REGISTERED NUMBER: 06778574 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Plan IT Retail Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Plows

Mrs M Plows

REGISTERED OFFICE:

1 Doolittle Yard

Froghall Road

Ampthill

Bedfordshire

MK45 2NW

REGISTERED NUMBER:

06778574 (England and Wales)

ACCOUNTANTS:

Godfrey Laws & Co Limited

65 Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

FIXED ASSETS

Tangible assets

4

45,099

59,352

CURRENT ASSETS

Debtors

5

35,408

24,714

Cash at bank

448,757

534,782

484,165

559,496

CREDITORS

Amounts falling due within one year

6

11,373

132,223

NET CURRENT ASSETS

472,792

427,273

TOTAL ASSETS LESS CURRENT LIABILITIES

517,891

486,625

PROVISIONS FOR LIABILITIES

786

2,047

NET ASSETS

517,105

484,578

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

517,005

484,478

517,105

484,578

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 8 September 2025 and were signed on its behalf by:

J A Plows - Director

1.	STATUTORY INFORMATION

Plan IT Retail Limited 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using income based valuation methodologies. The fair value determined at the grant date is expensed on a straight line basis over the vesting period, based on the estimate of share that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payments under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modification fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

180,235

Additions

2,460

Disposals

(833

)

At 31 December 2024

181,862

DEPRECIATION

At 1 January 2024

120,883

Charge for year

16,588

Eliminated on disposal

(708

)

At 31 December 2024

136,763

NET BOOK VALUE

At 31 December 2024

45,099

At 31 December 2023

59,352

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

33,403

21,458

Other debtors

2,005

3,256

35,408

24,714

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

661

-

Taxation and social security

(22,450

)

61,848

Other creditors

33,162

70,375

11,373

132,223

7.	SHARE-BASED PAYMENT TRANSACTIONS

The company set up an Enterprise Management Incentive Option scheme on 16 October 2023. Three employees and 3 associated companies were granted options to buy Ordinary B shares and the exercise price is £0.03 per share.

The options can be exercised at an exit date upon completion and in accordance to the specified criteria.

The options will lapse in the following circumstances:

- The option is transferred or assigned

- A charge or security interest is created over the option

- The option holder is declared bankrupt or takes certain steps in connection with insolvency

- The option holder ceases to be an employee

- After 10 years providing that the option has not already been exercised prior to that date.

LIABILITIES AND EXPENSES

During the year, the company recognised total share-based payment expenses of £1,918 (2023 £1,918)