Company Registration No. 11080919 (England and Wales)
BLUE PHOENIX CONSULTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
PAGES FOR FILING WITH REGISTRAR
BLUE PHOENIX CONSULTING LIMITED
COMPANY INFORMATION
Director
Mr I Maxted
Company number
11080919
Registered office
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Yorkshire Bank
Direct Banking
Timor House Mariner Court
Clydesbank Business Park
Glasgow
G81 2NR
BLUE PHOENIX CONSULTING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
BLUE PHOENIX CONSULTING LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BLUE PHOENIX CONSULTING LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2020
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Blue Phoenix Consulting Limited for the year ended 30 November 2020 which comprise, the 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 at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Blue Phoenix Consulting 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 Blue Phoenix Consulting Limited
and state those matters that we have agreed to state to the Board of Directors of Blue Phoenix Consulting Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blue Phoenix Consulting Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Blue Phoenix Consulting 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 Blue Phoenix Consulting Limited. You consider that Blue Phoenix Consulting 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 Blue Phoenix Consulting 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.
Ormerod Rutter Limited
24 February 2021
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BLUE PHOENIX CONSULTING LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2020
30 November 2020
- 2 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,894
2,492
Current assets
Debtors
4
7,892
8,640
Cash at bank and in hand
196
2,329
8,088
10,969
Creditors: amounts falling due within one year
5
(13,293)
(9,292)
Net current (liabilities)/assets
(5,205)
1,677
Total assets less current liabilities
1,689
4,169
Provisions for liabilities
6
(1,310)
(449)
Net assets
379
3,720
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
378
3,719
Total equity
379
3,720
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BLUE PHOENIX CONSULTING LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2020
30 November 2020
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 24 February 2021.
Mr I Maxted
Director
Company Registration No. 11080919
BLUE PHOENIX CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
- 4 -
1
Accounting policies
Company information
Blue Phoenix Consulting Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT
.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on reducing balance
Computers
33% on cost
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
BLUE PHOENIX CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2020
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1
(2019 - 1).
BLUE PHOENIX CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2020
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 December 2019
210
3,508
3,718
Additions
228
8,165
8,393
At 30 November 2020
438
11,673
12,111
Depreciation and impairment
At 1 December 2019
53
1,173
1,226
Depreciation charged in the year
96
3,895
3,991
At 30 November 2020
149
5,068
5,217
Carrying amount
At 30 November 2020
289
6,605
6,894
At 30 November 2019
157
2,335
2,492
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
5,250
8,640
Other debtors
2,642
-
7,892
8,640
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
484
140
Taxation and social security
5,423
7,363
Other creditors
7,386
1,789
13,293
9,292
6
Provisions for liabilities
2020
2019
£
£
Deferred tax liabilities
1,310
449
BLUE PHOENIX CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2020
- 7 -
7
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1
1
1
8
Ultimate controlling party
The ultimate controlling party is Mr I Maxted.