REGISTERED NUMBER: 13579623 (England and Wales) |
Report of the Director and |
Unaudited Consolidated Financial Statements for the Year End |
for |
Plmd Operations Ltd |
REGISTERED NUMBER: 13579623 (England and Wales) |
Report of the Director and |
Unaudited Consolidated Financial Statements for the Year End |
for |
Plmd Operations Ltd |
Plmd Operations Ltd (Registered number: 13579623) |
Contents of the Consolidated Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Consolidated Income Statement | 3 |
Consolidated Balance Sheet | 5 |
Company Balance Sheet | 9 |
Consolidated Statement of Changes in Equity |
12 |
Company Statement of Changes in Equity |
13 |
Notes to the Consolidated Financial Statements |
14 |
Plmd Operations Ltd |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants & Tax Advisor |
837 Cranbrook Road |
Ilford |
England |
IG6 1JD |
Plmd Operations Ltd (Registered number: 13579623) |
Report of the Director |
for the Year Ended 31 December 2023 |
The director presents his report with the financial statements of the company and the group for the year ended 31 December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the group in the year under review was that of Overall Operations. |
DIRECTOR |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Plmd Operations Ltd (Registered number: 13579623) |
Consolidated |
Income Statement |
for the Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
TURNOVER | 1,439,933 | 1,298,329 |
Cost of sales | (897,200 | ) | (888,621 | ) |
GROSS PROFIT | 542,733 | 409,708 |
Administrative expenses | (461,520 | ) | (432,728 | ) |
81,213 | (23,020 | ) |
Other operating income | 2,388 | 2,783 |
OPERATING | PROFIT/(LOSS) and |
PROFIT/(LOSS) BEFORE TAXATION |
83,601 |
(20,237 |
) |
Tax on profit/(loss) | 6 | (1,772 | ) | (1,387 | ) |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
Profit/(loss) attributable to: |
Owners of the parent | 81,829 | (21,624 | ) |
Plmd Operations Ltd (Registered number: 13579623) |
Consolidated |
Income Statement |
for the Year Ended 31 December 2023 |
Plmd Operations Ltd (Registered number: 13579623) |
Consolidated Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 8 | 5,243 | 6,932 |
Investments | 9 | - | - |
5,243 | 6,932 |
CURRENT ASSETS |
Debtors | 10 | 1,472,720 | 1,046,252 |
Cash at bank and in hand | 37,430 | 612 |
1,510,150 | 1,046,864 |
CREDITORS |
Amounts falling due within one year |
11 |
(776,206 |
) |
(855,697 |
) |
NET CURRENT ASSETS | 733,944 | 191,167 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
739,187 |
198,099 |
CREDITORS |
Amounts falling due after more than one year |
12 |
(477,357 |
) |
(209,461 |
) |
PROVISIONS FOR LIABILITIES | 13 | (211,363 | ) | - |
Plmd Operations Ltd (Registered number: 13579623) |
Consolidated Balance Sheet - continued |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
NET ASSETS/(LIABILITIES) | 50,467 | (11,362 | ) |
Plmd Operations Ltd (Registered number: 13579623) |
Consolidated Balance Sheet - continued |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 1,203 | 1,203 |
Other reserves | (20,000 | ) | - |
Retained earnings | 69,264 | (12,565 | ) |
50,467 | (11,362 | ) |
The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The director acknowledges his responsibilities for: |
(a) | ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group. |
Plmd Operations Ltd (Registered number: 13579623) |
Consolidated Balance Sheet - continued |
31 December 2023 |
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by: |
Ajay Kapur - Director |
Plmd Operations Ltd (Registered number: 13579623) |
Company Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
Investments | 9 |
CURRENT ASSETS |
Cash in hand |
TOTAL ASSETS LESS CURRENT LIABILITIES |
Plmd Operations Ltd (Registered number: 13579623) |
Company Balance Sheet - continued |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves | ( |
) |
Retained earnings |
Company's profit for the financial year |
20,000 |
- |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
Plmd Operations Ltd (Registered number: 13579623) |
Company Balance Sheet - continued |
31 December 2023 |
(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. |
The financial statements were approved by the director and authorised for issue on |
Plmd Operations Ltd (Registered number: 13579623) |
Consolidated Statement of Changes in Equity |
for the Year Ended 31 December 2023 |
Called up |
share | Retained | Other | Total |
capital | earnings | reserves | equity |
£ | £ | £ | £ |
Balance at 1 January 2022 | - | 9,059 | - | 9,059 |
Changes in equity |
Issue of share capital | 1,203 | - | - | 1,203 |
Total comprehensive income | - | (21,624 | ) | - | (21,624 | ) |
Balance at 31 December 2022 | 1,203 | (12,565 | ) | - | (11,362 | ) |
Changes in equity |
Total comprehensive income | - | 81,829 | (20,000 | ) | 61,829 |
Balance at 31 December 2023 | 1,203 | 69,264 | (20,000 | ) | 50,467 |
Plmd Operations Ltd (Registered number: 13579623) |
Company Statement of Changes in Equity |
for the Year Ended 31 December 2023 |
Called up |
share | Retained | Other | Total |
capital | earnings | reserves | equity |
£ | £ | £ | £ |
Changes in equity |
Issue of share capital | - | - |
Balance at 31 December 2022 |
Changes in equity |
Total comprehensive income | - | ( |
) |
Balance at 31 December 2023 | ( |
) |
Plmd Operations Ltd (Registered number: 13579623) |
Notes to the Consolidated Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Plmd Operations Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | 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. |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. The accounts have been prepared on the going concern basis as the director is of the opinion that the group will meet its liabilities as and when due, due to the continued support of the director. |
