Registered number
09835373
Plans and Planning Limited
Filleted Accounts
31 October 2024
Plans and Planning Limited
Registered number: 09835373
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,200 4,400
Tangible assets 4 35,518 47,565
37,718 51,965
Current assets
Debtors 5 3,835 3,546
Cash at bank and in hand - 6,991
3,835 10,537
Creditors: amounts falling due within one year 6 (13,997) (31,402)
Net current liabilities (10,162) (20,865)
Total assets less current liabilities 27,556 31,100
Creditors: amounts falling due after more than one year 7 (4,617) (10,461)
Net assets 22,939 20,639
Capital and reserves
Called up share capital 100 100
Profit and loss account 22,839 20,539
Shareholders' funds 22,939 20,639
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P F Kirk
Director
Approved by the board on 4 December 2024
Plans and Planning Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 33% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 22,000
At 31 October 2024 22,000
Amortisation
At 1 November 2023 17,600
Provided during the year 2,200
At 31 October 2024 19,800
Net book value
At 31 October 2024 2,200
At 31 October 2023 4,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 8,930 50,430 59,360
At 31 October 2024 8,930 50,430 59,360
Depreciation
At 1 November 2023 6,542 5,253 11,795
Charge for the year 753 11,294 12,047
At 31 October 2024 7,295 16,547 23,842
Net book value
At 31 October 2024 1,635 33,883 35,518
At 31 October 2023 2,388 45,177 47,565
5 Debtors 2024 2023
£ £
Other debtors 3,835 3,546
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,291 4,931
Trade creditors 71 97
Taxation and social security costs 7,518 2,738
Other creditors 1,117 23,636
13,997 31,402
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,617 10,461
8 Other information
Plans and Planning Limited is a private company limited by shares and incorporated in England. Its registered office is:
Flat 2, Rimington House
Rimington Lane
Rimington
Clitheroe
BB7 4DS
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