Company Registration No. 09496205 (England and Wales)
PHOENIX KAPITAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
PHOENIX KAPITAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PHOENIX KAPITAL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Investments
3
588,480
580,167
Current assets
Cash at bank and in hand
3,802
6,778
Creditors: amounts falling due within one year
5
(2,790)
(4,124)
Net current assets
1,012
2,654
Total assets less current liabilities
589,492
582,821
Capital and reserves
Called up share capital
6
580,168
580,168
Profit and loss reserves
9,324
2,653
Total equity
589,492
582,821
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 23 May 2018
L Ruel
Director
Company Registration No. 09496205
PHOENIX KAPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 2 -
1
Accounting policies
Company information
Phoenix Kapital Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
International House, 24 Holborn Viaduct, London, EC1A 2BN.
1.1
Accounting convention
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.3
Cash and cash equivalents
Cash at bank and in hand
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2017 - 1).
3
Fixed asset investments
2018
2017
£
£
Investments
580,167
580,167
Loans
8,313
-
588,480
580,167
PHOENIX KAPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 3 -
4
Subsidiaries
Details of the company's subsidiaries at 31 March 2018 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
EURL ACTI
France
Trading
Ordinary
100.00
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
-
1,140
Other creditors
2,790
2,984
2,790
4,124
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
580,168 Ordinary shares of £1 each
580,168
580,168
580,168
580,168
7
Directors' transactions
As at the year end the company owed £ 2,984 (2016: £ 2,984) to L Ruel, the director of the company. There is no interest accruing on this loan.
8
Controlling party
The controlling party is L.Ruel, by vertue of his shareholding.