Company registration number 11664889 (England and Wales)
PL (Import & Export) Limited
FINANCIAL STATEMENTS
for the year ended 31 August 2024
PAGES FOR FILING WITH REGISTRAR
PL (Import & Export) Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
PL (Import & Export) Limited
Statement of financial position
as at 31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
39,908
68,213
Current assets
Debtors
1,789,833
1,244,970
Cash at bank and in hand
422,704
528,851
2,212,537
1,773,821
Creditors: amounts falling due within one year
(2,044,797)
(1,611,225)
Net current assets
167,740
162,596
Total assets less current liabilities
207,648
230,809
Net assets
201,736
219,596
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
201,636
219,496
Total equity
201,736
219,596

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

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 1 March 2025
Q T Ly
Director
Company registration number 11664889 (England and Wales)
PL (Import & Export) Limited
Notes to the financial statements
for the year ended 31 August 2024
- 2 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions available to it.

 

The financial statements of the company are consolidated in the financial statements of Sing Kee Group Limited. These consolidated financial statements are available from its registered office, 30 Cross Stamford Street, Leeds, West Yorkshire, LS7 1BA.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT. Turnover is recognised on the supply of goods to the customer.

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:

Plant and equipment
20% reducing balance
Motor vehicles
20% reducing balance

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.

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 income statement 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.

PL (Import & Export) Limited
Notes to the financial statements (continued)
for the year ended 31 August 2024
1
Accounting policies
(continued)
- 3 -
Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated, but not reversed, at the balance sheet date. Timing differences represent accumulated differences between the company’s taxable profit and its financial profit arise primarily from the differences between the accelerated capital allowances and depreciation.

Retirement benefits

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

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
8
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 September 2023
62,945
30,578
93,523
Disposals
-
0
(19,995)
(19,995)
Transfers
(62,945)
62,945
-
0
At 31 August 2024
-
0
73,528
73,528
Depreciation and impairment
At 1 September 2023
15,982
9,328
25,310
Depreciation charged in the year
-
0
10,893
10,893
Eliminated in respect of disposals
-
0
(2,583)
(2,583)
Transfers
(15,982)
15,982
-
0
At 31 August 2024
-
0
33,620
33,620
Carrying amount
At 31 August 2024
-
0
39,908
39,908
At 31 August 2023
46,963
21,250
68,213
4
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
5,912
11,213
PL (Import & Export) Limited
Notes to the financial statements (continued)
for the year ended 31 August 2024
- 4 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Charles R Moorby
Statutory Auditor:
B M Howarth Ltd
Date of audit report:
1 March 2025
7
Related party transactions

The company is exempt from disclosing the related party transactions with group companies as its results are included in the consolidated accounts of its parent undertaking, Sing Kee Group Limited.

8
Parent company

The director is of the opinion that Sing Kee Group Limited is the ultimate parent company.

 

Sing Kee Group Limited is the smallest group in which the company's financial statements are consolidated, whose registered office is 30 Cross Stamford Street, Leeds, West Yorkshire, LS7 1BA.

 

The company was controlled throughout the year by Q T Ly by virtue of his 100% shareholding in Sing Kee Group Limited.

9
Company information

PL (Import & Export) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 1-3, Pilot Street, Leeds, West Yorkshire, LS9 7NF.

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