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Registered number: 07185666










PLATCON LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PLATCON LIMITED
REGISTERED NUMBER: 07185666

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
36,710
42,166

  
36,710
42,166

Current assets
  

Debtors: amounts falling due within one year
 6 
385,957
602,084

Cash at bank and in hand
  
124,924
129,883

  
510,881
731,967

Creditors: amounts falling due within one year
 7 
(210,814)
(434,459)

Net current assets
  
 
 
300,067
 
 
297,508

Total assets less current liabilities
  
336,777
339,674

Provisions for liabilities
  

Deferred tax
  
(2,885)
(3,553)

  
 
 
(2,885)
 
 
(3,553)

Net assets
  
333,892
336,121


Capital and reserves
  

Called up share capital 
  
2,038
2,038

Profit and loss account
  
331,854
334,083

  
333,892
336,121


Page 1

 
PLATCON LIMITED
REGISTERED NUMBER: 07185666
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Hudson Evans
Director

Date: 27 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PLATCON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Platcon Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07185666 and registered office address 19 J Shed Kings Road, Swansea, Wales, SA1 8PL.
The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in the financial statements are rounded to the nearest £


2.


Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.Accounting policies

  
3.1

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis.

  
3.2

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgements that the directors have made in the process of applying the
company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.
Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.

  
3.3

Turnover and revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised in the period to which it relates.

Page 3

 
PLATCON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.Accounting policies (continued)

 
3.4

Going concern

After making enquires, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and to meet its financial obligations as they fall due. Accordingly, the directors continues to adopt the going concern basis in preparing the annual report and accounts.

 
3.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
3.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
PLATCON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.Accounting policies (continued)

 
3.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
3.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
on cost
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
10%
on cost
Computer equipment
-
25%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
3.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
3.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
3.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
PLATCON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.Accounting policies (continued)

 
3.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
3.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


4.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).


5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
29,289
12,500
51,774
52,161
145,724


Additions
-
-
-
4,938
4,938



At 31 March 2024

29,289
12,500
51,774
57,099
150,662



Depreciation


At 1 April 2023
26,575
11,607
24,058
41,317
103,557


Charge for the year on owned assets
1,197
223
5,177
3,798
10,395



At 31 March 2024

27,772
11,830
29,235
45,115
113,952



Net book value



At 31 March 2024
1,517
670
22,539
11,984
36,710



At 31 March 2023
2,714
893
27,716
10,844
42,167

Page 6

 
PLATCON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
192,429
58,778

Amounts owed by related parties
1,153
71,846

Other debtors
20,046
19,884

Prepayments and accrued income
161,747
417,795

Tax recoverable
10,582
33,781

385,957
602,084



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,590
30,856

Corporation tax
7,001
-

Other taxation and social security
21,191
10,487

Other creditors
3,520
3,520

Accruals and deferred income
172,512
389,596

210,814
434,459



8.


Transactions with directors

The following loans to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024
2023
£
£
T H Evans
Balance outstanding at start of year

279

279
 
Amounts repaid

-

-
 
Amounts written off

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year
279

279
 

Page 7

 
PLATCON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
        £
        £
H Evans

Balance outstanding at start of year

249

249
 
Amounts repaid

-

-
 
Amounts written off

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year

249

249
 

2024
2023
        £
        £
B Anderson

Balance outstanding at start of year

4,206

4,206
 
Amounts repaid

-

-
 
Amounts written off

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year

4,206

4,206
 

2024
2023
        £
        £
S Vincent

Balance outstanding at start of year

751

751
 
Amounts repaid

-

-
 
Amounts written off

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year

751

751
 

The balances are interest free, unsecured and there are no set repayment terms.
During the year the directors received total dividends of £71,291 (2023 - £73,292).

 
Page 8