2 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 11,698 10,287 466 10,753 945 1,411 23,150 23,150 23,150 xbrli:pure xbrli:shares iso4217:GBP 07089842 2024-04-01 2025-03-31 07089842 2025-03-31 07089842 2024-03-31 07089842 2023-04-01 2024-03-31 07089842 2024-03-31 07089842 2023-03-31 07089842 core:MotorVehicles 2024-04-01 2025-03-31 07089842 bus:Director1 2024-04-01 2025-03-31 07089842 core:WithinOneYear 2025-03-31 07089842 core:WithinOneYear 2024-03-31 07089842 core:ShareCapital 2025-03-31 07089842 core:ShareCapital 2024-03-31 07089842 core:RetainedEarningsAccumulatedLosses 2025-03-31 07089842 core:RetainedEarningsAccumulatedLosses 2024-03-31 07089842 core:CostValuation core:Non-currentFinancialInstruments 2025-03-31 07089842 core:Non-currentFinancialInstruments 2025-03-31 07089842 core:Non-currentFinancialInstruments 2024-03-31 07089842 bus:SmallEntities 2024-04-01 2025-03-31 07089842 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 07089842 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07089842 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07089842 bus:FullAccounts 2024-04-01 2025-03-31 07089842 core:OfficeEquipment 2024-04-01 2025-03-31 07089842 core:OfficeEquipment 2025-03-31 07089842 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 07089842
Plan4Life Limited
Filleted Unaudited Financial Statements
31 March 2025
Plan4Life Limited
Financial Statements
Year ended 31 March 2025
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Plan4Life Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
Fixed assets
Tangible assets
5
945
1,411
Investments
6
23,150
23,150
--------
--------
24,095
24,561
Current assets
Debtors
7
1,200
1,200
Cash at bank and in hand
44,840
29,764
--------
--------
46,040
30,964
Creditors: amounts falling due within one year
8
37,963
28,849
--------
--------
Net current assets
8,077
2,115
--------
--------
Total assets less current liabilities
32,172
26,676
Provisions
Taxation including deferred tax
215
320
--------
--------
Net assets
31,957
26,356
--------
--------
Capital and reserves
Called up share capital
8
8
Profit and loss account
31,949
26,348
--------
--------
Shareholder funds
31,957
26,356
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Plan4Life Limited
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 1 July 2025 , and are signed on behalf of the board by:
Mr L Whiteside
Director
Company registration number: 07089842
Plan4Life Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
Plan4Life Limited is a private company limited by shares, registered in the United Kingdom number 07089842 . Its registered office is 35 Mayfield Avenue, Springhead, Saddleworth, Oldham, OL4 4SH. The principal activity of the company during the year was that of the provision of financial advice.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Motor vehicles
-
18% reducing balance
Equipment
-
33% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2024 and 31 March 2025
11,698
11,698
--------
--------
Depreciation
At 1 April 2024
10,287
10,287
Charge for the year
466
466
--------
--------
At 31 March 2025
10,753
10,753
--------
--------
Carrying amount
At 31 March 2025
945
945
--------
--------
At 31 March 2024
1,411
1,411
--------
--------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2024 and 31 March 2025
23,150
--------
Impairment
At 1 April 2024 and 31 March 2025
--------
Carrying amount
At 31 March 2025
23,150
--------
At 31 March 2024
23,150
--------
7. Debtors
2025
2024
£
£
Trade debtors
1,200
1,200
-------
-------
8. Creditors: amounts falling due within one year
2025
2024
£
£
Social security and other taxes
34,297
25,077
Other creditors
3,666
3,772
--------
--------
37,963
28,849
--------
--------
9. Related party transactions
The company was under the control of Mr L Whiteside throughout the current and previous year. Mr L Whiteside is the managing director and majority shareholder.