REGISTERED NUMBER: |
Financial Statements |
for the Period |
1 April 2023 to 31 December 2023 |
for |
Plus Finance Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Building improvements | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 April 2023 |
and 31 December 2023 |
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 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 144,628 | 426,078 |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 9) |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 92,840 | 31,982 |
Other creditors |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2023 |
£ | £ |
Bank loans |
Bank loans - 2-5 years |
Hire purchase contracts (see note 9) |
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 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
The outstanding balances were fully repaid after the period-end. |