Registered number
06389283
Making Plans UK Limited
Filleted Accounts
31 March 2024
Making Plans UK Limited
Registered number: 06389283
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 34,896 42,336
Current assets
Debtors 5 142,789 151,316
Cash at bank and in hand 26,030 11,897
168,819 163,213
Creditors: amounts falling due within one year 6 (59,739) (57,308)
Net current assets 109,080 105,905
Total assets less current liabilities 143,976 148,241
Creditors: amounts falling due after more than one year 7 (13,691) (23,603)
Net assets 130,285 124,638
Capital and reserves
Called up share capital 20 20
Profit and loss account 130,265 124,618
Shareholders' funds 130,285 124,638
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M King
Director
Approved by the board on 5 June 2024
Making Plans UK Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 50 years
Motor vehicles over 5 years
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 60,000
At 31 March 2024 60,000
Amortisation
At 1 April 2023 60,000
At 31 March 2024 60,000
Net book value
At 31 March 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 33,852 54,743 32,325 120,920
At 31 March 2024 33,852 54,743 32,325 120,920
Depreciation
At 1 April 2023 5,040 54,149 19,395 78,584
Charge for the year 677 298 6,465 7,440
At 31 March 2024 5,717 54,447 25,860 86,024
Net book value
At 31 March 2024 28,135 296 6,465 34,896
At 31 March 2023 28,812 594 12,930 42,336
5 Debtors 2024 2023
£ £
Trade debtors 15,348 22,703
Other debtors 127,441 128,613
142,789 151,316
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,555 9,555
Trade creditors 6,256 4,707
Taxation and social security costs 38,984 41,191
Other creditors 4,944 1,855
59,739 57,308
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,691 23,603
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M King
Directors' loan account 52,358 31,428 (32,696) 51,090
L M King
Directors' loan account 52,357 31,429 (32,696) 51,090
104,715 62,857 (65,392) 102,180
9 Controlling party
The company is controlled by the company director, Mr M King, by virtue of his shareholding.
10 Other information
Making Plans UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Ivy Lodge
Twyford Road
Willington
Derby
DE65 6DE
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