REGISTERED NUMBER: SC435864 (Scotland)

SHERWOOD PHOENIX LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S Pringle

Mr J Rodden

REGISTERED OFFICE:

Office 1498, 3 Fitzroy Place 1/1

Sauchiehall Street

Glasgow

Lanarkshire

G3 7RH

REGISTERED NUMBER:

SC435864 (Scotland)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BANKERS:

Natwest

9 Church Street

Mansfield

Nottinghamshire

NG18 1HP

FIXED ASSETS

Intangible assets

5

6,060

13,980

Tangible assets

6

127,119

140,851

133,179

154,831

CURRENT ASSETS

Stocks

7

854,959

826,533

Debtors

8

322,611

171,091

Cash at bank and in hand

69,194

58,927

1,246,764

1,056,551

CREDITORS

Amounts falling due within one year

9

452,080

311,898

NET CURRENT ASSETS

794,684

744,653

TOTAL ASSETS LESS CURRENT LIABILITIES

927,863

899,484

CREDITORS

Amounts falling due after more than one year

10

(332,153

)

(292,647

)

PROVISIONS FOR LIABILITIES

(11,856

)

(15,289

)

NET ASSETS

583,854

591,548

CAPITAL AND RESERVES

Called up share capital

11

4

4

Retained earnings

583,850

591,544

SHAREHOLDERS' FUNDS

583,854

591,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 31 July 2026 and were signed on its behalf by:

Mr S Pringle - Director

Mr J Rodden - Director

1.	STATUTORY INFORMATION

Sherwood Phoenix Limited is a private company, limited by shares , registered in Scotland. 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The significant judgements and estimates are as follows:

The depreciation policies are set in line with the estimated useful life of the assets, given the use of those assets and changes in technology or legislation. The rates are annually reviewed in line to what the directors believe the assets are worth taken into account the income streams generated by those assets.

Turnover

Turnover represents the value excluding Value Added Tax of musical instruments sold to customers during the year. In respect of goods sold, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of seven years.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

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.

Financial instruments

Financial instruments 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 8 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 November 2024

and 31 October 2025

52,800

AMORTISATION

At 1 November 2024

38,820

Amortisation for year

7,920

At 31 October 2025

46,740

NET BOOK VALUE

At 31 October 2025

6,060

At 31 October 2024

13,980

6.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

£

£

£

COST

At 1 November 2024

and 31 October 2025

79,695

700

44,369

DEPRECIATION

At 1 November 2024

-

-

24,647

Charge for year

-

-

2,961

At 31 October 2025

-

-

27,608

NET BOOK VALUE

At 31 October 2025

79,695

700

16,761

At 31 October 2024

79,695

700

19,722

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 November 2024

and 31 October 2025

81,854

25,554

232,172

DEPRECIATION

At 1 November 2024

48,155

18,519

91,321

Charge for year

8,426

2,345

13,732

At 31 October 2025

56,581

20,864

105,053

NET BOOK VALUE

At 31 October 2025

25,273

4,690

127,119

At 31 October 2024

33,699

7,035

140,851

7.

STOCKS

2025

2024

£

£

Stocks

854,959

826,533

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

774

-

Amounts owed by participating interests

222,395

145,095

Other debtors

67,125

-

Prepayments and accrued income

32,317

25,996

322,611

171,091

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

54,123

35,380

Hire purchase contracts

5,036

9,038

Trade creditors

42,507

57,950

Corporation tax

26,842

32,086

Social security and other taxes

1,379

2,616

VAT

21,914

10,410

Credit card

76

2,688

Wages control account

26

26

Directors' current accounts

286,119

156,835

Accruals and deferred income

14,058

4,869

452,080

311,898

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

47,963

35,503

Bank loans - 2-5 years

143,889

36,234

Bank loans more 5 yr by instal

119,126

189,368

Hire purchase contracts

21,175

31,542

332,153

292,647

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

119,126

189,368

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

4

4

12.	RELATED PARTY DISCLOSURES

At the balance sheet date 31 October 2025 there was an amount due from related parties under common control of £222,395 (2024:£145,095).