REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
PLUG-N-GO EV LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
PLUG-N-GO EV LIMITED |
PLUG-N-GO EV LIMITED (REGISTERED NUMBER: 11789463) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PLUG-N-GO EV LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
St James Place |
St James Street |
St Peter Port |
Guernsey |
GY1 2NZ |
PLUG-N-GO EV LIMITED (REGISTERED NUMBER: 11789463) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium | 8 |
Retained earnings | 8 | ( |
) | ( |
) |
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. |
PLUG-N-GO EV LIMITED (REGISTERED NUMBER: 11789463) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PLUG-N-GO EV LIMITED (REGISTERED NUMBER: 11789463) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATEMENT OF COMPLIANCE |
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. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The Financial statements have been prepared under the historical cost convention. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax. |
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
Cash and cash equivalents |
Cash and cash equivalents represent those balances held within the Company's bank accounts and in term deposits of three months or less. |
Debtors |
Short term debtors are measured at transaction price less any impairment. |
Creditors |
Short term creditors are measured at the transaction price. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
PLUG-N-GO EV LIMITED (REGISTERED NUMBER: 11789463) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The Company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Guernsey |
Nature of business: |
% |
Class of shares: | holding |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Gibraltar |
Nature of business: |
% |
Class of shares: | holding |
PLUG-N-GO EV LIMITED (REGISTERED NUMBER: 11789463) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Prepayments |
The amounts due from group undertakings are unsecured, interest free and repayable on demand. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Loan- Septer Limited |
Loan - Mrs G Revill | 20,000 | 20,000 |
Accrued expenses |
The amounts owed to group undertakings are unsecured, interest free and repayable on demand. |
The loan with Mrs G Revill and Septer Limited are unsecured, interest free and repayable on demand. |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £0.00 | 1 | 1,218 | 1,125 |
An initial 1,000,000 Ordinary shares of £0.001 each were allotted. The company issued further shares as follows:- |
16 January to 18 March 2020 | - 34,003 shares at a cost of £2.90 per share |
25 September to 28 October 2020 | - 26,297 shares at a cost of £3.10 per share |
29 March to 1 September 2021 | - 30,446 shares at a cost of £3.10 per share |
30 September 2021 | - 8,274 shares at a cost of £3.44 per share |
14 January 2022 | - 10,256 shares at a cost of £3.25 per share |
23 May 2022 | - 204 shares at a cost of £3.25 per share |
14 June 2022 | - 15,385 shares at a cost of £3.25 per share |
05 July 2023 | - 85,128 shares at a cost of £3.38 per share |
04 August 2023 | - 685 shares at a cost of £3.38 per share |
22 August 2023 | - 889 shares at a cost of £3.38 per share |
14 December 2023 | - 6,221 shares at a cost of £3.38 per share |
PLUG-N-GO EV LIMITED (REGISTERED NUMBER: 11789463) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
8. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 January 2023 | ( |
) | 1,756,139 |
Deficit for the year | ( |
) | - | ( |
) |
Cash share issue | - | 313,991 | 313,991 |
At 31 December 2023 | ( |
) | 2,055,399 |
9. | RELATED PARTY DISCLOSURES |
Summary of transactions with associated companies: |
Plug-N-Go Limited |
At the balance sheet date there is a loan of £620,506 due to the Company (2022: £449,035). |
Plug-N-Maintain Limited |
At the balance sheet date there is a loan of £12,326 due to the Company (2022: £9,008). |
PNG Assets 1 Limited |
At the balance sheet date there is a loan of £126,564 due to the Company (2022: £26,309). |
Plug-N-Go (Gibraltar) Limited |
At the balance sheet date there is a loan of £62,169 due to the Company (2022 : £14,892). |
Plug-N-Go (CI) Limited |
At the balance sheet date there is a loan of £238,260 due by the Company (2022: £117,511). |
The company also had the following transactions during the year with a company under common control: |
Septer Limited |
At the balance sheet date there is a loan of £37,600 due by the Company (2022: £127,000). |
Mrs G Revill |
At the balance sheet date there is a loan of £20,000 due by the Company (2022: £20,000). |
The directors believe the ultimate controlling parties of the company to be Mr T Revill and Mr K Hounsell. |
10. | SUBSEQUENT EVENT |
There are no subsequent events from the reporting date to the date of signing of these financial statements. |