1 June 2021 false Taxfiler 2022.8.3 10765773business:PrivateLimitedCompanyLtd2021-06-012022-05-31 107657732021-05-31 107657732021-06-012022-05-31 10765773business:AuditExemptWithAccountantsReport2021-06-012022-05-31 10765773business:FullAccounts2021-06-012022-05-31 107657732022-05-31 10765773business:Director12021-06-012022-05-31 10765773business:RegisteredOffice2021-06-012022-05-31 107657732021-05-31 10765773core:WithinOneYear2022-05-31 10765773core:WithinOneYear2021-05-31 10765773core:AfterOneYear2022-05-31 10765773core:AfterOneYear2021-05-31 10765773core:ShareCapital2022-05-31 10765773core:ShareCapital2021-05-31 10765773core:RevaluationReserve2022-05-31 10765773core:RevaluationReserve2021-05-31 10765773core:CapitalRedemptionReserve2022-05-31 10765773core:CapitalRedemptionReserve2021-05-31 10765773core:RetainedEarningsAccumulatedLosses2022-05-31 10765773core:RetainedEarningsAccumulatedLosses2021-05-31 10765773business:SmallEntities2021-06-012022-05-31 10765773countries:EnglandWales2021-06-012022-05-31 10765773core:MotorVehicles2021-06-012022-05-31 10765773core:FurnitureFittings2021-06-012022-05-31 10765773core:ComputerEquipment2021-06-012022-05-31 10765773core:LandBuildings2021-05-31 10765773core:MotorVehicles2021-05-31 10765773core:FurnitureFittings2021-05-31 10765773core:ComputerEquipment2021-05-31 10765773core:LandBuildings2021-06-012022-05-31 10765773core:LandBuildings2022-05-31 10765773core:MotorVehicles2022-05-31 10765773core:FurnitureFittings2022-05-31 10765773core:ComputerEquipment2022-05-31 10765773core:AdditionsToInvestments2022-05-31 10765773core:RevaluationsIncreaseDecreaseInInvestments2022-05-31 10765773core:AcceleratedTaxDepreciationDeferredTax2022-05-31 10765773core:AcceleratedTaxDepreciationDeferredTax2021-05-31 107657732020-05-31 107657732020-06-012021-05-31 10765773business:OrdinaryShareClass12021-06-012022-05-31 10765773business:OrdinaryShareClass12020-06-012021-05-31 iso4217:GBP xbrli:shares xbrli:pure
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
Page
- 2 -
Result Plan Ltd Company Information for the year ended 31 May 2022
Director
Leon Goodman
Company Number
10765773 (England and Wales)
Registered Office
16 Commercial Road Newport NP20 2PA
Accountants
Evans Entwistle Venta House Maes-glas Newport NP20 2NS
- 3 -
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
- 4 -
Result Plan Ltd Statement of financial position as at 31 May 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
617,246 
47,042 
Investments
44,536 
- 
661,782 
47,042 
Current assets
Debtors
94,362 
22,100 
Cash at bank and in hand
14,453 
110,338 
108,815 
132,438 
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)
Net assets
158,010 
60,247 
Capital and reserves
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
- 5 -
Result Plan Ltd Notes to the Accounts for the year ended 31 May 2022
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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.
- 6 -
Result Plan Ltd Notes to the Accounts for the year ended 31 May 2022
Leased assets
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 
Depreciation
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 
Net book value
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
- 
Additions
161,390 
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 
£ 
£ 
VAT
94,362 
22,100 
- 7 -
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 
Accruals
2,000 
1,000 
312,451 
63,092 
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
285,902 
50,000 
9
Deferred taxation
2022 
2021 
£ 
£ 
Accelerated capital allowances
14,234 
6,141 
2022 
2021 
£ 
£ 
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 
10
Share capital
2022 
2021 
£ 
£ 
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).
- 8 -