Registered number
07258365
PL INFRASTRUCTURE LTD
Filleted Accounts
31 December 2022
PL INFRASTRUCTURE LTD
Registered number: 07258365
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 573,268 703,182
Current assets
Stocks 4,386,613 2,853,134
Debtors 4 1,004,505 2,968,729
Cash at bank and in hand 132,454 283,509
5,523,572 6,105,372
Creditors: amounts falling due within one year 5 (3,726,522) (4,359,232)
Net current assets 1,797,050 1,746,140
Total assets less current liabilities 2,370,318 2,449,322
Creditors: amounts falling due after more than one year 6 (346,233) (543,880)
Provisions for liabilities (3,045) (3,045)
Net assets 2,021,040 1,902,397
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,020,940 1,902,297
Shareholders' funds 2,021,040 1,902,397
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P W Lackey Y O'Hara
Director Director
Approved by the board on 27 September 2023
PL INFRASTRUCTURE LTD
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 18 15
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2022 1,431,919 118,124 1,550,043
Additions 223,500 - 223,500
Disposals (380,215) - (380,215)
At 31 December 2022 1,275,204 118,124 1,393,328
Depreciation
At 1 January 2022 747,493 99,368 846,861
Charge for the year 148,555 4,690 153,245
On disposals (180,046) - (180,046)
At 31 December 2022 716,002 104,058 820,060
Net book value
At 31 December 2022 559,202 14,066 573,268
At 31 December 2021 684,426 18,756 703,182
4 Debtors 2022 2021
£ £
Trade debtors 863,763 2,513,119
Other debtors 140,742 455,610
1,004,505 2,968,729
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 302,172 522,211
Obligations under finance lease and hire purchase contracts 87,071 -
Trade creditors 2,051,517 3,131,729
Taxation and social security costs 23,478 173,204
Other creditors 1,262,284 532,088
3,726,522 4,359,232
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 193,209 -
Obligations under finance lease and hire purchase contracts 153,024 543,880
346,233 543,880
7 Other information
PL INFRASTRUCTURE LTD is a private company limited by shares and incorporated in England. Its registered office is:
Portland House
1st Floor Oak Green
Earl Road
Cheadle
SK8 6QL
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