Company Registration No. 10765773 (England and Wales)
Result Plan Ltd
Unaudited accounts
for the year ended 31 May 2023
Result Plan Ltd
Unaudited accounts
Contents
Result Plan Ltd
Company Information
for the year ended 31 May 2023
Company Number
10765773 (England and Wales)
Registered Office
16 Commercial Road
Newport
NP20 2PA
Accountants
Evans Entwistle
Venta House
Maes-glas
Newport
NP20 2NS
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Result Plan Ltd
for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Result Plan Ltd for the year ended 31 May 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
Venta House
Maes-glas
Newport
NP20 2NS
6 October 2023
Result Plan Ltd
Statement of financial position
as at 31 May 2023
Tangible assets
551,483
617,246
Cash at bank and in hand
15,844
14,453
Creditors: amounts falling due within one year
(216,543)
(312,451)
Net current liabilities
(92,354)
(203,636)
Total assets less current liabilities
503,665
458,146
Creditors: amounts falling due after more than one year
(413,134)
(285,902)
Provisions for liabilities
Deferred tax
(3,742)
(14,234)
Result Plan Ltd
Statement of financial position
as at 31 May 2023 (continued)
Called up share capital
3
3
Revaluation reserve
(116,854)
(116,854)
Capital redemption reserve
(15,612)
(15,612)
Profit and loss account
219,249
290,470
Shareholders' funds
86,789
158,010
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 October 2023 and were signed on its behalf by
Leon Goodman
Director
Company Registration No. 10765773
Result Plan Ltd
Notes to the Accounts
for the year ended 31 May 2023
Result Plan Ltd is a private company, limited by shares, registered in England and Wales, registration number 10765773. The registered office is 16 Commercial Road, Newport, NP20 2PA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
4 Years straight Line
Fixtures & fittings
5 Years straight Line
Computer equipment
5 Years Straight Line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Result Plan Ltd
Notes to the Accounts
for the year ended 31 May 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Investments in shares are included at fair value.
4
Tangible fixed assets
Total
Charge for the year
65,763
5
Deferred taxation
2023
2022
Accelerated capital allowances
3,742
14,234
Provision at start of year
14,234
6,141
(Credited)/charged to the profit and loss account
(10,492)
8,093
Provision at end of year
3,742
14,234
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
Result Plan Ltd
Notes to the Accounts
for the year ended 31 May 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
The director has stated that he will repay his loan in full within 9 months after the year end.
8
Average number of employees
During the year the average number of employees was 14 (2022: 14).