REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 |
FOR |
NORTH EAST PLANT LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 |
FOR |
NORTH EAST PLANT LIMITED |
NORTH EAST PLANT LIMITED (REGISTERED NUMBER: 10136504) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
NORTH EAST PLANT LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
2 Manor Square |
Solihull |
West Midlands |
B91 3PX |
NORTH EAST PLANT LIMITED (REGISTERED NUMBER: 10136504) |
BALANCE SHEET |
31 JULY 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 director and authorised for issue on |
NORTH EAST PLANT LIMITED (REGISTERED NUMBER: 10136504) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2022 |
1. | STATUTORY INFORMATION |
North East Plant Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis which the director considers to be appropriate. The company has group support to ensure that it meets its liabilities for a period of no less than 12 months from the approval of the financial statements.Consequently, the director is confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements and therefore have prepared them on a going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Financial instruments |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. |
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. |
NORTH EAST PLANT LIMITED (REGISTERED NUMBER: 10136504) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2022 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2021 |
Additions |
Disposals | ( |
) |
At 31 July 2022 |
DEPRECIATION |
At 1 August 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 July 2022 |
NET BOOK VALUE |
At 31 July 2022 |
At 31 July 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
NORTH EAST PLANT LIMITED (REGISTERED NUMBER: 10136504) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2022 |
7. | FINANCIAL INSTRUMENTS |
Categorisation of financial instruments: |
Financial assets that are debt instruments measured at amortised cost £56,317,602 (2020 -£20,333,664). Financial liabilities measured at amortised cost £6,749,556 (2020 - £6,271,476). |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
During the year the director operated a loan with the company with no fixed terms of repayment, interest was charged at a rate of 2.25%, totalling £8,103 during the year. Amounts advanced during the year were £4,749 (2021 - £9,012) and repayments during the year were £55,932 (2021 - £NIL). At the year end the amount owing to the company was £368,258 (2021 - £411,338). |
10. | RELATED PARTY DISCLOSURES |
Key management personnel comprises the directors for the company. The directors received |
remuneration in the year as disclosed in note 3. |
11. | ULTIMATE CONTROLLING PARTY |
On 18 July 2021, by way of a share for share exchange, the shares in the company were transferred |
from the sole shareholder of the company to Frank Solutions Limited, incorporated in the Isle of Man. |
The Ultimate parent company is Frank Solutions Limited, incorporation in the Isle of Man, |