Plantation Business Services Limited 03977123 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is the buying and letting of residential and holiday property Digita Accounts Production Advanced 6.30.9574.0 true true 03977123 2023-05-01 2024-04-30 03977123 2024-04-30 03977123 core:CurrentFinancialInstruments 2024-04-30 03977123 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 03977123 core:OtherResidualIntangibleAssets 2024-04-30 03977123 core:FurnitureFittingsToolsEquipment 2024-04-30 03977123 bus:SmallEntities 2023-05-01 2024-04-30 03977123 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03977123 bus:FullAccounts 2023-05-01 2024-04-30 03977123 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03977123 bus:RegisteredOffice 2023-05-01 2024-04-30 03977123 bus:Director1 2023-05-01 2024-04-30 03977123 bus:Director2 2023-05-01 2024-04-30 03977123 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03977123 core:ComputerSoftware 2023-05-01 2024-04-30 03977123 core:OtherResidualIntangibleAssets 2023-05-01 2024-04-30 03977123 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 03977123 core:PlantMachinery 2023-05-01 2024-04-30 03977123 core:OtherRelatedParties 2023-05-01 2024-04-30 03977123 countries:England 2023-05-01 2024-04-30 03977123 2023-04-30 03977123 core:OtherResidualIntangibleAssets 2023-04-30 03977123 core:FurnitureFittingsToolsEquipment 2023-04-30 03977123 2022-05-01 2023-04-30 03977123 2023-04-30 03977123 core:CurrentFinancialInstruments 2023-04-30 03977123 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 03977123 core:OtherResidualIntangibleAssets 2023-04-30 03977123 core:FurnitureFittingsToolsEquipment 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 03977123

Plantation Business Services Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Plantation Business Services Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Plantation Business Services Limited

(Registration number: 03977123)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,729

3,028

Tangible assets

5

64,805

37,686

Investment property

6

1,844,220

1,809,668

 

1,910,754

1,850,382

Current assets

 

Stocks

7

985

1,005

Debtors

8

4,150

1,925

Cash at bank and in hand

 

6,008

22,113

 

11,143

25,043

Creditors: Amounts falling due within one year

9

(1,585,327)

(1,510,637)

Net current liabilities

 

(1,574,184)

(1,485,594)

Total assets less current liabilities

 

336,570

364,788

Provisions for liabilities

(10,987)

(28,788)

Net assets

 

325,583

336,000

Capital and reserves

 

Called up share capital

2

2

Non distributable reserve

322,868

322,868

Retained earnings

2,713

13,130

Shareholders' funds

 

325,583

336,000

 

Plantation Business Services Limited

(Registration number: 03977123)
Statement of Financial Position as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Income and Retained Earnings.

Approved and authorised by the Board on 12 January 2025 and signed on its behalf by:
 

Mrs LA Robinson
Director

Mr IM Robinson
Director

 
     
 

Plantation Business Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
High Dalby House
Dalby Forest Drives
Pickering
North Yorkshire
YO18 7LP
England

These financial statements were authorised for issue by the Board on 12 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

At the balance sheet date the company's current liabilities exceeded its current assets. The company has received assurances from the directors that they will continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of approval of these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be be necessary should this basis not continue to be appropriate..

Revenue recognition

Turnover represents amounts receivable for rent.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will apply with the conditions attaching to them and the grants will be received.

 

Plantation Business Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 substantially enacted by the reporting date and that are expected to apply to the reversal of the timing differences.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% reducing balance

Fixtures, fittings & equipment

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Intangible assets

Intangible assets are initially stated at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Plantation Business Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Plantation Business Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Website
 £

Total
£

Cost or valuation

At 1 May 2023

7,330

7,330

At 30 April 2024

7,330

7,330

Amortisation

At 1 May 2023

4,302

4,302

Amortisation charge

1,299

1,299

At 30 April 2024

5,601

5,601

Carrying amount

At 30 April 2024

1,729

1,729

At 30 April 2023

3,028

3,028

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

303,357

303,357

Additions

49,987

49,987

At 30 April 2024

353,344

353,344

Depreciation

At 1 May 2023

265,671

265,671

Charge for the year

22,868

22,868

At 30 April 2024

288,539

288,539

Carrying amount

At 30 April 2024

64,805

64,805

At 30 April 2023

37,686

37,686

 

Plantation Business Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Investment properties

2024
£

At 1 May

1,809,668

Additions

34,552

At 30 April

1,844,220

The investment property class of fixed assets was revalued on 30 April 2022 by Mr I M Robinson who is internal to the company. The basis of this valuation was an open market value. The directors' believe there has been no material change to the property valuation in the year. This class of assets has a current value of £1,800,000 (2023 - £1,800,000). The depreciation on this historical cost is £nil (2023 - £nil).

There has been no valuation of investment property by an independent valuer.

7

Stocks

2024
£

2023
£

Other inventories

985

1,005

8

Debtors

2024
£

2023
£

Trade debtors

4,150

1,925

4,150

1,925

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,269

938

Accruals and deferred income

3,308

6,150

Other creditors

1,580,750

1,503,549

1,585,327

1,510,637

 

Plantation Business Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Related party transactions

Summary of transactions with other related parties

At 30 April 2024 the company owed the directors £1,580,551 (2023 - £1,503,549). The amount is interest free and repayable on demand.