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REGISTERED NUMBER: 05641800 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PL MACHINERY SERVICES & SALES LIMITED

PL MACHINERY SERVICES & SALES LIMITED (REGISTERED NUMBER: 05641800)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PL MACHINERY SERVICES & SALES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: N R Northwood
R D Sams





REGISTERED OFFICE: A3/A4 Barton Industrial Estate
Faldo Road
Barton-Le-Clay
Bedfordshire
MK45 4RP





REGISTERED NUMBER: 05641800 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

PL MACHINERY SERVICES & SALES LIMITED (REGISTERED NUMBER: 05641800)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 40,500 54,000
Tangible assets 6 66,972 43,843
107,472 97,843

CURRENT ASSETS
Stocks 27,011 2,540
Debtors 7 137,369 137,582
Cash at bank and in hand 77,219 123,313
241,599 263,435
CREDITORS
Amounts falling due within one year 8 95,764 96,743
NET CURRENT ASSETS 145,835 166,692
TOTAL ASSETS LESS CURRENT
LIABILITIES

253,307

264,535

CREDITORS
Amounts falling due after more than one year 9 (35,639 ) (26,259 )

PROVISIONS FOR LIABILITIES 10 (3,707 ) -
NET ASSETS 213,961 238,276

CAPITAL AND RESERVES
Called up share capital 11 1,002 1,002
Retained earnings 212,959 237,274
SHAREHOLDERS' FUNDS 213,961 238,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 5 August 2024 and were signed on its behalf by:




N R Northwood - Director


PL MACHINERY SERVICES & SALES LIMITED (REGISTERED NUMBER: 05641800)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

PL Machinery Services & Sales 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

After making enquires, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

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 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 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.

PL MACHINERY SERVICES & SALES LIMITED (REGISTERED NUMBER: 05641800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 April 2023
and 31 March 2024 150,000
Amortisation
At 1 April 2023 96,000
Amortisation for year 13,500
At 31 March 2024 109,500
Net book value
At 31 March 2024 40,500
At 31 March 2023 54,000

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 April 2023 5,508 3,494 78,609 20,696 108,307
Additions - - 39,925 - 39,925
At 31 March 2024 5,508 3,494 118,534 20,696 148,232
Depreciation
At 1 April 2023 4,818 3,366 38,030 18,250 64,464
Charge for year 172 32 15,967 625 16,796
At 31 March 2024 4,990 3,398 53,997 18,875 81,260
Net book value
At 31 March 2024 518 96 64,537 1,821 66,972
At 31 March 2023 690 128 40,579 2,446 43,843

PL MACHINERY SERVICES & SALES LIMITED (REGISTERED NUMBER: 05641800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 April 2023 34,312
Additions 39,925
At 31 March 2024 74,237
Depreciation
At 1 April 2023 1,430
Charge for year 14,043
At 31 March 2024 15,473
Net book value
At 31 March 2024 58,764
At 31 March 2023 32,882

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 63,210 62,888
Amounts owed by group undertakings 54,074 42,428
Other debtors 6,989 5,690
Director's loan account - 3,381
VAT - 11,239
Prepayments 13,096 11,956
137,369 137,582

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 11,733 3,288
Trade creditors 49,412 83,828
Corporation tax 1,118 2,335
Social security and other taxes 2,783 2,757
VAT 23,266 -
Other creditors 514 514
Director's loan account 1,659 -
Accruals and deferred income 5,279 4,021
95,764 96,743

Obligations held under hire purchase contracts are secured on the assets concerned.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 35,639 26,259

Obligations held under hire purchase contracts are secured on the assets concerned.

PL MACHINERY SERVICES & SALES LIMITED (REGISTERED NUMBER: 05641800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,707 -

Deferred
tax
£   
Capital allowances in excess
of depreciation 3,707
Balance at 31 March 2024 3,707

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,002 Ordinary £1 1,002 1,002

12. RELATED PARTY DISCLOSURES

Included within debtors is an amount of £54,074 (2023: £42,428) due from Revelop Trading Limited, a company under common control. No interest has been charged on this balance during the year (2023: £Nil) and there are no set repayment terms.

Included within creditors is an amount of £842 (2023: debtor of £1,679) due to R D Sams, director. Interest of £Nil (2023: £41) has been charged on this balance during the year at a rate of 0% (2023: £2.5%) and there are no set repayment terms.

Included within creditors is an amount of £817 (2023: £1,703) due to N R Northwood, director. Interest of £Nil (2023: £42) has been charged on this balance during the year at a rate of 0% (2023: £2.5%) and there are no set repayment terms.