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Registered number: 02659888
Plowright Hinton Limited
Financial Statements
For The Year Ended 30 November 2023
Resolve Corporate Ltd
11 Garden Court
Tewin Road
Welwyn Garden City
Hertfordshire
AL7 1BH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 02659888
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 686 -
686 -
CURRENT ASSETS
Stocks 5 - 32,864
Debtors 6 101,222 100,338
Cash at bank and in hand 13,872 18,401
115,094 151,603
Creditors: Amounts Falling Due Within One Year 7 (281,378 ) (394,349 )
NET CURRENT ASSETS (LIABILITIES) (166,284 ) (242,746 )
TOTAL ASSETS LESS CURRENT LIABILITIES (165,598 ) (242,746 )
Creditors: Amounts Falling Due After More Than One Year 8 (16,787 ) (26,449 )
NET LIABILITIES (182,385 ) (269,195 )
CAPITAL AND RESERVES
Called up share capital 9 20,449 20,449
Other reserves 20,754 20,754
Profit and Loss Account (223,588 ) (310,398 )
SHAREHOLDERS' FUNDS (182,385) (269,195)
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Joanna Bennett
Director
28th November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Plowright Hinton Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02659888 . The registered office is Unit 1, The Weltech Centre, Ridgeway, Welwyn Garden City, AL7 2AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33%
Fixtures & Fittings 33%
Computer Equipment 33%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 4)
3 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 - 4,323 9,846 14,169
Additions 1,024 - - 1,024
As at 30 November 2023 1,024 4,323 9,846 15,193
Depreciation
As at 1 December 2022 - 4,323 9,846 14,169
Provided during the period 338 - - 338
As at 30 November 2023 338 4,323 9,846 14,507
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 November 2023 686 - - 686
As at 1 December 2022 - - - -
5. Stocks
2023 2022
£ £
Stock - 32,864
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 101,222 97,906
Other debtors - 2,432
101,222 100,338
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 4,173 14,816
Bank loans and overdrafts 10,649 10,649
Other creditors 195,594 150,956
Taxation and social security 70,962 217,928
281,378 394,349
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 16,787 26,449
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 20,449 20,449
Page 4