ACCOUNTS - Final Accounts preparation

PHOENIX TRANSPORT GROUP LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The 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.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-04-01 05520871 2017-04-01 2018-03-31 05520871 2016-04-01 2017-03-31 05520871 2018-03-31 05520871 2017-03-31 05520871 c:Director1 2017-04-01 2018-03-31 05520871 c:Director2 2017-04-01 2018-03-31 05520871 d:CurrentFinancialInstruments 2018-03-31 05520871 d:CurrentFinancialInstruments 2017-03-31 05520871 d:Non-currentFinancialInstruments 2018-03-31 05520871 d:Non-currentFinancialInstruments 2017-03-31 05520871 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 05520871 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 05520871 d:ShareCapital 2018-03-31 05520871 d:ShareCapital 2017-03-31 05520871 d:RetainedEarningsAccumulatedLosses 2018-03-31 05520871 d:RetainedEarningsAccumulatedLosses 2017-03-31 05520871 c:FRS102 2017-04-01 2018-03-31 05520871 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 05520871 c:FullAccounts 2017-04-01 2018-03-31 05520871 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 05520871 d:Subsidiary1 2017-04-01 2018-03-31 05520871 d:Subsidiary1 1 2017-04-01 2018-03-31 05520871 d:Subsidiary2 2017-04-01 2018-03-31 05520871 d:Subsidiary2 1 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure

Registered number: 05520871

PHOENIX TRANSPORT GROUP LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2018

Phoenix Transport Group Limited

REGISTERED NUMBER: 05520871

BALANCE SHEET

AS AT 31 MARCH 2018

		2018		2017
Note		£		£

Fixed assets
Investments	4		200		200
			200		200
Current assets
Debtors: amounts falling due within one year	5	80,587		92,020
Cash at bank and in hand		762		4,999
		81,349		97,019
Creditors: amounts falling due within one year	6	(55,124)		(70,794)
Net current assets			26,225		26,225
Total assets less current liabilities			26,425		26,425

Net assets			26,425		26,425

Capital and reserves
Called up share capital	7	201	201
Profit and loss account		26,224	26,224
		26,425	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 2018

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	R L Flockhart
Director	Director

Date: 20 December 2018

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 2018

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 (2017 - 2).

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Phoenix Transport Group Limited

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2017	200
	At 31 March 2018	200

	Net book value
	At 31 March 2018	200
	At 31 March 2017	200

Subsidiary undertakings
The company's investments at the Balance sheet date in the share capital of companies include the following:
Name	Class of shares	Holding	Principal activity

	Phoenix Truck & Trailer Maintenance Limited	Ordinary	100%	Repair and maintenance of commercial vehicles
	Paige Hire Fleet Management Limited	Ordinary	100%	Hire of commercial vehicles

The aggregate of the share capital and reserves as at 31 March 2018 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
	Aggregate of share capital and reserves	Profit/(loss)
	£	£

Phoenix Truck & Trailer Maintenance Limited	481,130	94,800
Paige Hire Fleet Management Limited	99,593	3,503
	580,723	98,303

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Phoenix Transport Group Limited

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Debtors

					2018	2017
					£	£


Amounts owed by group undertakings	80,587	92,020
	80,587	92,020

6.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Bank loans	-	30,769
Amounts owed to group undertakings	55,124	40,025
	55,124	70,794

7.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

201 (2017 - 201) Ordinary shares of £1.00 each	201	201

Related party transactions

During the year the company recharged bank loan interest of £437 (2017 - £2,766) and bank charges of £132 (2017 - £100) to its subsidiary Phoenix Truck & Trailer Maintenance Limited.
During the year the company received dividends amounting to £55,000 (2017 - £25,000) from Phoenix Truck & Trailer Maintenance Limited.
At the year end, the company was owed £80,587 (2017 - £92,020) 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 £55,124 (2017 - £40,025). 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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