Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investment property | 4 |
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| 939,697 | 940,056 | |||
| Current assets | ||||
| Stocks | 5 |
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| Debtors | 6 |
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| Investments | 7 |
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| Cash at bank and in hand | 8 |
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| 405,572 | 373,428 | |||
| Creditors: amounts falling due within one year | 9 | (
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| Net current liabilities | (686,633) | (654,449) | ||
| Total assets less current liabilities | 253,064 | 285,607 | ||
| Creditors: amounts falling due after more than one year | 10 | (
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| Provision for liabilities | 14 | (
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| Net (liabilities)/assets | (
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| Capital and reserves | ||||
| Called-up share capital | 11 |
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| Profit and loss account | 12, 13 | (
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| Total shareholder's (deficit)/funds | (
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Director's responsibilities:
The financial statements of Phoenix Properties (UK) Limited (registered number:
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Christian Peter Watson
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Phoenix Properties (UK) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2 Plymouth Avenue, Brookhill Industrial Estate, Pinxton, NG16 6RA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
| Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
The fair value is determined annually by the director, on an open market value for existing use basis.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Costs include all purchase, transport, and handling costs in bringing stocks to their present location and condition.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Plant and machinery etc. | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 October 2024 |
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| At 30 September 2025 |
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| Accumulated depreciation | |||
| At 01 October 2024 |
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| Charge for the financial year |
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| At 30 September 2025 |
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| Net book value | |||
| At 30 September 2025 | 1,074 | 1,074 | |
| At 30 September 2024 | 1,433 | 1,433 |
| Investment property | |
| £ | |
| Valuation | |
| As at 01 October 2024 |
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| As at 30 September 2025 |
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Valuation
The fair value of the investment property has been arrived at on the basis of a valuation by the director, which is carried out annually. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| Historic cost | 770,183 | 770,183 |
| 2025 | 2024 | ||
| £ | £ | ||
| Work in progress |
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| 2025 | 2024 | ||
| £ | £ | ||
| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Investments |
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| 2025 | 2024 | ||
| £ | £ | ||
| Cash at bank and in hand |
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| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to related parties |
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans (secured) |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| 2025 | 2024 | ||
| £ | £ | ||
| Revaluation reserve | 129,308 | 129,308 | |
| Retained earnings | (155,670) | (123,126) | |
| (26,362) | 6,182 |
| 2025 | 2024 | ||
| £ | £ | ||
| Revaluation Reserve at start of period | 129,308 | 129,308 | |
| Revaluation adjustment in current year | 0 | 0 | |
| 129,308 | 129,308 |
The company has given cross guarantees to banks and other financial institutions for other related companie's debts. The debt guaranteed at 30 September 2025 amounted to £173,796 (2024: £362,317).