Phoenix Transport Group Limited - Accounts to registrar (filleted) - small 17.3

PHOENIX TRANSPORT GROUP LIMITED - Company Information

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REGISTERED NUMBER: 05520871 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2017

FOR

PHOENIX TRANSPORT GROUP LIMITED

Page

Company Information

Balance Sheet

Notes to the Financial Statements

Chartered Accountants' Report

DIRECTORS:

J V Flockhart

R L Flockhart

SECRETARY:

J V Flockhart

REGISTERED OFFICE:

Phoenix House, River Gardens

North Feltham Trading Estate

Feltham

Middlesex

TW14 0RD

REGISTERED NUMBER:

05520871 (England and Wales)

ACCOUNTANTS:

Harris & Trotter LLP

Chartered Accountants

64 New Cavendish Street

London

W1G 8TB

FIXED ASSETS

Investments

200

CURRENT ASSETS

Debtors

92,020

115,235

Cash at bank

4,999

23,994

97,019

139,229

CREDITORS

Amounts falling due within one year

70,794

82,521

NET CURRENT ASSETS

26,225

56,708

TOTAL ASSETS LESS CURRENT
LIABILITIES

26,425

56,908

CREDITORS

Amounts falling due after more than one year

30,483

NET ASSETS

26,425

CAPITAL AND RESERVES

Called up share capital

201

Retained earnings

26,224

SHAREHOLDERS' FUNDS

26,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 22nd November 2017 and were signed on its behalf
by:

J V Flockhart - Director

R L Flockhart - Director

1.	STATUTORY INFORMATION

Phoenix Transport Group 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Phoenix Transport Group Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

COST

At 1st April 2016

and 31st March 2017

200

NET BOOK VALUE

At 31st March 2017

200

At 31st March 2016

200

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Phoenix Truck & Trailer Maintenance Limited

Registered office: United Kingdom

Nature of business: Repair and maintenance of commercial vehicles

Class of shares:

holding

Ordinary

100.00

2017

2016

Aggregate capital and reserves

441,330

268,995

Profit for the year

197,335

188,115

Paige Hire Fleet Management Limited

Registered office: United Kingdom

Nature of business: Hire of commercial vehicles

Class of shares:

holding

Ordinary

100.00

2017

2016

Aggregate capital and reserves

96,090

91,338

Profit for the year

4,752

4,518

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Amounts owed by group undertakings

92,020

115,235

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Bank loans and overdrafts (see note 7)

30,769

57,521

Amounts owed to group undertakings

40,025

Accruals and deferred income

25,000

70,794

82,521

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2017

2016

Bank loans (see note 7)

30,483

LOANS

An analysis of the maturity of loans is given below:

2017

2016

Amounts falling due within one year or on demand:

Bank loans

30,769

57,521

Amounts falling due between one and two years:

Bank loans - 1-2 years

30,483

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

Bank loans

30,769

88,004

The bank loan and overdraft are secured by a personal guarantee for £140,000 provided by the director J V Flockhart

supported by a first legal charge on freehold premises occupied by the company and owned by the director, J V

Flockhart and unlimited guarantees and debentures with the company and the subsidiaries.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

201

Ordinary shares

£1

201

10.	RELATED PARTY DISCLOSURES

During the year the company recharged bank loan interest of £2,766 (2016 - 5,392) and bank charges of £100 (2016

- £53) to its subsidiary Phoenix Truck & Trailer Maintenance Limited.

During the year the company received dividends amounting to £25,000 (2016 - £25,000) from Phoenix Truck &

Trailer Maintenance Limited.

At the year end, the company was owed £92,020 (2016 - £73,179) 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 £40,024 (2016 -

£42,056 owed by Paige Hire Fleet Management to the company) the loan is interest free with no fixed repayment

date.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J V Flockhart.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Phoenix Transport Group Limited for the year ended 31st March 2017 which comprise the Income Statement,

Balance Sheet, and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Phoenix Transport Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Phoenix Transport Group Limited and state those matters that we have agreed to state to the Board of Directors of Phoenix Transport Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phoenix Transport Group Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Phoenix Transport Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Phoenix Transport Group Limited. You consider that Phoenix Transport Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Phoenix Transport Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Harris & Trotter LLP

Chartered Accountants

64 New Cavendish Street

London

W1G 8TB

22nd November 2017