REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 30 June 2024 |
for |
Plans Developments Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 30 June 2024 |
for |
Plans Developments Limited |
Plans Developments Limited (Registered number: 08925037) |
Contents of the Financial Statements |
for the Period 1 April 2023 to 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Plans Developments Limited |
Company Information |
for the Period 1 April 2023 to 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Airport House |
Suite 43-45 |
Purley Way |
Croydon |
CR0 0XZ |
Plans Developments Limited (Registered number: 08925037) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
Plans Developments Limited (Registered number: 08925037) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Plans Developments Limited (Registered number: 08925037) |
Notes to the Financial Statements |
for the Period 1 April 2023 to 30 June 2024 |
1. | STATUTORY INFORMATION |
Plans Developments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal activity of the company continued to be that of development of building projects. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TANGIBLE FIXED ASSETS |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Motor vehicles 20% on cost |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
INVESTMENTS IN SUBSIDIARIES |
Investments in subsidiary undertakings are recognised at cost. |
STOCKS |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. |
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential. |
In Current year, We have appropriated stock to freehold property under fixed assets at market value of £605,000 as on 30/06/2024. |
FINANCIAL INSTRUMENTS |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Plans Developments Limited (Registered number: 08925037) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
TAXATION |
The tax expense represents the sum of the tax currently payable. |
CURRENT TAX |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
GOING CONCERN |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
PROVISION FOR LIABILITIES |
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation. |
Provisions are charged as an expense to the statement of income and retained earnings in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
When payments are eventually made, they are charged to the provision carried in Balance sheet |
REPORTING PERIOD |
The entity has extended the year end by 3 months to 30 June 2024. therefore the comparative amounts presented in the financial statements are not entirely comparable. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Freehold | Motor |
property | vehicles | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 April 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 31 March 2023 |
Plans Developments Limited (Registered number: 08925037) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 June 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 30 June 2024 is represented by: |
Freehold | Motor |
property | vehicles | Totals |
£ | £ | £ |
Cost | 605,000 | 2,000 | 607,000 |
5. | FIXED ASSET INVESTMENTS |
Investment |
in |
subsidiary |
£ |
COST |
At 1 April 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 31 March 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
The director considers the carrying amounts of current liabilities approximate to their fair values. |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 30 June 2024 and the year ended 31 March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of period | ( |
) | ( |
) |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) | ( |
) |
Plans Developments Limited (Registered number: 08925037) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 June 2024 |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
Balance outstanding at start of period | ( |
) | ( |
) |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) | ( |
) |
8. | RELATED PARTY DISCLOSURES |
At the balance sheet date, included in other creditors are amounts due to the directors as follows. This loan is interest free and repayable on demand. |
A Hawkins £274,679 (2023 - £273,241) |
S Hawkins £274,679 (2023 - £273,241) |
9. | EXTRAORDINARY ITEMS |
Period | Year ended |
1.4.23 to 30.6.24 | 31.3.23 |
£ | £ |
Loss on appropriation of stock | (279,418) | - |