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REGISTERED NUMBER: 09819901 (England and Wales)


















PLAS PROPERTY MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






PLAS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09819901)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PLAS PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: J M Beeken Esq
Mrs G M Beeken





REGISTERED OFFICE: First Floor Suite
23 Trinity Square
LLANDUDNO
Conwy
LL30 2RH





REGISTERED NUMBER: 09819901 (England and Wales)





ACCOUNTANTS: Hawley and Company
Chartered Accountants & Chartered Tax Advisers
First Floor Suite
23 Trinity Square
LLANDUDNO
North Wales
LL30 2RH

PLAS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09819901)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 679,590 578,070

CURRENT ASSETS
Debtors 5 4,174 29,944
Cash at bank and in hand 22,774 13,228
26,948 43,172
CREDITORS
Amounts falling due within one year 6 21,572 49,889
NET CURRENT ASSETS/(LIABILITIES) 5,376 (6,717 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

684,966

571,353

CREDITORS
Amounts falling due after more than one year 7 (628,238 ) (524,663 )

PROVISIONS FOR LIABILITIES 9 (9,203 ) (7,287 )
NET ASSETS 47,525 39,403

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 47,523 39,401
SHAREHOLDERS' FUNDS 47,525 39,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PLAS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09819901)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 Board of Directors and authorised for issue on 18 July 2024 and were signed on its behalf by:




Mrs G M Beeken - Director



J M Beeken Esq - Director


PLAS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09819901)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Plas Property Management 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.

Revenue recognition
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.
Leasehold property improvements - not provided
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on reducing balance

An assessment of the net realisable value of the leasehold property improvements based on current carrying amount has been undertaken. On the basis that the leasehold property improvements will be well maintained and such repair costs will be charged to the profit and loss account, it is the view of the directors that the net realisable value equates to the carrying amount. Consequently, no depreciation charge is deemed necessary.

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.

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.

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.

Trade and other debtors
Trade and other debtors are initially recognised at their transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

PLAS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09819901)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Trade and other creditors
Trade and other creditors are initially recognised at their transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Fixtures
property Plant and and Computer
improvements machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 373,325 14,674 280,044 1,345 669,388
Additions 85,913 - 39,949 310 126,172
At 31 October 2023 459,238 14,674 319,993 1,655 795,560
DEPRECIATION
At 1 November 2022 - 4,916 85,644 758 91,318
Charge for year - 976 23,380 296 24,652
At 31 October 2023 - 5,892 109,024 1,054 115,970
NET BOOK VALUE
At 31 October 2023 459,238 8,782 210,969 601 679,590
At 31 October 2022 373,325 9,758 194,400 587 578,070

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 851 25,058
Other debtors 1,037 2,350
Prepayments 2,286 2,536
4,174 29,944

PLAS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 09819901)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Social security and other taxes 3,526 7,172
Other creditors 15,142 38,805
Accruals 2,904 3,912
21,572 49,889

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Directors' loan account 628,238 524,663

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Between one and five years 360,000 165,000

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,203 7,287

Deferred
tax
£   
Balance at 1 November 2022 7,287
Accelerated capital allowances 1,916
Balance at 31 October 2023 9,203

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2