1 April 2022 v2023.26.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP087183842022-04-012023-03-31087183842023-03-31087183842022-03-3108718384core:WithinOneYear2023-03-3108718384core:WithinOneYear2022-03-3108718384core:AfterOneYear2023-03-3108718384core:AfterOneYear2022-03-3108718384core:ShareCapital2023-03-3108718384core:ShareCapital2022-03-3108718384core:RetainedEarningsAccumulatedLosses2023-03-3108718384core:RetainedEarningsAccumulatedLosses2022-03-3108718384bus:Director12022-04-012023-03-3108718384bus:RegisteredOffice2022-04-012023-03-3108718384core:OfficeEquipment2022-04-012023-03-31087183842021-04-012022-03-3108718384core:LandBuildings2022-04-01087183842022-04-0108718384core:LandBuildings2022-04-012023-03-3108718384core:PlantMachinery2022-04-012023-03-3108718384core:LandBuildings2023-03-3108718384core:PlantMachinery2023-03-3108718384core:LandBuildings2022-03-310871838412022-04-012023-03-3108718384countries:EnglandWales2022-04-012023-03-3108718384bus:AuditExemptWithAccountantsReport2022-04-012023-03-3108718384bus:PrivateLimitedCompanyLtd2022-04-012023-03-3108718384bus:SmallEntities2022-04-012023-03-3108718384bus:FullAccounts2022-04-012023-03-31
Company registration number:
08718384
PLH Estates Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2023
PLH Estates Limited
Report of the Accountant to the directors of PLH Estates Limited
Year ended
31 March 2023
These financial statements have been prepared in accordance with my terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended
31 March 2023
.
I have prepared these financial statements based on the accounting records, information and explanations provided by you. I do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
MPA Accounting
The Grain Store
Merstone
Isle of Wight
PO30 3DE
United Kingdom
Date:
30 October 2023
PLH Estates Limited
Statement of Financial Position
31 March 2023
20232022
Note££
Fixed assets    
Tangible assets 5
728,012
 
691,978
 
Current assets    
Debtors 6
18,361
 
17,169
 
Cash at bank and in hand
8,990
 
767
 
27,351
 
17,936
 
Creditors: amounts falling due within one year 7
(15,379
)
(900
)
Net current assets
11,972
 
17,036
 
Total assets less current liabilities 739,984   709,014  
Creditors: amounts falling due after more than one year 8
(404,708
)
(430,062
)
Net assets
335,276
 
278,952
 
Capital and reserves    
Called up share capital
300
 
300
 
Profit and loss account
334,976
 
278,652
 
Shareholders funds
335,276
 
278,952
 
For the year ending
31 March 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
30 October 2023
, and are signed on behalf of the board by:
P Hayes
Director
Company registration number:
08718384
PLH Estates Limited
Notes to the Financial Statements
Year ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
The Old Piggery Merstone Lane
,
Merstone
,
Newport
,
PO30 3DE
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
20% Reducing Balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 April 2022
691,978
  -  
691,978
 
Additions
32,000
 
4,363
 
36,363
 
At
31 March 2023
723,978
 
4,363
 
728,341
 
Depreciation      
At
1 April 2022
-   -   -  
Charge -  
329
 
329
 
At
31 March 2023
-  
329
 
329
 
Carrying amount      
At
31 March 2023
723,978
 
4,034
 
728,012
 
At 31 March 2022
691,978
  -  
691,978
 

6 Debtors

20232022
££
Trade debtors
17,370
 
16,787
 
Other debtors
991
 
382
 
18,361
 
17,169
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
4,338
  -  
Taxation and social security
10,051
  -  
Other creditors
990
 
900
 
15,379
 
900
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
9,760
 
18,436
 
Other creditors
394,948
 
411,626
 
404,708
 
430,062