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Registered number: 11509127









PLOUGH GREAT BENTLEY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
PLOUGH GREAT BENTLEY LIMITED
REGISTERED NUMBER: 11509127

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
24,967
43,693

Tangible assets
 5 
119,653
126,681

  
144,620
170,374

Current assets
  

Stocks
  
16,374
8,677

Debtors: amounts falling due within one year
 6 
70,143
28,546

Cash at bank and in hand
 7 
9,942
2,079

  
96,459
39,302

Creditors: amounts falling due within one year
 8 
(640,238)
(616,047)

Net current liabilities
  
 
 
(543,779)
 
 
(576,745)

Total assets less current liabilities
  
(399,159)
(406,371)

Creditors: amounts falling due after more than one year
 9 
(10,951)
(25,577)

  

Net liabilities
  
(410,110)
(431,948)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(410,111)
(431,949)

  
(410,110)
(431,948)


Page 1

 
PLOUGH GREAT BENTLEY LIMITED
REGISTERED NUMBER: 11509127
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 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: 




Benjamin Patel
Director

Date: 8 April 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
PLOUGH GREAT BENTLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Plough Great Bentley Limited is a private company limited by shares, incorporated in England & Wales (Registered no: 11509127). Its registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. 
The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on the directors and shareholders for financial support, which the directors are confident will continue for a period of at least another 12 months following the approval of these financial statements.
As at 30 April 2024, the company had net liabilities of £410,110. The directors and shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

Page 3

 
PLOUGH GREAT BENTLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
PLOUGH GREAT BENTLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and loss account over its useful economic life.

Other 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.

 
2.6

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, as shown below.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Straight-line over the life of the lease
Plant and machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Computer equipment
-
33%
Straight-line

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.

Page 5

 
PLOUGH GREAT BENTLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.8

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.

 
2.9

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.

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2023 - 13).

Page 6

 
PLOUGH GREAT BENTLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
131,080



At 30 April 2024

131,080



Amortisation


At 1 May 2023
87,387


Charge for the year on owned assets
18,726



At 30 April 2024

106,113



Net book value



At 30 April 2024
24,967



At 30 April 2023
43,693



Page 7
 


 
PLOUGH GREAT BENTLEY LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


5.


Tangible fixed assets






Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 May 2023
72,805
46,599
3,000
146,871
10,330
279,605


Additions
-
23,179
-
3,488
2,613
29,280



At 30 April 2024

72,805
69,778
3,000
150,359
12,943
308,885



Depreciation


At 1 May 2023
31,703
14,631
1,798
96,351
8,442
152,925


Charge for the year on owned assets
10,398
11,211
300
12,703
1,695
36,307



At 30 April 2024

42,101
25,842
2,098
109,054
10,137
189,232



Net book value



At 30 April 2024
30,704
43,936
902
41,305
2,806
119,653



At 30 April 2023
41,102
31,968
1,202
50,520
1,889
126,681

Page 8
 
PLOUGH GREAT BENTLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Trade debtors
28,496
-

Other debtors
22,561
22,505

Prepayments and accrued income
19,076
5,911

Amounts owed by group undertakings
10
130

70,143
28,546



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
9,942
2,079

Less: bank overdrafts
(18,988)
(18,703)

(9,046)
(16,624)



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
18,988
18,703

Bank loans
13,579
42,626

Trade creditors
52,309
63,068

Amounts owed to group undertakings
84,495
67,089

Other taxation and social security
76,546
45,191

Obligations under finance lease and hire purchase contracts
956
8,520

Other creditors
391,315
368,800

Accruals and deferred income
2,050
2,050

640,238
616,047


Page 9

 
PLOUGH GREAT BENTLEY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
3,024

Other loans
10,951
21,597

Net obligations under finance leases and hire purchase contracts
-
956

10,951
25,577



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
13,579
42,626


13,579
42,626

Amounts falling due after more than one year

Bank loans
-
3,024

Other loans
10,951
21,597


10,951
24,621



24,530
67,247



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,626 (2023: £1,557). Contributions totalling £689 (2023: £417) were payable to the fund at the balance sheet date and are included in creditors.


12.


Controlling party

The immediate parent company is AB Patel Investments Limited, a company registered in England and Wales.

 
Page 10