Company Registration No. 03135186 (England and Wales)
Phoenix Electrical Engineering Services Limited
Unaudited accounts
for the year ended 31 December 2022
Phoenix Electrical Engineering Services Limited
Unaudited accounts
Contents
Phoenix Electrical Engineering Services Limited
Company Information
for the year ended 31 December 2022
Directors
Mrs K Trewern
Mr T Trewern
Mr K Trewern
Mr R Trewern
Company Number
03135186 (England and Wales)
Registered Office
Phoenix House
Scarne Mill Industrial Estate
Launceston
Cornwall
PL15 9GL
Accountants
The Fresh Accountancy Company Limited
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Phoenix Electrical Engineering Services Limited for the year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Phoenix Electrical Engineering Services Limited for the year ended
31 December 2022 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
The Fresh Accountancy Company Limited
Chartered Accountants
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
17 August 2023
Phoenix Electrical Engineering Services Limited
Statement of financial position
as at 31 December 2022
Tangible assets
130,178
44,355
Cash at bank and in hand
126,029
139,156
Creditors: amounts falling due within one year
(181,821)
(156,205)
Net current assets
289,964
173,643
Total assets less current liabilities
420,142
217,998
Creditors: amounts falling due after more than one year
(106,061)
(172,098)
Called up share capital
15
15
Profit and loss account
314,066
45,885
Shareholders' funds
314,081
45,900
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2023 and were signed on its behalf by
Mrs K Trewern
Director
Company Registration No. 03135186
Phoenix Electrical Engineering Services Limited
Notes to the Accounts
for the year ended 31 December 2022
Phoenix Electrical Engineering Services Limited is a private company, limited by shares, registered in England and Wales, registration number 03135186. The registered office is Phoenix House, Scarne Mill Industrial Estate, Launceston, Cornwall, PL15 9GL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Various rates depending on the life of the asset
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
During the year, the company incurred exceptional item costs and disruption to the business. These costs will continue in the following year and are in relation to a move of premises for the company
Phoenix Electrical Engineering Services Limited
Notes to the Accounts
for the year ended 31 December 2022
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 January 2022
-
197,721
197,721
Additions
22,706
103,711
126,417
Disposals
-
(124,075)
(124,075)
At 31 December 2022
22,706
177,357
200,063
At 1 January 2022
-
153,366
153,366
Charge for the year
-
22,733
22,733
On disposals
-
(106,214)
(106,214)
At 31 December 2022
-
69,885
69,885
At 31 December 2022
22,706
107,472
130,178
At 31 December 2021
-
44,355
44,355
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
16,193
21,590
Amounts falling due within one year
Trade debtors
150,090
141,404
Amounts due from group undertakings etc.
147,922
-
Accrued income and prepayments
28,424
29,788
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
45,455
45,455
Obligations under finance leases and hire purchase contracts
20,583
5,602
Trade creditors
35,036
33,997
Amounts owed to group undertakings and other participating interests
-
3,038
Taxes and social security
59,223
32,500
Loans from directors
1,023
-
Guarantees over the assets of directors have been given in respect of the companies borrowings.
Phoenix Electrical Engineering Services Limited
Notes to the Accounts
for the year ended 31 December 2022
7
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
106,061
151,515
Obligations under finance leases and hire purchase contracts
-
20,583
8
Operating lease commitments
2022
2021
At 31 December 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
37,750
65,000
Later than one year and not later than five years
48,000
73,750
9
Transactions with related parties
The company paid rent and management charges to K&T Holdings Limited for £89,000 (2021 - £85,000) a company which is controlled by the directors.
10
Average number of employees
During the year the average number of employees was 9 (2021: 10).