Plaistowe Limited 03477981 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of building activities Digita Accounts Production Advanced 6.30.9574.0 true 03477981 2023-04-01 2024-03-31 03477981 2024-03-31 03477981 core:CurrentFinancialInstruments 2024-03-31 03477981 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03477981 core:Goodwill 2024-03-31 03477981 core:FurnitureFittings 2024-03-31 03477981 core:MotorVehicles 2024-03-31 03477981 core:OfficeEquipment 2024-03-31 03477981 bus:SmallEntities 2023-04-01 2024-03-31 03477981 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03477981 bus:FilletedAccounts 2023-04-01 2024-03-31 03477981 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03477981 bus:RegisteredOffice 2023-04-01 2024-03-31 03477981 bus:CompanySecretary1 2023-04-01 2024-03-31 03477981 bus:Director1 2023-04-01 2024-03-31 03477981 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03477981 core:FurnitureFittings 2023-04-01 2024-03-31 03477981 core:InvestmentPropertyIncludedWithinPPE 2023-04-01 2024-03-31 03477981 core:MotorCars 2023-04-01 2024-03-31 03477981 core:MotorVehicles 2023-04-01 2024-03-31 03477981 core:OfficeEquipment 2023-04-01 2024-03-31 03477981 countries:England 2023-04-01 2024-03-31 03477981 2023-03-31 03477981 core:Goodwill 2023-03-31 03477981 core:FurnitureFittings 2023-03-31 03477981 core:MotorVehicles 2023-03-31 03477981 core:OfficeEquipment 2023-03-31 03477981 2022-04-01 2023-03-31 03477981 2023-03-31 03477981 core:CurrentFinancialInstruments 2023-03-31 03477981 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03477981 core:FurnitureFittings 2023-03-31 03477981 core:MotorVehicles 2023-03-31 03477981 core:OfficeEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 03477981

Plaistowe Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Plaistowe Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Plaistowe Limited

Company Information

Director

I C Plaistowe

Company secretary

N F Plaistowe

Registered office

1 Brimley
Molescroft Road
Beverley
HU17 7EE

 

Plaistowe Limited

(Registration number: 03477981)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

203

268

Investment property

6

145,859

145,859

 

146,062

146,127

Current assets

 

Stocks

7

-

1,378

Debtors

8

346

316

Cash at bank and in hand

 

63,963

75,365

 

64,309

77,059

Creditors: Amounts falling due within one year

9

(142,537)

(155,377)

Net current liabilities

 

(78,228)

(78,318)

Total assets less current liabilities

 

67,834

67,809

Provisions for liabilities

(38)

(51)

Net assets

 

67,796

67,758

Capital and reserves

 

Called up share capital

20,000

20,000

Retained earnings

47,796

47,758

Shareholders' funds

 

67,796

67,758

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 September 2024
 

 

Plaistowe Limited

(Registration number: 03477981)
Balance Sheet as at 31 March 2024

.........................................
I C Plaistowe
Director

   
     
 

Plaistowe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital incorporated in England and the company registration number is 03477981.

The address of its registered office is:
1 Brimley
Molescroft Road
Beverley
HU17 7EE

These financial statements were authorised for issue by the director on 17 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling and rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of building services and the rental income from investment property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Plaistowe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Investment property

Nil, held at market value

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Plaistowe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2023 - 1).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

60,000

60,000

At 31 March 2024

60,000

60,000

Amortisation

At 1 April 2023

60,000

60,000

At 31 March 2024

60,000

60,000

Carrying amount

At 31 March 2024

-

-

 

Plaistowe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

2,546

435

7,250

10,231

At 31 March 2024

2,546

435

7,250

10,231

Depreciation

At 1 April 2023

2,506

380

7,077

9,963

Charge for the year

8

14

43

65

At 31 March 2024

2,514

394

7,120

10,028

Carrying amount

At 31 March 2024

32

41

130

203

At 31 March 2023

40

55

173

268

6

Investment properties

2024
£

At 1 April

145,859

At 31 March

145,859

The director considers the property to be held at fair value.

7

Stocks

2024
£

2023
£

Work in progress

-

1,378

8

Debtors

2024
£

2023
£

Prepayments

346

316

346

316

 

Plaistowe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

139,111

147,695

Taxation and social security

 

1,064

5,401

Accruals and deferred income

 

1,632

1,551

Other creditors

 

730

730

 

142,537

155,377

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

139,111

147,695

Other borrowings relate to unsecured Directors' loan accounts.

11

Related party transactions

Other transactions with directors

At the year end, the company owed the director £139,111 (2023: £147,695). This amount is unsecured, interest free and repayable on demand.