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REGISTERED NUMBER: 04250243 (England and Wales)









Financial Statements

for the Period

1 April 2023 to 31 December 2023

for

Plus Finance Limited

Plus Finance Limited (Registered number: 04250243)






Contents of the Financial Statements
for the Period 1 April 2023 to 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Plus Finance Limited

Company Information
for the Period 1 April 2023 to 31 December 2023







DIRECTORS: S Pullen
Mrs N Pullen
N Kirby





REGISTERED OFFICE: Unit 1 Pressmore Farm Barns
Ashley Green Road
Chesham
Buckinghamshire
HP5 3PF





REGISTERED NUMBER: 04250243 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Plus Finance Limited (Registered number: 04250243)

Statement of Financial Position
31 December 2023

2023 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 341,945 343,458
341,945 343,458

CURRENT ASSETS
Debtors 6 2,864,025 3,604,012
Cash at bank and in hand 1,374,014 637,861
4,238,039 4,241,873
CREDITORS
Amounts falling due within one year 7 (869,658 ) (1,267,918 )
NET CURRENT ASSETS 3,368,381 2,973,955
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,710,326

3,317,413

CREDITORS
Amounts falling due after more than one
year

8

(110,863

)

(52,392

)

PROVISIONS FOR LIABILITIES (52,354 ) (37,480 )
NET ASSETS 3,547,109 3,227,541

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,547,009 3,227,441
SHAREHOLDERS' FUNDS 3,547,109 3,227,541

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

Plus Finance Limited (Registered number: 04250243)

Statement of Financial Position - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





S Pullen - Director


Plus Finance Limited (Registered number: 04250243)

Notes to the Financial Statements
for the Period 1 April 2023 to 31 December 2023

1. STATUTORY INFORMATION

Plus Finance 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. 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remain unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, has been amortised evenly over its useful life of five 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.
Building improvements - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 material 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 period 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.

Plus Finance Limited (Registered number: 04250243)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023

2. 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.

Government assisted loans
Loans received through the Bounce Back Loan Scheme are accounted for on the date the funds are received by the company. The first twelve months of the interest charge, which is funded by the government, is recognised in the profit and loss account as both an interest charge and as a government grant receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 15 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 December 2023 525,000
AMORTISATION
At 1 April 2023
and 31 December 2023 525,000
NET BOOK VALUE
At 31 December 2023 -
At 31 March 2023 -

Plus Finance Limited (Registered number: 04250243)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Building and Motor Computer
improvements fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 113,495 161,771 186,235 40,403 501,904
Additions 5,866 11,555 101,810 9,018 128,249
Disposals - (103,532 ) (63,287 ) (6,647 ) (173,466 )
At 31 December 2023 119,361 69,794 224,758 42,774 456,687
DEPRECIATION
At 1 April 2023 3,399 87,283 48,895 18,869 158,446
Charge for period 17,904 29,178 28,533 9,212 84,827
Eliminated on disposal - (86,989 ) (35,568 ) (5,974 ) (128,531 )
At 31 December 2023 21,303 29,472 41,860 22,107 114,742
NET BOOK VALUE
At 31 December 2023 98,058 40,322 182,898 20,667 341,945
At 31 March 2023 110,096 74,488 137,340 21,534 343,458


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 61,656 270,459
Other debtors 2,563,641 2,530,827
Directors' current accounts 144,628 426,078
Prepayments and accrued income 94,100 376,648
2,864,025 3,604,012

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Bank loans and overdrafts 10,146 9,955
Hire purchase contracts (see note 9) 28,684 9,997
Trade creditors 469,971 740,456
Tax 139,018 318,966
Social security and other taxes 30,473 16,090
VAT 92,840 31,982
Other creditors 8,065 13,734
Accruals and deferred income 90,461 126,738
869,658 1,267,918

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2023
£    £   
Bank loans 10,397 10,204
Bank loans - 2-5 years 4,374 12,196
Hire purchase contracts (see note 9) 96,092 29,992
110,863 52,392

Plus Finance Limited (Registered number: 04250243)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023

9. LEASING AGREEMENTS

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

At 31 December 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £348,763 (March 2023: £413,074).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 December 2023 and the year ended 31 March 2023:

2023 2023
£    £   
Mrs N Pullen
Balance outstanding at start of period 212,918 15,718
Amounts advanced 77,500 213,200
Amounts repaid (218,225 ) (16,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 72,193 212,918

S Pullen
Balance outstanding at start of period 213,160 15,718
Amounts advanced 77,500 213,442
Amounts repaid (218,225 ) (16,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 72,435 213,160

The outstanding balances were fully repaid after the period-end.