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REGISTERED NUMBER: 05255247 (England and Wales)















Plan Finance Limited

Financial Statements

for the Year Ended 31 December 2022






Plan Finance Limited (Registered number: 05255247)

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


Plan Finance Limited

Company Information
for the year ended 31 December 2022







Directors: R Georgiades
S Georgiades
G Georgiades





Registered office: Prospero
73 London Road
Redhill
Surrey
RH1 1LQ





Registered number: 05255247 (England and Wales)





Auditors: Haines Watts
Chartered Accountants and Statutory Auditor
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Plan Finance Limited (Registered number: 05255247)

Balance Sheet
31 December 2022

2022 2021
Notes £ £
Current assets
Debtors 4 - 1,550
Cash in hand 39,766 50,980
39,766 52,530
Creditors
Amounts falling due within one year 5 30,664 46,943
Net current assets 9,102 5,587
Total assets less current liabilities 9,102 5,587

Capital and reserves
Called up share capital 6 150 150
Retained earnings 7 8,952 5,437
Shareholders' funds 9,102 5,587

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 31 October 2023 and were signed on its behalf by:





G Georgiades - Director


Plan Finance Limited (Registered number: 05255247)

Notes to the Financial Statements
for the year ended 31 December 2022


1. Statutory information

Plan Finance Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.The directors have a reasonable expectation that the group will be able to operate within the level of its current facilities and that they have adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting 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.

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.


Plan Finance Limited (Registered number: 05255247)

Notes to the Financial Statements - continued
for the year ended 31 December 2022


2. Accounting policies - continued
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.

3. Employees and directors

The average number of employees during the year was 3 (2021 - 3 ) .

4. Debtors: amounts falling due within one year
2022 2021
£ £
Trade debtors - 1,550

5. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 88 85
Amounts owed to group undertakings 25,551 29,482
Taxation and social security 825 -
Other creditors 4,200 17,376
30,664 46,943

6. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £ £
150 Ordinary £1 150 150

7. Reserves
Retained
earnings
£

At 1 January 2022 5,437
Profit for the year 3,515
At 31 December 2022 8,952

8. Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Gary Staunton (Senior Statutory Auditor)
for and on behalf of Haines Watts

Plan Finance Limited (Registered number: 05255247)

Notes to the Financial Statements - continued
for the year ended 31 December 2022


9. 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.