Silverfin false false 31/01/2024 09/12/2022 31/01/2024 Mr W T Cross 09/12/2022 29 October 2024 The principal activity of the company during the financial year was renting and leasing machinery. 14532020 2024-01-31 14532020 bus:Director1 2024-01-31 14532020 core:CurrentFinancialInstruments 2024-01-31 14532020 core:ShareCapital 2024-01-31 14532020 core:RetainedEarningsAccumulatedLosses 2024-01-31 14532020 bus:OrdinaryShareClass1 2024-01-31 14532020 2022-12-09 2024-01-31 14532020 bus:FilletedAccounts 2022-12-09 2024-01-31 14532020 bus:SmallEntities 2022-12-09 2024-01-31 14532020 bus:AuditExemptWithAccountantsReport 2022-12-09 2024-01-31 14532020 bus:PrivateLimitedCompanyLtd 2022-12-09 2024-01-31 14532020 bus:Director1 2022-12-09 2024-01-31 14532020 bus:OrdinaryShareClass1 2022-12-09 2024-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14532020 (England and Wales)

PLAN B RECYCLING TECHNOLOGIES LIMITED

Unaudited Financial Statements
For the financial period from 09 December 2022 to 31 January 2024
Pages for filing with the registrar

PLAN B RECYCLING TECHNOLOGIES LIMITED

Unaudited Financial Statements

For the financial period from 09 December 2022 to 31 January 2024

Contents

PLAN B RECYCLING TECHNOLOGIES LIMITED

BALANCE SHEET

As at 31 January 2024
PLAN B RECYCLING TECHNOLOGIES LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
31.01.2024
£
Current assets
Debtors 3 100,199
Cash at bank and in hand 484
100,683
Creditors: amounts falling due within one year 4 ( 237,658)
Net current liabilities (136,975)
Total assets less current liabilities (136,975)
Net liabilities ( 136,975)
Capital and reserves
Called-up share capital 5 1
Profit and loss account ( 136,976 )
Total shareholder's deficit ( 136,975)

For the financial period ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Plan B Recycling Technologies Limited (registered number: 14532020) were approved and authorised for issue by the Director on 29 October 2024. They were signed on its behalf by:

Mr W T Cross
Director
PLAN B RECYCLING TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 09 December 2022 to 31 January 2024
PLAN B RECYCLING TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 09 December 2022 to 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Plan B Recycling Technologies Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is 6 Seaton Park, Plymouth, PL6 5WR.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
09.12.2022 to
31.01.2024
Number
Monthly average number of persons employed by the Company during the period, including the director 3

3. Debtors

31.01.2024
£
Trade debtors 64
Other debtors 100,135
100,199

4. Creditors: amounts falling due within one year

31.01.2024
£
Trade creditors 87,628
Other taxation and social security 4,300
Other creditors 145,730
237,658

5. Called-up share capital

31.01.2024
£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1

6. Related party transactions

Other related party transactions

During the year Plan B Recycling Technologies Limited owed £145,730 to Plan B International Solutions Limited. A company in which Mr W T Cross is also a director.

7. Ultimate controlling party

Parent Company:

Plan B Circular Group Limited
C/o Francis Clark LLP Unit 18, 23 Melville Building East, Royal William Yard, Plymouth, Devon, United Kingdom, PL1 3GW.