IRIS Accounts Production v25.1.3.33 06354322 director 1.9.23 31.8.24 31.8.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063543222023-08-31063543222024-08-31063543222023-09-012024-08-31063543222022-08-31063543222022-09-012023-08-31063543222023-08-3106354322ns15:EnglandWales2023-09-012024-08-3106354322ns14:PoundSterling2023-09-012024-08-3106354322ns10:Director12023-09-012024-08-3106354322ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3106354322ns10:SmallEntities2023-09-012024-08-3106354322ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3106354322ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3106354322ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3106354322ns10:FullAccounts2023-09-012024-08-3106354322ns10:OrdinaryShareClass12023-09-012024-08-3106354322ns10:RegisteredOffice2023-09-012024-08-3106354322ns5:CurrentFinancialInstruments2024-08-3106354322ns5:CurrentFinancialInstruments2023-08-3106354322ns5:Non-currentFinancialInstruments2024-08-3106354322ns5:Non-currentFinancialInstruments2023-08-3106354322ns5:ShareCapital2024-08-3106354322ns5:ShareCapital2023-08-3106354322ns5:RetainedEarningsAccumulatedLosses2024-08-3106354322ns5:RetainedEarningsAccumulatedLosses2023-08-3106354322ns5:PlantMachinery2023-09-012024-08-3106354322ns5:PlantMachinery2023-08-3106354322ns5:PlantMachinery2024-08-3106354322ns5:PlantMachinery2023-08-3106354322ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3106354322ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3106354322ns10:OrdinaryShareClass12024-08-31
REGISTERED NUMBER: 06354322 (England and Wales)















PLANE WIRED LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






PLANE WIRED LTD (REGISTERED NUMBER: 06354322)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


PLANE WIRED LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: J W McGeachie





REGISTERED OFFICE: 12 Church View Crescent
Fiskerton
Lincoln
LN3 4HL





REGISTERED NUMBER: 06354322 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

PLANE WIRED LTD (REGISTERED NUMBER: 06354322)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,435 2,729

CURRENT ASSETS
Debtors 5 22,081 29,425
Cash at bank - 14,713
22,081 44,138
CREDITORS
Amounts falling due within one year 6 13,908 12,260
NET CURRENT ASSETS 8,173 31,878
TOTAL ASSETS LESS CURRENT LIABILITIES 9,608 34,607

CREDITORS
Amounts falling due after more than one year 7 (17,026 ) (18,735 )

PROVISIONS FOR LIABILITIES - (682 )
NET (LIABILITIES)/ASSETS (7,418 ) 15,190

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (7,419 ) 15,189
SHAREHOLDERS' FUNDS (7,418 ) 15,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 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 to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 May 2025 and were signed by:




J W McGeachie - Director


PLANE WIRED LTD (REGISTERED NUMBER: 06354322)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Plane Wired Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

When the outcome of a transaction can be estimated reliably, turnover from engineering services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to render of services.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 laws that have been enacted or substantively enacted by the year 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.

Going concern
During the year ended 31 August 2024 the company sustained a loss after tax of £7,608 (2023: a profit of £26,832) and at that date its liabilities exceeded its assets by £7,418 (2023: its assets exceeded its liabilities by £15,190). The company is reliant upon the ongoing support of its director. The director consider the going concern basis of accounting to be appropriate for the business and in these financial statements.

PLANE WIRED LTD (REGISTERED NUMBER: 06354322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 19,665
Disposals (16,797 )
At 31 August 2024 2,868
DEPRECIATION
At 1 September 2023 16,936
Charge for year 717
Eliminated on disposal (16,220 )
At 31 August 2024 1,433
NET BOOK VALUE
At 31 August 2024 1,435
At 31 August 2023 2,729

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 22,081 29,425

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 7,169 2,776
Taxation and social security 2,821 5,575
Other creditors 3,918 3,909
13,908 12,260

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans 17,026 18,735

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,039 6,912

PLANE WIRED LTD (REGISTERED NUMBER: 06354322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
1 Ordinary £1 1 1

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There is an overdrawn directors loan account totalling £21,638 brought forward (2023: £11,014). During the year, the directors of the company borrowed £32,716 (2023: £26,196) from the company and repaid £42,474 (2023: £4472). Interest of £513 was charged on the overdrawn amount in the year. The balance at the end of the year totalled £11,879 overdrawn (2023: £21,638 overdrawn).

10. DIVIDENDS

At the time the dividends were paid the director was not aware that there were insufficient profits available for distribution and the director acknowledges that no further distributions can be made until there are sufficient profits available for that purpose.