Phoenix Mechanical Engineers Ltd Filleted accounts for Companies House (small and micro)

PHOENIX MECHANICAL ENGINEERS LTD - Company Information

1 false false false false false false false false false true false false false false false false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 06852192 2021-04-01 2022-03-31 06852192 2022-03-31 06852192 2021-03-31 06852192 2020-04-01 2021-03-31 06852192 2021-03-31 06852192 core:PlantMachinery 2021-04-01 2022-03-31 06852192 core:FurnitureFittings 2021-04-01 2022-03-31 06852192 core:MotorVehicles 2021-04-01 2022-03-31 06852192 bus:LeadAgentIfApplicable 2021-04-01 2022-03-31 06852192 bus:Director1 2021-04-01 2022-03-31 06852192 bus:Director2 2021-04-01 2022-03-31 06852192 core:LandBuildings core:ShortLeaseholdAssets 2021-03-31 06852192 core:PlantMachinery 2021-03-31 06852192 core:FurnitureFittings 2021-03-31 06852192 core:MotorVehicles 2021-03-31 06852192 core:LandBuildings core:ShortLeaseholdAssets 2022-03-31 06852192 core:PlantMachinery 2022-03-31 06852192 core:FurnitureFittings 2022-03-31 06852192 core:MotorVehicles 2022-03-31 06852192 core:WithinOneYear 2022-03-31 06852192 core:WithinOneYear 2021-03-31 06852192 core:AfterOneYear 2022-03-31 06852192 core:AfterOneYear 2021-03-31 06852192 core:ShareCapital 2022-03-31 06852192 core:ShareCapital 2021-03-31 06852192 core:RetainedEarningsAccumulatedLosses 2022-03-31 06852192 core:RetainedEarningsAccumulatedLosses 2021-03-31 06852192 core:LandBuildings core:ShortLeaseholdAssets 2021-03-31 06852192 core:PlantMachinery 2021-03-31 06852192 core:FurnitureFittings 2021-03-31 06852192 core:MotorVehicles 2021-03-31 06852192 bus:Director1 2021-03-31 06852192 bus:Director1 2022-03-31 06852192 bus:Director1 2020-03-31 06852192 bus:Director1 2021-03-31 06852192 bus:Director1 2020-04-01 2021-03-31 06852192 bus:SmallEntities 2021-04-01 2022-03-31 06852192 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 06852192 bus:FullAccounts 2021-04-01 2022-03-31 06852192 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 06852192 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 06852192 core:OfficeEquipment 2021-04-01 2022-03-31 06852192 core:OfficeEquipment 2021-03-31 06852192 core:OfficeEquipment 2022-03-31

COMPANY REGISTRATION NUMBER: 06852192

Phoenix Mechanical Engineers Ltd

Filleted Unaudited Financial Statements

31 March 2022

Phoenix Mechanical Engineers Ltd

Financial Statements

Year ended 31 March 2022

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Phoenix Mechanical Engineers Ltd

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Phoenix Mechanical Engineers Ltd

Year ended 31 March 2022

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2022, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

HARPER SHELDON LIMITED Chartered Accountants

Midway House Staverton Technology Park Herrick Way, Staverton Cheltenham, Glos. GL51 6TQ

14 December 2022

Phoenix Mechanical Engineers Ltd

Statement of Financial Position

31 March 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	47,059	18,544

Current assets

Stocks		5,000	5,000
Debtors	6	11,653	9,402
Cash at bank and in hand		4,302	34,651
		--------	--------
		20,955	49,053

Creditors: amounts falling due within one year	7	58,265	28,209
		--------	--------
Net current (liabilities)/assets		( 37,310)	20,844
		--------	--------
Total assets less current liabilities		9,749	39,388

Creditors: amounts falling due after more than one year	8	28,477	35,000
		--------	--------
Net (liabilities)/assets		( 18,728)	4,388
		--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 18,730)	4,386
	--------	-------
Shareholders (deficit)/funds	( 18,728)	4,388
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Phoenix Mechanical Engineers Ltd

Statement of Financial Position (continued)

31 March 2022

These financial statements were approved by the board of directors and authorised for issue on 14 December 2022 , and are signed on behalf of the board by:

M P Newman	M J Cassidy
Director	Director

Company registration number: 06852192

Phoenix Mechanical Engineers Ltd

Notes to the Financial Statements

Year ended 31 March 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Staverton Technology Park , Herrick Way, Staverton, Cheltenham, Glos, GL51 6TQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	25% reducing balance
Fixtures & Fittings	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Office Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).

5. Tangible assets

	Leasehold Improvements	Plant & Machinery	Fixtures & Fittings	Motor Vehicles	Office Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2021	4,561	22,848	1,642	18,650	3,242	50,943
Additions	–	29,910	–	10,250	–	40,160
Disposals	–	–	–	( 3,800)	–	( 3,800)
	-------	--------	-------	--------	-------	--------
At 31 Mar 2022	4,561	52,758	1,642	25,100	3,242	87,303
	-------	--------	-------	--------	-------	--------
Depreciation
At 1 Apr 2021	–	20,557	969	8,152	2,721	32,399
Charge for the year	–	3,800	101	3,829	194	7,924
Disposals	–	–	–	( 79)	–	( 79)
	-------	--------	-------	--------	-------	--------
At 31 Mar 2022	–	24,357	1,070	11,902	2,915	40,244
	-------	--------	-------	--------	-------	--------
Carrying amount
At 31 Mar 2022	4,561	28,401	572	13,198	327	47,059
	-------	--------	-------	--------	-------	--------
At 31 Mar 2021	4,561	2,291	673	10,498	521	18,544
	-------	--------	-------	--------	-------	--------

6. Debtors

	2022	2021
	£	£
Trade debtors	9,619	9,402
Other debtors	2,034	–
	--------	-------
	11,653	9,402
	--------	-------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	11,118	–
Trade creditors	14,119	14,944
Corporation tax	–	2,034
Social security and other taxes	2,378	4,631
Other creditors	30,650	6,600
	--------	--------
	58,265	28,209
	--------	--------

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	28,477	35,000
	--------	--------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2022
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
M P Newman	( 3,136)	( 15,000)	( 18,136)
	-------	--------	--------

	2021
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
M P Newman	5,364	( 8,500)	( 3,136)
	-------	-------	-------