PLUG IT IN GROUP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J T Hopkinson

A P Jordan

Mrs H E Jordan

REGISTERED OFFICE:

Unit 6

Ryefield Court

Silden

West Yorkshire

BD20 0DL

REGISTERED NUMBER:

10953829 (England and Wales)

ACCOUNTANTS:

Wilkinson and Partners

Chartered Accountants

Fairfax House

6a Mill Field Road

Cottingley Business Park

Bradford

West Yorkshire

BD16 1PY

FIXED ASSETS

Tangible assets

4

25,568

32,751

CURRENT ASSETS

Stocks

14,450

13,225

Debtors

5

178,661

177,925

Cash at bank and in hand

50,239

23,481

243,350

214,631

CREDITORS

Amounts falling due within one year

6

213,008

197,105

NET CURRENT ASSETS

30,342

17,526

TOTAL ASSETS LESS CURRENT LIABILITIES

55,910

50,277

CREDITORS

Amounts falling due after more than one year

7

15,349

35,728

NET ASSETS

40,561

14,549

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

40,461

14,449

SHAREHOLDERS' FUNDS

40,561

14,549

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

A P Jordan - Director

1.	STATUTORY INFORMATION

Plug It In Group 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2023

601

62,133

539

63,273

Additions

-

-

1,480

1,480

At 31 August 2024

601

62,133

2,019

64,753

DEPRECIATION

At 1 September 2023

-

29,816

706

30,522

Charge for year

90

8,080

493

8,663

At 31 August 2024

90

37,896

1,199

39,185

NET BOOK VALUE

At 31 August 2024

511

24,237

820

25,568

At 31 August 2023

601

32,317

(167

)

32,751

The net book value of tangible fixed assets includes £ 33,846 (2023 - £ 41,926 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Trade debtors

26,294

53,032

Other debtors

53,744

73,748

Directors' current accounts

98,623

51,145

178,661

177,925

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

9,930

14,246

Trade creditors

60,943

75,634

Social security and other taxes

34,708

27,137

VAT

76,816

34,856

Other creditors

18,036

10,827

Directors' current accounts

-

21,955

Accrued expenses

2,575

2,450

213,008

197,105

Loans from directors are interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.24

31.8.23

£

£

Bank loans - 1-2 years

10,833

20,833

Hire purchase contracts

4,516

14,895

15,349

35,728

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.24

31.8.23

value:

£

£

100

Ordinary

1

100

100