REGISTERED NUMBER: 05426479 (England and Wales)

Financial Statements

for the Period

3 March 2024 to 1 March 2025

for

Phoenix Speciality Oils Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J W Hammond

T C Bradshaw

A E Hammond

SECRETARY:

P A Thompson

REGISTERED OFFICE:

New Farm

Mansfield Road

Redhill

Nottinghamshire

NG5 8PB

REGISTERED NUMBER:

05426479 (England and Wales)

AUDITORS:

Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Intangible assets

4

20,924

23,362

Tangible assets

5

308,148

403,326

Investments

6

460,151

460,151

789,223

886,839

CURRENT ASSETS

Stocks

694,152

746,322

Debtors

7

577,631

432,790

Cash at bank and in hand

170,413

96,970

1,442,196

1,276,082

CREDITORS

Amounts falling due within one year

8

750,179

601,987

NET CURRENT ASSETS

692,017

674,095

TOTAL ASSETS LESS CURRENT LIABILITIES

1,481,240

1,560,934

CREDITORS

Amounts falling due after more than one year

9

(715,230

)

(828,635

)

PROVISIONS FOR LIABILITIES

11

(61,571

)

(81,326

)

NET ASSETS

704,439

650,973

CAPITAL AND RESERVES

Called up share capital

12

401,000

401,000

Retained earnings

303,439

249,973

SHAREHOLDERS' FUNDS

704,439

650,973

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 26 November 2025 and were signed on its behalf by:

A E Hammond - Director

1.	STATUTORY INFORMATION

Phoenix Speciality Oils Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about Phoenix Speciality Oils Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Grovetree Limited, New Farm, Redhill, Nottingham, Nottinghamshire, NG5 8PB.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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 machinery

-

15% straight line and 10% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Finished goods are valued at the cost of raw materials, labour and other overheads required to produce the finished product.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 22 (2024 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 3 March 2024

and 1 March 2025

9,378

55,000

64,378

AMORTISATION

At 3 March 2024

391

40,625

41,016

Charge for period

938

1,500

2,438

At 1 March 2025

1,329

42,125

43,454

NET BOOK VALUE

At 1 March 2025

8,049

12,875

20,924

At 2 March 2024

8,987

14,375

23,362

5.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

Motor

Computer

improvements

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 3 March 2024

36,161

1,386,058

30,400

32,607

1,485,226

Additions

-

7,632

-

1,067

8,699

Disposals

-

(516

)

-

-

(516

)

At 1 March 2025

36,161

1,393,174

30,400

33,674

1,493,409

DEPRECIATION

At 3 March 2024

18,272

1,019,055

22,800

21,773

1,081,900

Charge for period

3,616

90,712

6,080

3,338

103,746

Eliminated on disposal

-

(385

)

-

-

(385

)

At 1 March 2025

21,888

1,109,382

28,880

25,111

1,185,261

NET BOOK VALUE

At 1 March 2025

14,273

283,792

1,520

8,563

308,148

At 2 March 2024

17,889

367,003

7,600

10,834

403,326

Included within the net book value of fixed assets is £23,419 (2024: £27,022) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the period in respect of such assets amounted to £3,603 (2024: £3,603).

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 3 March 2024

and 1 March 2025

460,151

NET BOOK VALUE

At 1 March 2025

460,151

At 2 March 2024

460,151

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

268,050

148,335

Amounts owed by group undertakings

186,750

211,995

Other debtors

3,803

2,653

VAT

21,244

25,651

Prepayments and accrued income

97,784

44,156

577,631

432,790

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans

81,120

81,120

Hire purchase contracts (see note 10)

5,131

8,464

Trade creditors

129,943

92,930

Amounts owed to group undertakings

339,747

330,520

Tax

36,829

-

Social security and other taxes

21,044

20,283

Other creditors

3,736

3,192

Accruals and deferred income

132,629

65,478

750,179

601,987

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other loans - 2-5 years

177,840

258,960

Hire purchase contracts (see note 10)

-

5,131

Trade creditors

3,392

44,096

Amounts owed to group undertakings

533,998

520,448

715,230

828,635

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

5,131

8,464

Between one and five years

-

5,131

5,131

13,595

Non-cancellable

operating leases

2025

2024

£

£

Within one year

9,776

13,896

Between one and five years

185

9,941

9,961

23,837

Hire purchase contracts are secured over the related assets.

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

61,571

81,326

Deferred

tax

£

Balance at 3 March 2024

81,326

Provided during period

(19,755

)

Balance at 1 March 2025

61,571

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

400,000

Preference

£1

400,000

400,000

401,000

401,000

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Chadwick BA (Hons) FCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

14.	ULTIMATE CONTROLLING PARTY

Grovetree Limited is the ultimate controlling party as Phoenix Farm Group Limited has a controlling interest in Phoenix Speciality Oils Limited and Grovetree Limited has a controlling interest in Phoenix Farm Group Limited.

Grovetree Limited's registered office is New Farm, Redhill, Nottingham, Nottinghamshire, NG5 8PB. Group accounts can be obtained via Companies House.