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REGISTERED NUMBER: 08100195 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Plug and Socket Ltd

Plug and Socket Ltd (Registered number: 08100195)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Plug and Socket Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mr A J Bradford





REGISTERED OFFICE: Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE





REGISTERED NUMBER: 08100195 (England and Wales)





ACCOUNTANTS: Sigma Partners
Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE

Plug and Socket Ltd (Registered number: 08100195)

Statement of Financial Position
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,997 5,717

CURRENT ASSETS
Stocks 5,000 5,700
Debtors 5 6,102 14,005
Cash at bank 7,316 3,992
18,418 23,697
CREDITORS
Amounts falling due within one year 6 41,113 26,448
NET CURRENT LIABILITIES (22,695 ) (2,751 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(16,698

)

2,966

PROVISIONS FOR LIABILITIES - 858
NET (LIABILITIES)/ASSETS (16,698 ) 2,108

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (16,798 ) 2,008
SHAREHOLDERS' FUNDS (16,698 ) 2,108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Plug and Socket Ltd (Registered number: 08100195)

Statement of Financial Position - continued
30 June 2023


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 director and authorised for issue on 22 February 2024 and were signed by:





Mr A J Bradford - Director


Plug and Socket Ltd (Registered number: 08100195)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Plug and Socket Ltd 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.


Plug and Socket Ltd (Registered number: 08100195)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Going concern
The company is in a net current liabilities position and the director has pledged that he will continue to financially support the company to ensure that it continues for a period of at least twelve months from the date of the accountant's report.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 July 2022 21,593 1,923 23,516
Additions 2,301 - 2,301
At 30 June 2023 23,894 1,923 25,817
DEPRECIATION
At 1 July 2022 16,083 1,716 17,799
Charge for year 1,953 68 2,021
At 30 June 2023 18,036 1,784 19,820
NET BOOK VALUE
At 30 June 2023 5,858 139 5,997
At 30 June 2022 5,510 207 5,717

Plug and Socket Ltd (Registered number: 08100195)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 5,289 13,167
Other debtors 813 838
6,102 14,005

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 1,723 210
Taxation and social security 2,022 1,473
Other creditors 37,368 24,765
41,113 26,448

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A J Bradford.