Company Registration No. 10765773 (England and Wales)
Result Plan Ltd
Unaudited accounts
for the year ended 31 May 2022
Result Plan Ltd
Unaudited accounts
Contents
Result Plan Ltd
Company Information
for the year ended 31 May 2022
Company Number
10765773 (England and Wales)
Registered Office
16 Commercial Road
Newport
NP20 2PA
Accountants
Evans Entwistle
Venta House
Maes-glas
Newport
NP20 2NS
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Result Plan Ltd
for the year ended 31 May 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Result Plan Ltd for the year ended 31 May 2022 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
Venta House
Maes-glas
Newport
NP20 2NS
15 June 2022
Result Plan Ltd
Statement of financial position
as at 31 May 2022
Tangible assets
617,246
47,042
Cash at bank and in hand
14,453
110,338
Creditors: amounts falling due within one year
(312,451)
(63,092)
Net current (liabilities)/assets
(203,636)
69,346
Total assets less current liabilities
458,146
116,388
Creditors: amounts falling due after more than one year
(285,902)
(50,000)
Provisions for liabilities
Deferred tax
(14,234)
(6,141)
Called up share capital
3
3
Revaluation reserve
(116,854)
-
Capital redemption reserve
(15,612)
(15,612)
Profit and loss account
290,473
75,856
Shareholders' funds
158,010
60,247
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 June 2022 and were signed on its behalf by
Leon Goodman
Director
Company Registration No. 10765773
Result Plan Ltd
Notes to the Accounts
for the year ended 31 May 2022
Result Plan Ltd is a private company, limited by shares, registered in England and Wales, registration number 10765773. The registered office is 16 Commercial Road, Newport, NP20 2PA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 May 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2020.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
4 Years straight Line
Fixtures & fittings
5 Years straight Line
Computer equipment
5 Years Straight Line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Result Plan Ltd
Notes to the Accounts
for the year ended 31 May 2022
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2021
-
17,950
36,946
3,837
58,733
Additions
366,666
170,000
53,172
-
589,838
At 31 May 2022
366,666
187,950
90,118
3,837
648,571
At 1 June 2021
-
374
10,756
561
11,691
Charge for the year
-
8,029
10,839
766
19,634
At 31 May 2022
-
8,403
21,595
1,327
31,325
At 31 May 2022
366,666
179,547
68,523
2,510
617,246
At 31 May 2021
-
17,576
26,190
3,276
47,042
5
Investments
Other investments
Valuation at 1 June 2021
-
Fair value adjustments
(116,854)
Valuation at 31 May 2022
44,536
The balance represents the GBP equivalent value of crypto currency held at the balance sheet date.
6
Debtors: amounts falling due within one year
2022
2021
Result Plan Ltd
Notes to the Accounts
for the year ended 31 May 2022
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
21,195
-
Obligations under finance leases and hire purchase contracts
153,000
-
Trade creditors
40,982
31,217
Taxes and social security
47,912
20,496
Other creditors
29,751
721
Loans from directors
17,611
9,658
8
Creditors: amounts falling due after more than one year
2022
2021
9
Deferred taxation
2022
2021
Accelerated capital allowances
14,234
6,141
Provision at start of year
6,141
-
Charged to the profit and loss account
8,093
6,141
Provision at end of year
14,234
6,141
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
11
Average number of employees
During the year the average number of employees was 14 (2021: 10).