Company Registration No. 11097261 (England and Wales)
Phoenix Nursery Group Limited
Unaudited accounts
for the period from 5 December 2017 to 30 March 2019
Phoenix Nursery Group Limited
Unaudited accounts
Contents
Phoenix Nursery Group Limited
Company Information
for the period from 5 December 2017 to 30 March 2019
Directors
Mr I J Craggs
Miss Z M Williams
Company Number
11097261 (England and Wales)
Registered Office
Suite 85 Cassidy House
Station Road
Chester
Cheshire
CH1 3DW
Accountants
My Tax Point
12 Nicholas Street
Chester
Cheshire
CH1 2NX
Phoenix Nursery Group Limited
Statement of financial position
as at 30 March 2019
Cash at bank and in hand
943
Creditors: amounts falling due within one year
(187,492)
Net current liabilities
(157,157)
Total assets less current liabilities
(140,899)
Provisions for liabilities
Called up share capital
100
Profit and loss account
(144,088)
Shareholders' funds
(143,988)
For the period ending 30 March 2019 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.
Approved by the Board on 6 January 2020.
Mr I J Craggs
Director
Company Registration No. 11097261
Phoenix Nursery Group Limited
Notes to the Accounts
for the period from 5 December 2017 to 30 March 2019
Phoenix Nursery Group Limited is a private company, limited by shares, registered in England and Wales, registration number 11097261. The registered office is Suite 85 Cassidy House, Station Road, Chester, Cheshire, CH1 3DW.
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 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.
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
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Computer equipment
33% on cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
Phoenix Nursery Group Limited
Notes to the Accounts
for the period from 5 December 2017 to 30 March 2019
At the year end the company's liabilities exceeded its assets by £143,988 and as such the company's ability to continue to operate depends on the support of its' Directors. The Financial Statements have been prepared on a going concern basis as the Directors intend to give their support for the foreseeable future.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 5 December 2017
-
-
-
-
Additions
15,000
3,713
3,335
22,048
At 30 March 2019
15,000
3,713
3,335
22,048
Charge for the period
3,750
928
1,112
5,790
At 30 March 2019
3,750
928
1,112
5,790
At 30 March 2019
11,250
2,785
2,223
16,258
Accrued income and prepayments
550
6
Creditors: amounts falling due within one year
2019
Taxes and social security
2,634
Loans from directors
136,186
7
Operating lease commitments
2019
At 30 March 2019 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
52,500
Phoenix Nursery Group Limited
Notes to the Accounts
for the period from 5 December 2017 to 30 March 2019
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
The loans were unsecured and interest free.
9
Transactions with related parties
The directors loaned to the company a total of £178,896 and was repaid a total of £42,710 in the period. The balance owing to the director at 31.03.2019 is £136,186 and is repayable on demand.
10
Average number of employees
During the period the average number of employees was 17.
