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Registration number: 11472875

PLT SP1 Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2025

 

PLT SP1 Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

PLT SP1 Limited

Company Information

Director

Mr P L Tobin

Company secretary

Mrs C L Tobin

Registered office

St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

Accountants

Young & Co St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

 

PLT SP1 Limited

(Registration number: 11472875)
Balance Sheet as at 30 April 2025

Note

2025
£

2024
£

Current assets

 

Stocks

4

3,862,079

3,592,900

Debtors

5

738,206

309,893

Cash at bank and in hand

 

32,465

24,785

 

4,632,750

3,927,578

Creditors: Amounts falling due within one year

6

(1,680,058)

(3,233,321)

Total assets less current liabilities

 

2,952,692

694,257

Creditors: Amounts falling due after more than one year

6

(3,086,824)

(685,662)

Net (liabilities)/assets

 

(134,132)

8,595

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(134,133)

8,594

Shareholders' (deficit)/funds

 

(134,132)

8,595

For the financial year ending 30 April 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 August 2025
 

 

PLT SP1 Limited

(Registration number: 11472875)
Balance Sheet as at 30 April 2025
(continued)

.........................................
Mr P L Tobin
Director

 

PLT SP1 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA
England

The principal place of business is:
Laurel House
Stretton Sugwas
Hereford
Herefordshire
HR4 7AA

These financial statements were authorised for issue by the director on 5 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

PLT SP1 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
(continued)

2

Accounting policies (continued)

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

PLT SP1 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
(continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

PLT SP1 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
(continued)

4

Stocks

2025
£

2024
£

Work in progress

3,862,079

3,592,900

5

Debtors

Note

2025
£

2024
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

735,271

302,002

Other debtors

 

2,935

7,891

 

738,206

309,893

 

PLT SP1 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
(continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

-

1,540,361

Trade creditors

 

1,136

768

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

1,639,703

1,649,367

Taxation and social security

 

37,682

35,245

Accruals and deferred income

 

1,537

7,580

 

1,680,058

3,233,321

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

3,086,824

685,662


Creditors include bank loans which are secured of £3,086,824 (2024 - £2,226,203).

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Share Capital of £1 each

1

1

1

1

       
 

PLT SP1 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
(continued)

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

3,086,824

685,662

Current loans and borrowings

2025
£

2024
£

Bank borrowings

-

1,540,361

9

Related party transactions

Loans from related parties

2025

Parent
£

Total
£

At start of period

1,649,367

1,649,367

Advanced

1,377,430

1,377,430

Repaid

(1,387,094)

(1,387,094)

At end of period

1,639,703

1,639,703

2024

Parent
£

Total
£

At start of period

1,302,681

1,302,681

Advanced

1,126,200

1,126,200

Repaid

(779,514)

(779,514)

At end of period

1,649,367

1,649,367

 

PLT SP1 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
(continued)

9

Related party transactions (continued)

Terms of loans from related parties

The loans are interest free, unsecured and repayable on demand.
 

10

Parent company

The company's immediate parent is Riverside Construction (Hereford) Limited, incorporated in England.