Plasbuild Limited - Filleted accounts

Registered number

08281713

Plasbuild Limited

Filleted Accounts

31 March 2023

Plasbuild Limited
Registered number:		08281713
Balance Sheet
as at 31 March 2023

Notes			2023			2022
£				£
Fixed assets
Tangible assets	3		17,313			19,236

Current assets
Stocks		120,000			120,000
Debtors	4	12,534			10,521
Cash at bank and in hand		78,152			47,961
		210,686			178,482

Creditors: amounts falling due within one year	5	(114,713)			(91,457)

Net current assets			95,973			87,025

Total assets less current liabilities			113,286			106,261


Provisions for liabilities			(3,290)			(3,655)


Net assets			109,996			102,606

Capital and reserves
Called up share capital			1			1
Profit and loss account			109,995			102,605

Shareholders' funds			109,996			102,606

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.




Amerjeet Singh Balagan
Director
Approved by the board on 4 October 2023

Plasbuild Limited
Notes to the Accounts
for the year ended 31 March 2023


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. 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:

	Plant and machinery	25% straight line
	Fixtures, fittings, tools and equipment	25% straight line

	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.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2023		2022
Number					Number

	Average number of persons employed by the company			3		3


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 April 2022	7,251		25,917		33,168
	At 31 March 2023	7,251		25,917		33,168

	Depreciation
	At 1 April 2022	7,251		6,681		13,932
	Charge for the year	-		1,923		1,923
	At 31 March 2023	7,251		8,604		15,855

	Net book value
	At 31 March 2023	-		17,313		17,313
	At 31 March 2022	-		19,236		19,236


4	Debtors			2023		2022
£					£

	Trade debtors			9,862		9,014
	Other debtors			2,672		1,507
				12,534		10,521


5	Creditors: amounts falling due within one year			2023		2022
£					£

	Trade creditors			87,630		66,444
	Taxation and social security costs			9,755		7,142
	Other creditors			17,328		17,871
				114,713		91,457


6	Other information

	Plasbuild Limited is a private company limited by shares and incorporated in England. Its registered office is:
	C/O Taxlite
	6 Soho Road
	Birmingham
	B21 9BH