGISTERED NUMBER: 06491878 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

Phoenix Hire and Sales Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

P Marsh

G Marsh

P R Marsh

REGISTERED OFFICE:

Impression House

31 Invincible Road

Farnborough

Hampshire

GU14 7QU

REGISTERED NUMBER:

06491878 (England and Wales)

AUDITORS:

WP Audit Services LLP

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Property, plant and equipment

4

-

7,927,307

CURRENT ASSETS

Inventories

-

1,747,774

Debtors

5

1,278,505

2,523,105

Cash at bank

92,916

477,861

1,371,421

4,748,740

CREDITORS

Amounts falling due within one year

6

(1,319,328

)

(7,722,280

)

NET CURRENT ASSETS/(LIABILITIES)

52,093

(2,973,540

)

TOTAL ASSETS LESS CURRENT LIABILITIES

52,093

4,953,767

CREDITORS

Amounts falling due after more than one year

7

-

(1,919,398

)

PROVISIONS FOR LIABILITIES

-

(935,735

)

NET ASSETS

52,093

2,098,634

CAPITAL AND RESERVES

Called up share capital

8

50,700

50,700

Retained earnings

9

1,393

2,047,934

SHAREHOLDERS' FUNDS

52,093

2,098,634

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2026 and were signed on its behalf by:

P R Marsh - Director

P Marsh - Director

1.	STATUTORY INFORMATION

Phoenix Hire and Sales Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

On 1 June 2025 the company hived up its trade and transferred its trading assets and liabilities at fair value, to its parent company. As such the accounts have been prepared on a basis other than a going concern.

Under this alternative basis, assets are stated at their estimated net realisable values and liabilities are stated at their expected settlement amounts. The directors have assessed the impact of adopting this basis and have determined that the carrying amounts of assets and liabilities do not require material adjustment from their previous carrying values under the historical cost convention, as these values approximate their net realisable and settlement amounts, respectively.

Revenue

Revenue is recognised at the fair value of the consideration received or receivable for sale of goods and services to external customers in the ordinary nature of the business. Revenue is recognised when it and the associated costs can be reliably measured, future economic benefits are probable, and the risks and rewards of ownership have been transferred to the customer. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Revenue is stated net of Value Added Tax.

Tangible fixed assets

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

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write each asset down to its estimated residual value over its expected useful life at the following rates:-

Freehold Property - Not depreciated

Plant and machinery - 20% on reducing balance and 4% on reducing balance

Fixtures and fittings - 25% on cost

Motor vehicles - 20% on cost

Computer equipment - 20% on cost

Residual value is calculated on prices prevailing at the reporting date, after estimated costs of disposal, for the asset as if it were at the age and in the condition expected at the end of its useful life.

Excluding assets hived up to parent company, planned disposals of plant held for hire are transferred, at net book value, to inventory prior to sale, with the sale proceeds included in revenue.

Impairment of fixed assets

Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of net realisable value and value-in-use, are recognised as impairments. Impairment losses are recognised in the profit and loss account.

Inventories

Inventories are valued at the lower of cost and net realisable value. Net realisable value is based upon estimated normal selling price less further costs expected to be incurred to completion and disposal.

At each reporting date, the company assesses whether inventories are impaired or if an impairment loss recognised in prior periods has reversed. Any excess of the carrying amount of inventory over its estimate selling price less costs to complete and sell, is recognised as an impairment loss in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Transactions in currencies other than the functional currency (foreign currencies) are initially recorded at the exchange rate prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Where assets are financed by leasing agreements that give rights approximating to ownership ("finance leases"), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable during the lease term. The corresponding leasing commitments are shown as obligations to the lessor.

Lease payments are treated as consisting of capital and interest elements, and the interest is charged to the profit and loss account in proportion to the remaining balance outstanding.

All other leases are "operating leases" and the annual rentals are charged to the profit and loss on a straight line basis over the lease

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

For defined contribution schemes the amount charged to the profit and loss account in respect of pension costs and other post retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense in the period in which these are incurred.

The holiday year for the company ends at the reporting date and employees are not entitled to carry forward unused holiday.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102, in full, to all of its financial instruments.

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument, and are offset only when the company currently has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets

Debtors

Debtors which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price. Debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Where an arrangement with a debtor constitutes a financing transaction, the debtor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

A provision for impairment of debtors is established when there is evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event accruing after the impairment loss was recognised, are recognised immediately in profit or loss.

Financial liabilities and equity

Creditors

Creditors which are payable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Borrowings

Borrowings are initially recognised at the transaction price, including transaction costs, and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Derecognition of financial assets and liabilities

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

Dividends

Dividends are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2024 - 84 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

Cost

At 1 January 2025

192,224

11,774,115

109,755

Additions

-

4,249,957

627

Disposals

(192,224

)

(16,024,072

)

(110,382

)

At 31 December 2025

-

-

-

Depreciation

At 1 January 2025

-

4,816,327

95,359

Charge for year

-

133,623

4,236

Eliminated on disposal

-

(4,949,950

)

(99,595

)

At 31 December 2025

-

-

-

Net book value

At 31 December 2025

-

-

-

At 31 December 2024

192,224

6,957,788

14,396

Motor

Computer

vehicles

equipment

Totals

£

£

£

Cost

At 1 January 2025

1,468,750

53,236

13,598,080

Additions

-

-

4,250,584

Disposals

(1,468,750

)

(53,236

)

(17,848,664

)

At 31 December 2025

-

-

-

Depreciation

At 1 January 2025

737,969

21,118

5,670,773

Charge for year

99,368

3,110

240,337

Eliminated on disposal

(837,337

)

(24,228

)

(5,911,110

)

At 31 December 2025

-

-

-

Net book value

At 31 December 2025

-

-

-

At 31 December 2024

730,781

32,118

7,927,307

At the year end the company held fixed assets with a net book value of £nil (2024: £3,368,878) under hire purchase contracts

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Trade debtors

-

2,434,347

Amounts owed by group undertakings

1,250,080

-

Other debtors

28,425

88,758

1,278,505

2,523,105

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Hire purchase contracts

-

1,719,436

Trade creditors

-

1,698,018

Amounts owed to group undertakings

987,563

3,481,663

Taxation and social security

331,765

639,146

Other creditors

-

184,017

1,319,328

7,722,280

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/25

31/12/24

£

£

Hire purchase contracts

-

1,919,398

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/25

31/12/24

value:

£

£

30,000

Ordinary

£1

30,000

30,000

10,557

Ordinary A

£1

10,557

10,557

10,143

Ordinary B

£1

10,143

10,143

50,700

50,700

All classes of shares carry the right to one vote at general meetings of the company and carry no right to fixed income.

9.

RESERVES

Retained

earnings

£

At 1 January 2025

2,047,934

Profit for the year

2,003,459

Dividends

(4,050,000

)

At 31 December 2025

1,393

Reserves of the company represent the following:

Retained earnings

The cumulative profit and loss net of distributions to owners.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stuart Wright (Senior Statutory Auditor)

for and on behalf of WP Audit Services LLP

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.