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REGISTERED NUMBER: 08302779 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th November 2023

for

3 Planks Limited

3 Planks Limited (Registered number: 08302779)






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


3 Planks Limited

Company Information
for the Year Ended 30th November 2023







DIRECTORS: Mr M A Ashman
Mr A P Penney
Mr A G Cairns





SECRETARY:





REGISTERED OFFICE: 153 Mortimer Street
Herne Bay
Kent
CT6 5HA





REGISTERED NUMBER: 08302779 (England and Wales)





ACCOUNTANTS: CWW Accountants
153 Mortimer Street
Herne Bay
Kent
CT6 5HA

3 Planks Limited (Registered number: 08302779)

Abridged Balance Sheet
30th November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,401 50,062

CURRENT ASSETS
Stocks 35,388 54,409
Debtors 186,267 276,412
Cash at bank and in hand 70,375 (677 )
292,030 330,144
CREDITORS
Amounts falling due within one year 289,723 334,766
NET CURRENT ASSETS/(LIABILITIES) 2,307 (4,622 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,708

45,440

CREDITORS
Amounts falling due after more than one
year

40,390

31,882
NET ASSETS 26,318 13,558

CAPITAL AND RESERVES
Called up share capital 6 30 30
Retained earnings 7 26,288 13,528
SHAREHOLDERS' FUNDS 26,318 13,558

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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.

3 Planks Limited (Registered number: 08302779)

Abridged Balance Sheet - continued
30th November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 12th August 2024 and were signed on its behalf by:




Mr M A Ashman - Director Mr A P Penney - Director




Mr A G Cairns - Director


3 Planks Limited (Registered number: 08302779)

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. STATUTORY INFORMATION

3 Planks 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.

Turnover
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.
Plant and machinery etc - 10% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

3 Planks Limited (Registered number: 08302779)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st December 2022 104,671
Additions 27,563
At 30th November 2023 132,234
DEPRECIATION
At 1st December 2022 54,609
Charge for year 13,224
At 30th November 2023 67,833
NET BOOK VALUE
At 30th November 2023 64,401
At 30th November 2022 50,062

5. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 17,934 17,934

Amounts falling due between one and two years:
Bank loans - 1-2 years 16,222 20,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,882 11,882

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
30 Ordinary £1 30 30

7. RESERVES
Retained
earnings
£   

At 1st December 2022 13,528
Profit for the year 102,760
Dividends (90,000 )
At 30th November 2023 26,288

8. RELATED PARTY DISCLOSURES

During the year the company paid rent to 3 Planks Property Limited totalling £53,500 (£53,500) 2022

During the year the company paid dividends to 3 Planks Property Limited totalling £90,000 (£70,500 - 2022).

9. ULTIMATE CONTROLLING PARTY

The controlling party is 3 Planks Property Limited.