| THE PHOENIX FREEHOLD LIMITED |
| Registered number: |
08542476 |
| Balance Sheet |
| as at 31 December 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
438,000 |
|
|
438,000 |
|
| Current assets |
| Debtors |
4 |
|
301,188 |
|
|
315,100 |
|
| Creditors: amounts falling due within one year |
5 |
|
(21,057) |
|
|
(60,495) |
|
| Net current assets |
|
|
|
280,131 |
|
|
254,605 |
|
| Total assets less current liabilities |
|
|
|
718,131 |
|
|
692,605 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(362,000) |
|
|
(362,000) |
|
|
|
| Net assets |
|
|
|
356,131 |
|
|
330,605 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Profit and loss account |
|
|
|
356,131 |
|
|
330,605 |
|
| Members' funds |
|
|
|
356,131 |
|
|
330,605 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| G A Jackson |
| Director |
| Approved by the board on 24 June 2026 |
|
| THE PHOENIX FREEHOLD LIMITED |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents ground rents and other rental income receivable during the year. |
|
|
Tangible fixed assets |
|
The freehold property interest in land and building is stated at historic cost and is not depreciated. The directors conduct an impairment review on an annual basis. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 January 2025 |
438,000 |
|
At 31 December 2025 |
438,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2025 |
438,000 |
|
At 31 December 2024 |
438,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
438,000 |
|
438,000 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
438,000 |
|
438,000 |
|
|
|
|
|
|
|
|
|
|
In 2016 the Company completed the acquisition of the freehold interest in the property known as The Phoenix, 8 Bird Street, London, W1U 1BU for the benefit of participating Members, under a scheme to ensure the collective enfranchisement of The Phoenix. |
|
|
The directors do not consider the freehold interest to be impaired. |
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Ground rents receivable |
|
|
|
|
26,700 |
|
2,450 |
|
Due from Service charge funds |
274,488 |
|
312,650 |
|
|
|
|
|
|
301,188 |
|
315,100 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Taxation and social security costs |
10,281 |
|
10,677 |
|
Accruals |
10,776 |
|
49,818 |
|
|
|
|
|
|
21,057 |
|
60,495 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Contributions from lessees |
287,000 |
|
287,000 |
|
Other creditors |
75,000 |
|
75,000 |
|
|
|
|
|
|
362,000 |
|
362,000 |
|
|
|
|
|
|
|
|
|
|
The contributions received from lessees which were utilised in the purchase of the freehold interest were previously shown in the accounts as a capital reserve. The directors have decided that his presentation was incorrect and should be shown as a long term creditor. |
|
| 7 |
Related party transactions |
|
|
There are no related party transactions to disclose, other than the directors were leaseholders and paid service charges and ground rents during the year. |
|
|
| 8 |
Other information |
|
|
THE PHOENIX FREEHOLD LIMITED is a private company limited by guarantee and incorporated in England. Its registered office is: |
|
Associates House |
|
118A East Barnet Road |
|
Barnet |
|
Herts |
|
EN4 8RE |