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REGISTERED NUMBER: 14433084 (England and Wales)















Plus-Plus UK & Ireland Limited

Financial Statements

for the period

20 October 2022 to 31 December 2023






Plus-Plus UK & Ireland Limited (Registered number: 14433084)

Contents of the Financial Statements
for the period 20 October 2022 to 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Plus-Plus UK & Ireland Limited

Company Information
for the period 20 October 2022 to 31 December 2023







Director: J M Pihl





Registered office: 178 Buckingham Avenue
Slough
Berkshire
SL1 4RD





Registered number: 14433084 (England and Wales)





Auditors: Cooper Parry Group Limited
Statutory Auditor
178 Buckingham Avenue
Slough
Berkshire
SL1 4RD

Plus-Plus UK & Ireland Limited (Registered number: 14433084)

Balance Sheet
31 December 2023

Notes £ £
Fixed assets
Tangible assets 4 32,353

Current assets
Stocks 184,366
Debtors 5 153,489
Cash at bank and in hand 141,923
479,778
Creditors
Amounts falling due within one year 6 931,210
Net current liabilities (451,432 )
Total assets less current liabilities (419,079 )

Capital and reserves
Called up share capital 7 1
Retained earnings (419,080 )
Shareholders' funds (419,079 )

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 20 March 2024 and were signed by:





J M Pihl - Director


Plus-Plus UK & Ireland Limited (Registered number: 14433084)

Notes to the Financial Statements
for the period 20 October 2022 to 31 December 2023


1. Statutory information

Plus-Plus UK & Ireland 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 unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the date of approval of these financial statements. They continue to adopt the going concern basis of accounting in preparing the annual financial statements. Signed confirmation of support has been received from the parent company for at least 12 months from the date of approval of these financial statements.

Significant judgements and estimates
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating bad debt provisions. A full review of trade debtors is carried out at the year end and whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provision do not match the level of debts which ultimately prove to be uncollectable.

There is also estimation uncertainty in calculating stock provisions. Slow moving and obsolete stocks are
monitored during the year. Whilst every attempt is made to ensure that the stock provisions are as accurate as possible, there remain a risk that the provisions do not match the ultimate unrealised value of stock held.

There is also estimation uncertainty in calculating deferred tax liability due to temporary timing differences. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates and the physical condition of the assets.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received, or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Turnover from sales of goods is recognised on the date of despatch to the client's premises, at the invoice value, net of value added tax.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life (or if held under finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings- 20% on cost
Computer equipment- 20% on cost

Plus-Plus UK & Ireland Limited (Registered number: 14433084)

Notes to the Financial Statements - continued
for the period 20 October 2022 to 31 December 2023


2. Accounting policies - continued

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

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.

Taxation
Taxation for the period 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 period 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.

Management have not recognised a deferred tax asset as the current forecasts for the following financial year do not show a sufficient profit to enable the losses to be utilised in the short term.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3. Employees and directors

The average number of employees during the period was 2 .

Plus-Plus UK & Ireland Limited (Registered number: 14433084)

Notes to the Financial Statements - continued
for the period 20 October 2022 to 31 December 2023


4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
Additions 30,350 5,354 35,704
At 31 December 2023 30,350 5,354 35,704
Depreciation
Charge for period 2,219 1,132 3,351
At 31 December 2023 2,219 1,132 3,351
Net book value
At 31 December 2023 28,131 4,222 32,353

5. Debtors: amounts falling due within one year
£
Trade debtors 105,666
Prepayments 47,823
153,489

6. Creditors: amounts falling due within one year
£
Trade creditors 31,661
Amounts owed to group undertakings 841,792
Social security and other taxes 6,813
VAT 31,590
Pension Control 1,526
Accrued expenses 17,828
931,210

7. Called up share capital

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

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

The Auditors' Report was unqualified.

Tara Mellett (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

9. Ultimate controlling party

The immediate and ultimate parent undertaking and controlling party is Plus-Plus A/S, which prepares group financial statements. The registered office of Plus-Plus A/S is Borupvej 20, Holbaek, Denmark, 4300.