Plmd Operations Ltd (Registered number: 13579623) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
3. | ACCOUNTING POLICIES - continued |
Basis of consolidation |
The consolidated financial statements include the financial statements of the company and its subsidiary undertakings made up to 31 December 2023. A subsidiary is an entity that is controlled by the parent. The results of subsidiary undertakings are included in the consolidated profit and loss account from the date that control commences until the date that control ceases. Control is established when the company has the power to govern the operating and financial policies of an entity so as to obtain benefits from activities. In assessing control, the group takes into consideration potential voting rights that are currently exercisable. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
Plmd Operations Ltd (Registered number: 13579623) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
3. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its |
estimated useful life. |
Plant and machinery - 20% on reducing balance |
Fixtures and fittings - 20% on reducing balance |
Computer equipment - 20% on reducing balance |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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 balance sheet date. |
Plmd Operations Ltd (Registered number: 13579623) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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. |
Investments |
Investments are stated at cost less provision for diminution in value. |
Going concern |
The total current liabilities exceeds the total assets of the company as at 31st Dec 2023. The director has confirmed that the company will have continuous support from the creditors. It is on this basis Accounts have bee prepared on the going concern basis. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
Plmd Operations Ltd (Registered number: 13579623) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | OPERATING PROFIT/(LOSS) |
The operating profit (2022 - operating loss) is stated after charging: |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets | 1,689 | 935 |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
31.12.23 | 31.12.22 |
£ | £ |
Current tax: |
UK corporation tax | 1,772 | 1,387 |
Tax on profit/(loss) | 1,772 | 1,387 |
Plmd Operations Ltd (Registered number: 13579623) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
8. | TANGIBLE FIXED ASSETS |
Group |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 | 1,577 | 17,115 | 2,331 | 21,023 |
DEPRECIATION |
At 1 January 2023 | 606 | 13,485 | - | 14,091 |
Charge for year | 194 | 726 | 769 | 1,689 |
At 31 December 2023 | 800 | 14,211 | 769 | 15,780 |
NET BOOK VALUE |
At 31 December 2023 | 777 | 2,904 | 1,562 | 5,243 |
At 31 December 2022 | 971 | 3,630 | 2,331 | 6,932 |
Plmd Operations Ltd (Registered number: 13579623) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
9. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiaries |
APMD LTD |
Registered office: England |
Nature of business: Due Diligence & Project management |
% |
Class of shares: | holding |
Ordinary | 100.00 |
Plmd Operations Ltd (Registered number: 13579623) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
9. | FIXED ASSET INVESTMENTS - continued |
BCMD LTD |
Registered office: England |
Nature of business: Property construction |
% |
Class of shares: | holding |
Ordinary | 100.00 |
GEMD LTD |
Registered office: England |
Nature of business: IT consultancy |
% |
Class of shares: | holding |
Ordinary | 100.00 |
NEMD LTD |
Registered office: England |
Nature of business: Estate management |
% |
Class of shares: | holding |
Ordinary | 100.00 |
PEMD LTD |
Registered office: England |
Nature of business: HR management |
% |
Class of shares: | holding |
Ordinary | 100.00 |
Plmd Operations Ltd (Registered number: 13579623) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
9. | FIXED ASSET INVESTMENTS - continued |
HRMD LTD |
Registered office: England |
Nature of business: HR management |
% |
Class of shares: | holding |
Ordinary | 100.00 |
REMD LTD |
Registered office: England |
Nature of business: ESTATE AGENCY |
% |
Class of shares: | holding |
Ordinary | 100.00 |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors | 1,446,715 | 1,020,185 |
Other debtors | 26,005 | 26,067 |
1,472,720 | 1,046,252 |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
Plmd Operations Ltd (Registered number: 13579623) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans and overdrafts | 50,306 | 57,764 |
Trade creditors | 515,623 | 338,661 |
Amounts owed to group undertakings | - | 20,153 |
Social security and other taxes |
- |
92,933 |
VAT | 13,886 | - |
Other creditors | 196,391 | 346,186 |
776,206 | 855,697 |
12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans - 1-2 years | - | 9,461 |
Social security and other taxes |
- |
50,000 |
Directors' loan accounts | 477,357 | 150,000 |
477,357 | 209,461 |
Plmd Operations Ltd (Registered number: 13579623) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
13. | PROVISIONS FOR LIABILITIES |
Group |
31.12.23 | 31.12.22 |
£ | £ |
Other provisions | 211,363 | - |
Aggregate amounts | 211,363 | - |
14. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £20,000 were paid to the director . |
At the balance sheet date, the group owed £ 477,357 to Mr Ajay Kapur, the director. |