Phoenix Wharf Design Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09364358 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

PHOENIX WHARF DESIGN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Gwyther

P G Atherton

C E Menzies

S L Rowe

REGISTERED OFFICE:

Unit 1.1

Paintworks

Bath Road

Bristol

BS4 3EH

REGISTERED NUMBER:

09364358 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Tangible assets

4

2,211

6,377

CURRENT ASSETS

Debtors

5

44,646

53,664

Cash at bank

2,316

8,602

46,962

62,266

CREDITORS

Amounts falling due within one year

6

30,972

49,635

NET CURRENT ASSETS

15,990

12,631

TOTAL ASSETS LESS CURRENT LIABILITIES

18,201

19,008

PROVISIONS FOR LIABILITIES

420

1,148

NET ASSETS

17,781

17,860

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

17,681

17,760

SHAREHOLDERS' FUNDS

17,781

17,860

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 31 May 2021 and were signed on its behalf by:

S L Rowe - Director

1.	STATUTORY INFORMATION

Phoenix Wharf Design 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.

Turnover

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year 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 year 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.

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 year was 8 (2019 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2020

and 31 December 2020

821

16,059

16,880

DEPRECIATION

At 1 January 2020

748

9,755

10,503

Charge for year

73

4,093

4,166

At 31 December 2020

821

13,848

14,669

NET BOOK VALUE

At 31 December 2020

-

2,211

2,211

At 31 December 2019

73

6,304

6,377

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

42,420

53,454

Other debtors

2,226

210

44,646

53,664

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

378

610

Taxation and social security

29,679

30,535

Other creditors

915

18,490

30,972

49,635

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

75

Ordinary A

£1.00

75

75

25

Ordinary B

£1.00

25

25

100

100

8.

RESERVES

Retained

earnings

£

At 1 January 2020

17,760

Profit for the year

39,495

Dividends

(39,574

)

At 31 December 2020

17,681

9.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £42,420 (2019: £47,460) by Ignition DG Limited which is included in trade debtors. In addition, the company owed £378 (2019: £610) to Ignition DG Limited and this amount is included within trade creditors. Ignition DG Limited is a subsidiary in the same group as the company.

Unless otherwise stated all transactions were conducted under normal market conditions.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C E Menzies.

11.	ULTIMATE PARENT COMPANY

The Istoria Group Limited is regarded by the directors as being the company's ultimate parent company. The Istoria Group Limited's registered office is the same as the company.