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REGISTERED NUMBER: 06295103 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Plus Retail Limited

Plus Retail Limited (Registered number: 06295103)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Plus Retail Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: J R W Sibcy
Mrs S E Sibcy
M R Tanner





SECRETARY: Mrs S E Sibcy





REGISTERED OFFICE: 128 High Street
Crediton
Devon
EX17 3LQ





REGISTERED NUMBER: 06295103 (England and Wales)





ACCOUNTANTS: Bedford & Co Limited
128 High Street
Crediton
Devon
EX17 3LQ

Plus Retail Limited (Registered number: 06295103)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 173,481 139,375
173,481 139,375

CURRENT ASSETS
Stocks 309,136 341,090
Debtors 6 9,451 11,048
Cash at bank 946,948 870,673
1,265,535 1,222,811
CREDITORS
Amounts falling due within one year 7 348,591 337,047
NET CURRENT ASSETS 916,944 885,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,090,425

1,025,139

PROVISIONS FOR LIABILITIES 34,897 26,370
NET ASSETS 1,055,528 998,769

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,055,428 998,669
SHAREHOLDERS' FUNDS 1,055,528 998,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Plus Retail Limited (Registered number: 06295103)

Balance Sheet - continued
30 June 2024


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

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 18 October 2024 and were signed on its behalf by:





J R W Sibcy - Director


Plus Retail Limited (Registered number: 06295103)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Plus Retail Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's place of business is Unit 3, Beechlea Industrial Estate, Winkleigh, Devon, EX19 8DH.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable from the sale of services, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised when services are delivered to customers such that risks and rewards of ownership have been transferred to them and that there is sufficient reliable evidence that delivery of goods has occurred.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, has been fully amortised evenly over its estimated useful life of one year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on reducing balance, 15% on reducing balance and in accordance with the property

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Cost is calculated on a first in first out basis.
In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.


Plus Retail Limited (Registered number: 06295103)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 15,000
AMORTISATION
At 1 July 2023
and 30 June 2024 15,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

Plus Retail Limited (Registered number: 06295103)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 323,898
Additions 62,324
At 30 June 2024 386,222
DEPRECIATION
At 1 July 2023 184,523
Charge for year 28,218
At 30 June 2024 212,741
NET BOOK VALUE
At 30 June 2024 173,481
At 30 June 2023 139,375

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors - 3,025
Other debtors 9,451 8,023
9,451 11,048

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 169,764 160,246
Taxation and social security 101,135 143,212
Other creditors 77,692 33,589
348,591 337,047