Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05139331 2023-04-01 2024-03-31 05139331 2022-04-01 2023-03-31 05139331 2024-03-31 05139331 2023-03-31 05139331 c:Director1 2023-04-01 2024-03-31 05139331 d:MotorVehicles 2023-04-01 2024-03-31 05139331 d:MotorVehicles 2024-03-31 05139331 d:MotorVehicles 2023-03-31 05139331 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05139331 d:OfficeEquipment 2023-04-01 2024-03-31 05139331 d:OfficeEquipment 2024-03-31 05139331 d:OfficeEquipment 2023-03-31 05139331 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05139331 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05139331 d:CurrentFinancialInstruments 2024-03-31 05139331 d:CurrentFinancialInstruments 2023-03-31 05139331 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05139331 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05139331 d:ShareCapital 2024-03-31 05139331 d:ShareCapital 2023-03-31 05139331 d:RetainedEarningsAccumulatedLosses 2024-03-31 05139331 d:RetainedEarningsAccumulatedLosses 2023-03-31 05139331 c:OrdinaryShareClass1 2023-04-01 2024-03-31 05139331 c:OrdinaryShareClass1 2024-03-31 05139331 c:OrdinaryShareClass1 2023-03-31 05139331 c:OrdinaryShareClass2 2023-04-01 2024-03-31 05139331 c:OrdinaryShareClass2 2024-03-31 05139331 c:OrdinaryShareClass2 2023-03-31 05139331 c:FRS102 2023-04-01 2024-03-31 05139331 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05139331 c:FullAccounts 2023-04-01 2024-03-31 05139331 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05139331 2 2023-04-01 2024-03-31 05139331 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 05139331










PLANIT FURNITURE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PLANIT FURNITURE LIMITED
REGISTERED NUMBER: 05139331

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
88,131
50,707

  
88,131
50,707

Current assets
  

Stocks
  
9,000
12,000

Debtors: amounts falling due within one year
 5 
10,457
59,567

Cash at bank and in hand
 6 
260,917
169,371

  
280,374
240,938

Creditors: amounts falling due within one year
 7 
(306,415)
(264,311)

Net current liabilities
  
 
 
(26,041)
 
 
(23,373)

Total assets less current liabilities
  
62,090
27,334

Provisions for liabilities
  

Deferred tax
  
(16,745)
(10,005)

  
 
 
(16,745)
 
 
(10,005)

Net assets
  
45,345
17,329


Capital and reserves
  

Called up share capital 
 8 
105
105

Profit and loss account
  
45,240
17,224

  
45,345
17,329

Page 1

 
PLANIT FURNITURE LIMITED
REGISTERED NUMBER: 05139331
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 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: 




J A Holme
Director

Date: 30 September 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
PLANIT FURNITURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Planit Furniture Limited, 05139331, is a private limited company, limited by shares, incorporated in England and Wales, with its registered office address at Belmont House, Shrewsbury Business Park, Shrewsbury, SY2 6LG.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
PLANIT FURNITURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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.

Page 4

 
PLANIT FURNITURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Office equipment
-
25% reducing balance

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.

 
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 first in, first out 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. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, 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. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
PLANIT FURNITURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
67,299
17,717
85,016


Additions
63,343
3,463
66,806



At 31 March 2024

130,642
21,180
151,822



Depreciation


At 1 April 2023
21,044
13,265
34,309


Charge for the year on owned assets
27,400
1,982
29,382



At 31 March 2024

48,444
15,247
63,691



Net book value



At 31 March 2024
82,198
5,933
88,131



At 31 March 2023
46,255
4,452
50,707

Page 6

 
PLANIT FURNITURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
8,245
45,444

Other debtors
222
11,146

Prepayments and accrued income
1,990
2,977

10,457
59,567



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
260,917
169,371

260,917
169,371



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
5,913
239

Amounts owed to group undertakings
93,220
93,220

Other taxation and social security
11,354
2,946

Other creditors
124,725
143,584

Accruals and deferred income
71,203
24,322

306,415
264,311



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary A shares of £1.00 each
100
100
5 (2023 - 5) Ordinary B shares of £1.00 each
5
5

105

105


 
Page 7