Company registration number SC312849 (Scotland)
PLAN (BORDERS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PLAN (BORDERS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
Notes to the financial statements
3 - 7
PLAN (BORDERS) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
80,957
84,106
Current assets
Debtors
6
28,006
2,207
Cash at bank and in hand
84,068
113,697
112,074
115,904
Creditors: amounts falling due within one year
7
(100,907)
(70,737)
Net current assets
11,167
45,167
Total assets less current liabilities
92,124
129,273
Creditors: amounts falling due after more than one year
8
(49,233)
(58,394)
Provisions for liabilities
10
(235)
Net assets
42,891
70,644
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
42,791
70,544
Total equity
42,891
70,644
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for:
(a) ensuring that the company keeps accounting records which comply with Section 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 of the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.
These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
PLAN (BORDERS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 29 April 2025
Mr J Quaradeghini
Director
PLAN (BORDERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Plan (Borders) Limited is a private company limited by shares incorporated in Scotland. The company's registered number and registered office address can be found on the Company Information page.
1.1
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. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of services supplied during the period, exclusive of Value Added Tax.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has now been fully amortised.
1.4
Intangible fixed assets other than goodwill
Intangible assets, being franchise fees of both Glasgow and Paisley, have now been fully amortised.
1.5
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.
Plant and machinery etc
25% reducing balance
Fixtures and fittings
15% straight line
Computers
25% straight line
Motor vehicles
25% reducing balance
1.6
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current tax
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
PLAN (BORDERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reserved at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and law that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.7
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
5
3
Taxation
The tax charge on the profit for the year was as follows:
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
6,709
Adjustments in respect of prior periods
(2,518)
Total current tax
(2,518)
6,709
Deferred tax
Origination and reversal of timing differences
(235)
(48)
Total tax (credit)/charge
(2,753)
6,661
PLAN (BORDERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Intangible fixed assets
Goodwill
Franchise Fee
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
30,000
57,727
87,727
Amortisation and impairment
At 1 January 2024 and 31 December 2024
30,000
57,727
87,727
Carrying amount
At 31 December 2024
At 31 December 2023
5
Tangible fixed assets
Plant and machinery etc
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
9,196
2,941
7,703
87,215
107,055
Additions
19,854
19,854
At 31 December 2024
9,196
2,941
7,703
107,069
126,909
Depreciation and impairment
At 1 January 2024
5,395
2,941
7,130
7,483
22,949
Depreciation charged in the year
950
466
21,587
23,003
At 31 December 2024
6,345
2,941
7,596
29,070
45,952
Carrying amount
At 31 December 2024
2,851
107
77,999
80,957
At 31 December 2023
3,801
573
79,732
84,106
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
2024
2023
£
£
Motor vehicles
53,060
46,481
53,060
46,481
PLAN (BORDERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
25,610
Prepayments and accrued income
2,396
2,207
28,006
2,207
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,397
10,140
Obligations under finance leases
11,355
6,876
Corporation tax
6,709
Other taxation and social security
20,633
12,268
Other creditors
55,591
31,952
Accruals and deferred income
2,931
2,792
100,907
70,737
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,409
14,806
Hire purchase contracts
44,824
43,588
49,233
58,394
9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
10
235
PLAN (BORDERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
10
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
-
235
2024
Movements in the year:
£
Liability at 1 January 2024
235
Credit to profit or loss
(235)
Liability at 31 December 2024
-