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Registered Number: SC664628
Scotland

 

 

 

PLANT BAR LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Directors Mr A C Forbes
Mrs K Forbes
Mr M A Forbes
Registered Number SC664628
Registered Office 91/7 Constitution Street
Edinburgh
EH6 7AE
Accountants M & S Accountancy and Taxation Limited
Unit 26, Dunfermline Business Centre
Izatt Avenue
Dunfermline
Fife
KY11 3BZ
Secretary Dalgety House LLP
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 20,469    25,390 
Investments 4 101    101 
20,570    25,491 
Current assets      
Stocks 5 7,800    10,200 
Debtors 6 24,282    15,520 
Cash at bank and in hand 2,314    3,111 
34,396    28,831 
Creditors: amount falling due within one year 7 (36,770)   (37,798)
Net current assets (2,374)   (8,967)
 
Total assets less current liabilities 18,196    16,524 
Creditors: amount falling due after more than one year 8 (114,400)   (95,000)
Provisions for liabilities 9 (3,889)   (10,532)
Net assets (100,093)   (89,008)
 

Capital and reserves
     
Called up share capital 10 202    101 
Profit and loss account (100,295)   (89,109)
Shareholders' funds (100,093)   (89,008)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 March 2025 and were signed on its behalf by:


-------------------------------
Mr M A Forbes
Director
2
General Information
Plant Bar Limited is a private company, limited by shares, registered in Scotland, registration number SC664628, registration address 91/7 Constitution Street, Edinburgh, EH6 7AE.

1.

Accounting policies

Significant accounting policies
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)
Going concern basis
These financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have agreed to provide financial assistance to the company to ensure that all liabilities are met as they fall due and they will not seek repayment of amounts due to them until there are sufficient cash reserves to do so. The directors have considered a period of twelve months from the date of approval of the financial statements.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Operating lease rentals
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

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 companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred taxation
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Leasehold improvements 20% Reducing Balance
Computer Equipment 33.33% Straight Line
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.                                                                                                                                                                                
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.         
                                                                                                                                                        
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a longterm interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.                                                                                                                                                        
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.                                            
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.                                                                                                                                                       
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Leasehold improvements   Computer Equipment   Total
  £   £   £
At 01 July 2023 44,546    6,213    50,759 
Additions    
Disposals    
At 30 June 2024 44,546    6,213    50,759 
Depreciation
At 01 July 2023 21,941    3,428    25,369 
Charge for year 4,521    400    4,921 
On disposals    
At 30 June 2024 26,462    3,828    30,290 
Net book values
Closing balance as at 30 June 2024 18,084    2,385    20,469 
Opening balance as at 01 July 2023 22,605    2,785    25,390 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 July 2023 101    101 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 June 2024 101    101 

5.

Stocks

2024
£
  2023
£
Stocks 7,800    10,200 
7,800    10,200 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Called up Share Capital Not Paid 101   
Other Debtors 24,181    15,520 
24,282    15,520 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
PAYE & Social Security 308   
Accrued Expenses 16,291    21,428 
Other Creditors 15,704    11,217 
Directors' Current Accounts 2,821    2,798 
VAT 1,646    2,355 
36,770    37,798 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Other Creditors 114,400    95,000 
114,400    95,000 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 3,889    10,532 
3,889    10,532 

10.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
36 Class A shares of £1.00 each 36    18 
68 Class B shares of £1.00 each 68    34 
68 Class C shares of £1.00 each 68    34 
30 Class D shares of £1.00 each 30    15 
202    101 

11.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Other related parties20,209 11,549 
Key Management Personnel(114,000)(95,000)



Other Related Parties

The loan is unsecured and repayable on demand. No interest has been charged on the loan.

12.

Impairment of Assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
13.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.
14.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
15.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
3