Registered number
10406546
Plum Kitchens & Home Improvements Limited
Filleted Accounts
30 September 2024
Plum Kitchens & Home Improvements Limited
Registered number: 10406546
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 55,088 58,609
55,089 58,610
Current assets
Stocks 19,581 38,499
Debtors 5 94,061 33,337
Cash at bank and in hand 96,348 52,515
209,990 124,351
Creditors: amounts falling due within one year 6 (152,093) (110,238)
Net current assets 57,897 14,113
Total assets less current liabilities 112,986 72,723
Creditors: amounts falling due after more than one year 7 (6,667) (16,667)
Provisions for liabilities (8,993) (9,014)
Net assets 97,326 47,042
Capital and reserves
Called up share capital 1,000 1,000
Share premium 2,958 2,958
Profit and loss account 93,368 43,084
Shareholders' funds 97,326 47,042
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Alison Joy Trombley
Director
Approved by the board on 23 June 2025
Plum Kitchens & Home Improvements Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from construction contracts. Turnover is recognised on a contract-by-contract basis by reference to the stage of completion of the contract, and the invoicing terms and payment milestones included in the contract. The stage of completion of a contract may also be measured by comparing the costs incurred for work performed to date to the total estimated contract costs where this is deemed a more appropriate measure.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold premises improvements over 10 years
Plant & machinery, tools & eqt. 25% straight line to 15% reducing balance
Office equipment over 4 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. To calculate the estimated net realisable value of showroom stock which has been on display for more than 12 months an obsolescence and impairment provision of 25% per annum is deducted from the original cost value. Where contracts overlap accounting periods work-in-progress may be reviewed on a contact-by-contract basis.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 14,341
At 30 September 2024 14,341
Amortisation
At 1 October 2023 14,340
At 30 September 2024 14,340
Net book value
At 30 September 2024 1
At 30 September 2023 1
Intangible fixed assets include:
Goodwill with a cost of £1 acquired on 1st October 2016.
CAD software and Websites having a cost of £14,340 and fully amortised over an estimated economic life of 3 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 51,253 36,257 85,338 172,848
Additions 1,103 4,430 13,964 19,497
Disposals - - (17,900) (17,900)
At 30 September 2024 52,356 40,687 81,402 174,445
Depreciation
At 1 October 2023 16,544 29,475 68,220 114,239
Charge for the year 5,191 3,132 13,132 21,455
On disposals - - (16,337) (16,337)
At 30 September 2024 21,735 32,607 65,015 119,357
Net book value
At 30 September 2024 30,621 8,080 16,387 55,088
At 30 September 2023 34,709 6,782 17,118 58,609
5 Debtors 2024 2023
£ £
Trade debtors 69,136 13,680
Other debtors 24,925 19,657
94,061 33,337
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 30,729 35,660
Taxation and social security costs 78,325 55,350
Pensions 441 243
Deferred income 16,589 -
Amounts due to directors 11,170 3,097
Other creditors 4,839 5,888
152,093 110,238
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,667 16,667
8 Other information
Plum Kitchens & Home Improvements Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 17
Weights Farm Business Park
Weights Lane
Redditch
B97 6RG
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