ACCOUNTS - Final Accounts preparation

PHOENIX TRANSPORT GROUP LIMITED - Company Information

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Registered number: 05520871

PHOENIX TRANSPORT GROUP LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2019

Phoenix Transport Group Limited

REGISTERED NUMBER: 05520871

BALANCE SHEET

AS AT 31 MARCH 2019

		2019		2018
Note		£		£

Fixed assets
Investments	4		200		200
			200		200
Current assets
Debtors: amounts falling due within one year	5	80,574		80,587
Bank and cash balances		20		762
		80,594		81,349
Creditors: amounts falling due within one year	6	(54,424)		(55,124)
Net current assets			26,170		26,225
Total assets less current liabilities			26,370		26,425

Net assets			26,370		26,425

Capital and reserves
Called up share capital	7	201	201
Profit and loss account		26,169	26,224
		26,370	26,425

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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.

The financial statements have been prepared 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.

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Phoenix Transport Group Limited

REGISTERED NUMBER: 05520871

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2019

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J V Flockhart

Director

Date: 23 December 2019

The notes on pages 3 to 5 form part of these financial statements.

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Phoenix Transport Group Limited

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

1.	General information

Phoenix Transport Group Limited, is a private company, limited by shares, registered in England and Wales. The company's registered office address is Phoenix House, River Gardens, Feltham, Middlesex, TW14 0RD.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.5

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).

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Phoenix Transport Group Limited

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2018	200
	At 31 March 2019	200

Debtors

					2019	2018
					£	£


Amounts owed by group undertakings	80,574	80,587
	80,574	80,587

6.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Amounts owed to group undertakings	54,424	55,124
	54,424	55,124

7.	Share capital
		2019	2018
		£	£

Allotted, called up and fully paid

201 (2018 - 201) Ordinary shares of £1.00 each	201	201

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Phoenix Transport Group Limited

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Related party transactions

During the year the company recharged bank loan interest of £nil (2018 - £437) and bank charges of £Nil (2018 - £132) to its subsidiary Phoenix Truck & Trailer Maintenance Limited.
During the year the company received dividends amounting to £40,000 (2018 - £55,000) from Phoenix Truck & Trailer Maintenance Limited.
At the year end, the company was owed £80,574 (2017 - £80,587) by Phoenix Truck & Trailer Maintenance Limited. The loan is interest free with no fixed repayment date.
Paige Hire Fleet Management Limited is a subsidiary of the company which provides working capital, in the form of loans, to the company. At the year end the company owed Paige Hire Fleet Management Limited £54,424 (2018 - £55,124). The loan is interest free with no fixed repayment date.

9.	Controlling party

The ultimate controlling party is J V Flockhart.

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