Company registration number 11748149 (England and Wales)
PHOENIX INDUSTRIAL SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
PHOENIX INDUSTRIAL SUPPLIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
PHOENIX INDUSTRIAL SUPPLIES LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2026
28 February 2026
- 1 -
2026
2025
Notes
£
£
FIXED ASSETS
Tangible assets
3
41,450
34,303
CURRENT ASSETS
Debtors
4
275,179
441,600
Cash at bank and in hand
475,463
448,012
750,642
889,612
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5
(166,526)
(310,816)
NET CURRENT ASSETS
584,116
578,796
TOTAL ASSETS LESS CURRENT LIABILITIES
625,566
613,099
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
6
(9,256)
(4,499)
PROVISIONS FOR LIABILITIES
(10,284)
(8,496)
NET ASSETS
606,026
600,104
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss reserves
605,926
600,004
TOTAL EQUITY
606,026
600,104

For the financial year ended 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

PHOENIX INDUSTRIAL SUPPLIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2026
28 February 2026
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 June 2026 and are signed on its behalf by:
Mrs J Crandon
Director
Company registration number 11748149 (England and Wales)
PHOENIX INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 3 -
1
ACCOUNTING POLICIES
Company information

Phoenix Industrial Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office is MII Engineering Limited, Unit 20 Pantglas Industrial Estate, Bedwas, Caerphilly, CF83 8DR.

1.1
Basis of preparation

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

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.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% reducing balance
Motor vehicles
25% reducing balance
PHOENIX INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
ACCOUNTING POLICIES
(Continued)
- 4 -

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.

1.4
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.

1.5
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 company’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 when the company has 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.

1.6
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.

PHOENIX INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
ACCOUNTING POLICIES
(Continued)
- 5 -
1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 s asset are consumed.

2
EMPLOYEES

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

2026
2025
Number
Number
Total
7
7
PHOENIX INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 6 -
3
TANGIBLE FIXED ASSETS
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 March 2025
7,130
58,380
65,510
Additions
-
0
17,500
17,500
Disposals
-
0
(6,900)
(6,900)
At 28 February 2026
7,130
68,980
76,110
Depreciation and impairment
At 1 March 2025
7,130
24,077
31,207
Depreciation charged in the year
-
0
9,345
9,345
Eliminated in respect of disposals
-
0
(5,892)
(5,892)
At 28 February 2026
7,130
27,530
34,660
Carrying amount
At 28 February 2026
-
0
41,450
41,450
At 28 February 2025
-
0
34,303
34,303
4
DEBTORS
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
268,063
421,479
Other debtors
7,116
20,121
275,179
441,600
5
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2026
2025
£
£
Trade creditors
125,586
204,112
Corporation tax
179
49,129
Other taxation and social security
25,882
36,490
Other creditors
14,879
21,085
166,526
310,816
PHOENIX INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
5
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
(Continued)
- 7 -

Included within other creditors are hire purchase obligations totalling £9,542 (2025 - £17,157) that are secured on the assets to which they relate.

6
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2026
2025
£
£
Other creditors
9,256
4,499

Included within other creditors are hire purchase obligations totalling £9,256 (2025 - £4,499) that are secured on the assets to which they relate.

7
OPERATING LEASE COMMITMENTS
As lessee

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

2026
2025
£
£
Total commitments
75,344
97,282
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