Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11117552 2023-01-01 2023-12-31 11117552 2022-01-01 2022-12-31 11117552 2023-12-31 11117552 2022-12-31 11117552 c:Director1 2023-01-01 2023-12-31 11117552 d:OfficeEquipment 2023-01-01 2023-12-31 11117552 d:OfficeEquipment 2023-12-31 11117552 d:OfficeEquipment 2022-12-31 11117552 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11117552 d:ComputerEquipment 2023-01-01 2023-12-31 11117552 d:ComputerEquipment 2023-12-31 11117552 d:ComputerEquipment 2022-12-31 11117552 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11117552 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11117552 d:CurrentFinancialInstruments 2023-12-31 11117552 d:CurrentFinancialInstruments 2022-12-31 11117552 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11117552 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11117552 d:ShareCapital 2023-12-31 11117552 d:ShareCapital 2022-12-31 11117552 d:RetainedEarningsAccumulatedLosses 2023-12-31 11117552 d:RetainedEarningsAccumulatedLosses 2022-12-31 11117552 c:FRS102 2023-01-01 2023-12-31 11117552 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11117552 c:FullAccounts 2023-01-01 2023-12-31 11117552 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11117552 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11117552










PL INTERNATIONAL UK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PL INTERNATIONAL UK LIMITED
REGISTERED NUMBER: 11117552

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,545
5,653

  
2,545
5,653

Current assets
  

Stocks
  
215,848
246,384

Debtors: amounts falling due within one year
 5 
253,908
282,711

Cash at bank and in hand
  
373,114
202,320

  
842,870
731,415

Creditors: amounts falling due within one year
 6 
(1,263,378)
(1,103,111)

Net current liabilities
  
 
 
(420,508)
 
 
(371,696)

Total assets less current liabilities
  
(417,963)
(366,043)

  

Net liabilities
  
(417,963)
(366,043)


Capital and reserves
  

Called up share capital 
  
300
300

Profit and loss account
  
(418,263)
(366,343)

  
(417,963)
(366,043)

Page 1

 
PL INTERNATIONAL UK LIMITED
REGISTERED NUMBER: 11117552
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account or the directors' report in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G Coulter
Director

Date: 19 September 2024

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
PL INTERNATIONAL UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

PL International UK Limited is a private company limited by shares and registered in England and Wales. The registered office address is 14th Floor, 33 Cavendish Square, London, W1G 0PW. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis based on the continued support of the company's creditors which, in the opinion of the directors, the company has for the foreseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
PL INTERNATIONAL UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%
Straight line
Computer equipment
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
PL INTERNATIONAL UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short term creditors are measured at the transaction price.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing
Page 5

 
PL INTERNATIONAL UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).

Page 6

 
PL INTERNATIONAL UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost 


At 1 January 2023
2,903
16,480
19,383



At 31 December 2023

2,903
16,480
19,383



Depreciation


At 1 January 2023
2,150
11,580
13,730


Charge for the year on owned assets
581
2,527
3,108



At 31 December 2023

2,731
14,107
16,838



Net book value



At 31 December 2023
172
2,373
2,545



At 31 December 2022
753
4,900
5,653


5.


Debtors

2023
2022
£
£


Trade debtors
251,850
267,469

Other debtors
-
14,942

Called up share capital not paid
300
300

Prepayments and accrued income
1,758
-

253,908
282,711


Page 7

 
PL INTERNATIONAL UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
135,504
188,407

Other taxation and social security
7,689
4,938

Other creditors
1,116,177
906,458

Accruals and deferred income
4,008
3,308

1,263,378
1,103,111



7.


Related party transactions

Included in other creditors is an interest free loan repayable on demand to the value of £1,115,489 (2022: £905,806) due to a connected company. 

 
Page 8