REGISTERED NUMBER: |
The Plan Group Limited |
Financial Statements |
for the Year Ended 31 December 2022 |
REGISTERED NUMBER: |
The Plan Group Limited |
Financial Statements |
for the Year Ended 31 December 2022 |
The Plan Group Limited (Registered number: 04108942) |
Contents of the Financial Statements |
for the year ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
The Plan Group Limited |
Company Information |
for the year ended 31 December 2022 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Chartered Accountants and Statutory Auditor |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
The Plan Group Limited (Registered number: 04108942) |
Balance Sheet |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Current assets |
Stocks |
Debtors | 7 |
Investments | 8 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 9 |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | 11 |
Net assets |
Capital and reserves |
Called up share capital | 12 |
Retained earnings | 13 |
Shareholders' funds |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
The Plan Group Limited (Registered number: 04108942) |
Notes to the Financial Statements |
for the year ended 31 December 2022 |
1. | Statutory information |
The Plan Group Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover comprises revenue recognised by the company in respect of insurance supplied during the year, exclusive of Insurance Premium Tax and trade discounts. |
Included in turnover is a management charge recognised by the company in respect of management services supplied during the year, exclusive of discounts and Value Added Taxes. |
Intangible assets |
Intangible fixed assets are amortised over the useful economic life of the asset. |
Website - 3 years |
Other intangible assets - 10 years |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Short leasehold - 15 years |
Office equipment - 4-10 years |
Motor vehicles - 4 years |
Government grants |
Government grants are recognised in accordance with the accruals model. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
The Plan Group Limited (Registered number: 04108942) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2022 |
2. | Accounting policies - continued |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Operating lease commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Current asset investments |
Current asset investments are stated at market value, with any gain or loss recognised through the income statement. |
Other operating income |
Following the emergence and spread of the coronavirus (COVID-19) and its financial effects on businesses worldwide, The Plan Group Limited have received furlough income of £40,478, in the form of government grant. |
The Plan Group Limited (Registered number: 04108942) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2022 |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Other |
intangible |
Website | assets | Totals |
£ | £ | £ |
Cost |
At 1 January 2022 |
and 31 December 2022 |
Amortisation |
At 1 January 2022 |
Amortisation for year |
At 31 December 2022 |
Net book value |
At 31 December 2022 |
At 31 December 2021 |
5. | Tangible fixed assets |
Short | Office |
leasehold | equipment | Totals |
£ | £ | £ |
Cost |
At 1 January 2022 |
Additions |
At 31 December 2022 |
Depreciation |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
Net book value |
At 31 December 2022 |
At 31 December 2021 |
6. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 January 2022 |
and 31 December 2022 |
Net book value |
At 31 December 2022 |
At 31 December 2021 |
The Plan Group Limited (Registered number: 04108942) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2022 |
7. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
8. | Current asset investments |
2022 | 2021 |
£ | £ |
Listed investments | 765 | 6,947 |
9. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
10. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2022 | 2021 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
11. | Provisions for liabilities |
2022 | 2021 |
£ | £ |
Deferred tax | 111,898 | 99,246 |
Other provisions | 108,998 | 97,133 |
Deferred tax |
£ |
Balance at 1 January 2022 |
Provided during year |
Balance at 31 December 2022 |
The Plan Group Limited (Registered number: 04108942) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2022 |
12. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £0.01 | 100 | 100 |
A | £0.015 | 19 | 19 |
B | £0.01 | 6 | 6 |
125 | 125 |
13. | Reserves |
Retained |
earnings |
£ |
At 1 January 2022 |
Profit for the year |
Dividends |
At 31 December 2022 |
14. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Auditors' Report was unqualified. |
for and on behalf of |
15. | Contingent liabilities |
The company together with other group companies has granted a guarantee and debenture to a bank. There is a fixed and floating charge over the company's assets to secure the bank borrowings of the group. |
16. | Related party disclosures |
Included in other debtors at the year end is £nil (2021: £36,809) due by the directors. |
17. | Control |
The ultimate parent company and controlling party is AMP132 Limited, a company incorporated in England and Wales. The ultimate parent company prepares consolidated group accounts which are publicly available at Companies House. |