Company registration number:
SC625322
Platter and Pop Ltd
Unaudited filleted financial statements
31 July 2024
Platter and Pop Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Platter and Pop Ltd
Directors and other information
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Directors |
Mrs Susannah Nixon |
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Miss Sophie Arnot |
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Company number |
SC625322 |
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Registered office |
Mains of Errol Farm |
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Errol |
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Perth |
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PH2 7TE |
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Business address |
Mains of Errol Farm |
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Errol |
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Perth |
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PH2 7TE |
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Accountants |
Arm in Arm Accounting |
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Herkimer House |
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Mill Road Enterprise Park |
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Linlithgow |
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EH49 7SF |
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Platter and Pop Ltd
Statement of financial position
31 July 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
55,947 |
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71,165 |
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_______ |
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_______ |
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55,947 |
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71,165 |
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Current assets |
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Debtors |
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6 |
85,567 |
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37,658 |
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Cash at bank and in hand |
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831,606 |
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576,064 |
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_______ |
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_______ |
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917,173 |
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613,722 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
839,522) |
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(
635,644) |
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_______ |
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_______ |
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Net current assets/(liabilities) |
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77,651 |
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(
21,922) |
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_______ |
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Total assets less current liabilities |
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133,598 |
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49,243 |
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Creditors: amounts falling due |
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after more than one year |
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8 |
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(
5,628) |
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(
21,320) |
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_______ |
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_______ |
Net assets |
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127,970 |
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27,923 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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2 |
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2 |
Profit and loss account |
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127,968 |
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27,921 |
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_______ |
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Shareholders funds |
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127,970 |
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27,923 |
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_______ |
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_______ |
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
24 April 2025
, and are signed on behalf of the board by:
Mrs Susannah Nixon
Director
Company registration number:
SC625322
Platter and Pop Ltd
Notes to the financial statements
Year ended 31 July 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Mains of Errol Farm, Errol, Perth, PH2 7TE.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery |
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25 % |
straight line |
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Fittings fixtures and equipment |
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33 % |
straight line |
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Motor vehicles |
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25 % |
straight line |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023:
50
).
5.
Tangible assets
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Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 August 2023 |
21,926 |
58,067 |
33,757 |
113,750 |
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Additions |
6,914 |
558 |
9,285 |
16,757 |
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_______ |
_______ |
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_______ |
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At 31 July 2024 |
28,840 |
58,625 |
43,042 |
130,507 |
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_______ |
_______ |
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Depreciation |
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At 1 August 2023 |
13,091 |
19,541 |
14,451 |
47,083 |
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Charge for the year |
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19,054 |
8,423 |
27,477 |
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_______ |
_______ |
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_______ |
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At 31 July 2024 |
13,091 |
38,595 |
22,874 |
74,560 |
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_______ |
_______ |
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Carrying amount |
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At 31 July 2024 |
15,749 |
20,030 |
20,168 |
55,947 |
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_______ |
_______ |
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_______ |
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At 31 July 2023 |
8,835 |
38,526 |
19,306 |
66,667
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_______ |
_______ |
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_______ |
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6.
Debtors
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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85,567 |
37,658 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Bank loans and overdrafts |
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4,050 |
4,050 |
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Trade creditors |
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72,255 |
34,941 |
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Corporation tax |
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63,468 |
12,597 |
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Social security and other taxes |
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69,899 |
33,949 |
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Other creditors |
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629,850 |
550,107 |
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_______ |
_______ |
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839,522 |
635,644 |
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_______ |
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8.
Creditors: amounts falling due after more than one year
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2024 |
2023 |
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£ |
£ |
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Bank loans and overdrafts |
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3,238 |
7,501 |
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Other creditors |
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2,390 |
13,819 |
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_______ |
_______ |
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5,628 |
21,320 |
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_______ |
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