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COMPANY REGISTRATION NUMBER: 05189298
PLANT FORCE (LEEDS) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
24 July 2023
PLANT FORCE (LEEDS) LIMITED
STATEMENT OF FINANCIAL POSITION
24 July 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
6
1,030,911
593,624
CURRENT ASSETS
Debtors
7
439,167
425,402
Cash at bank and in hand
2,814
67,950
---------
---------
441,981
493,352
CREDITORS: amounts falling due within one year
8
( 497,149)
( 371,605)
---------
---------
NET CURRENT (LIABILITIES)/ASSETS
( 55,168)
121,747
------------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
975,743
715,371
CREDITORS: amounts falling due after more than one year
9
( 432,754)
( 49,345)
PROVISIONS
Taxation including deferred tax
( 112,319)
( 112,319)
---------
---------
NET ASSETS
430,670
553,707
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
430,570
553,607
---------
---------
SHAREHOLDERS FUNDS
430,670
553,707
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 24 July 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 .
PLANT FORCE (LEEDS) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
24 July 2023
These financial statements were approved by the board of directors and authorised for issue on 7 March 2024 , and are signed on behalf of the board by:
A M Atkins
Director
Company registration number: 05189298
PLANT FORCE (LEEDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 24 JULY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 3 5 Oldfield Lane, Leeds, West Yorkshire, LS121JD.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property Improvements
-
20% straight line
Plant & Machinery
-
15% reducing balance
Fixtures & Fittings
-
25% straight line
Motor Vehicles
-
25% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. TAX ON (LOSS)/PROFIT
Major components of tax expense
Period from
Year to
26 Jul 21 to
24 Jul 23
24 Jul 22
£
£
Current tax:
UK current tax expense
46,757
Deferred tax:
Origination and reversal of timing differences
( 37,904)
----
--------
Tax on (loss)/profit
8,853
----
--------
6. TANGIBLE ASSETS
Leasehold Property Improve -ments
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 25 July 2022
34,592
1,793,487
43,360
51,040
1,922,479
Additions
642,985
4,000
646,985
Disposals
( 27,000)
( 27,000)
--------
------------
--------
--------
------------
At 24 July 2023
34,592
2,409,472
43,360
55,040
2,542,464
--------
------------
--------
--------
------------
Depreciation
At 25 July 2022
32,118
1,205,729
39,968
51,040
1,328,855
Charge for the year
2,474
181,430
1,844
1,000
186,748
Disposals
( 4,050)
( 4,050)
--------
------------
--------
--------
------------
At 24 July 2023
34,592
1,383,109
41,812
52,040
1,511,553
--------
------------
--------
--------
------------
Carrying amount
At 24 July 2023
1,026,363
1,548
3,000
1,030,911
--------
------------
--------
--------
------------
At 24 July 2022
2,474
587,758
3,392
593,624
--------
------------
--------
--------
------------
7. DEBTORS
2023
2022
£
£
Trade debtors
178,091
228,113
Other debtors
261,076
197,289
---------
---------
439,167
425,402
---------
---------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
47,141
9,960
Trade creditors
68,907
115,626
Corporation tax
48,077
53,308
Social security and other taxes
2,784
102,228
Amounts due to related companies
27,000
5,000
Other creditors
303,240
85,483
---------
---------
497,149
371,605
---------
---------
9. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
18,104
28,373
Other creditors
414,650
20,972
---------
--------
432,754
49,345
---------
--------