Company registration number 05372820 (England and Wales)
Phenomenal Fireworks Limited
Unaudited Financial Statements
For the year ended 28 February 2026
Phenomenal Fireworks Limited
Company information
Directors
Mr N G Byrom
Mr A J Slinn
Secretary
Ms S Norris
Company number
05372820
Registered office
High Barn Wood Lane
Heskin
Chorley
Lancashire
United Kingdom
PR7 5NU
Accountants
DJH Bury Limited
The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN
Phenomenal Fireworks Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
Phenomenal Fireworks Limited
Statement Of Financial Position
As at 28 February 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
4
8,027
41,183
Tangible assets
5
21,602
43,389
29,629
84,572
Current assets
Stocks
64,786
61,307
Debtors
6
35,091
34,461
Cash at bank and in hand
39,250
5,479
139,127
101,247
Creditors: amounts falling due within one year
7
(94,043)
(107,494)
Net current assets/(liabilities)
45,084
(6,247)
Total assets less current liabilities
74,713
78,325
Creditors: amounts falling due after more than one year
8
(20,639)
(26,661)
Provisions for liabilities
(5,400)
(10,848)
Net assets
48,674
40,816
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
48,574
40,716
Total equity
48,674
40,816
Phenomenal Fireworks Limited
Statement Of Financial Position (continued)
As at 28 February 2026
- 2 -

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.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 July 2026 and are signed on its behalf by:
Mr A J Slinn
Director
Company registration number 05372820 (England and Wales)
Phenomenal Fireworks Limited
Notes to the financial statements
For the year ended 28 February 2026
- 3 -
1
Accounting policies
Company information

Phenomenal Fireworks Limited is a private company limited by shares incorporated in England and Wales. The registered office is High Barn Wood Lane, Heskin, Chorley, Lancashire, United Kingdom, PR7 5NU.

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
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

1.3
Turnover

Turnover represents the value of the sale of goods provided, net of value added tax and net of discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

1.4
Intangible fixed assets - goodwill

Goodwill is measured at cost less accumulative amortisation and any accumulative impairment losses.

Goodwill is being amortised in equal annual instalments over its estimated economic life of 5 years.

1.5
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 provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements
10% on cost
Plant and equipment
20% on cost
Computers
20% on cost

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.

The residual values, estimated useful lives and depreciation method of tangible fixed assets are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Phenomenal Fireworks Limited
Notes to the financial statements (continued)
For the year ended 28 February 2026
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stocks sold is recognised as an expense in the period in which the related revenue is recognised.

1.8
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.

1.9
Financial instruments

The company 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 company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

1.10
Equity instruments

Equity instruments issued by the company 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 company.

Phenomenal Fireworks Limited
Notes to the financial statements (continued)
For the year ended 28 February 2026
1
Accounting policies
(Continued)
- 5 -
1.11
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

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.

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 income statement, 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.

1.12
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.

1.13
Retirement benefits

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

Phenomenal Fireworks Limited
Notes to the financial statements (continued)
For the year ended 28 February 2026
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may defer from those estimates.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below:

Estimating the useful economic life of an asset and the anticipated residual value are key in calculating an appropriate depreciation charge.

3
Employees

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

2026
2025
Number
Number
Total
10
9
4
Intangible fixed assets
Goodwill
£
Cost
At 1 March 2025 and 28 February 2026
165,779
Amortisation and impairment
At 1 March 2025
124,596
Amortisation charged for the year
33,156
At 28 February 2026
157,752
Carrying amount
At 28 February 2026
8,027
At 28 February 2025
41,183
Phenomenal Fireworks Limited
Notes to the financial statements (continued)
For the year ended 28 February 2026
- 7 -
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 March 2025
20,248
176,569
196,817
Additions
-
0
1,261
1,261
At 28 February 2026
20,248
177,830
198,078
Depreciation and impairment
At 1 March 2025
8,058
145,370
153,428
Depreciation charged in the year
2,025
21,023
23,048
At 28 February 2026
10,083
166,393
176,476
Carrying amount
At 28 February 2026
10,165
11,437
21,602
At 28 February 2025
12,190
31,199
43,389
6
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
26,916
26,265
Amounts owed by related parties
6,160
4,480
Other debtors
2,015
3,716
35,091
34,461
7
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
6,021
5,872
Trade creditors
-
0
240
Amounts owed to related parties
14,242
15,910
Taxation and social security
53,988
54,500
Other creditors
19,792
30,972
94,043
107,494
Phenomenal Fireworks Limited
Notes to the financial statements (continued)
For the year ended 28 February 2026
- 8 -
8
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
20,639
26,661
Creditors which fall due after five years are payable as follows:
Payable by instalments
-
1,648
9
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
102,486
106,449
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