REGISTERED NUMBER: 04250243 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Plus Finance Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

S Pullen

Mrs N Pullen

REGISTERED OFFICE:

Unit 1 Pressmore Farm Barns

Ashley Green Road

Chesham

Buckinghamshire

HP5 3PF

REGISTERED NUMBER:

04250243 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

Suite 301, Stanmore Business

and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

215,843

341,945

215,843

341,945

CURRENT ASSETS

Debtors

6

201,583

2,864,025

Cash at bank and in hand

797,610

1,374,014

999,193

4,238,039

CREDITORS

Amounts falling due within one year

7

1,110,786

869,658

NET CURRENT (LIABILITIES)/ASSETS

(111,593

)

3,368,381

TOTAL ASSETS LESS CURRENT LIABILITIES

104,250

3,710,326

CREDITORS

Amounts falling due after more than one year

8

(71,782

)

(110,863

)

PROVISIONS FOR LIABILITIES

(26,296

)

(52,354

)

NET ASSETS

6,172

3,547,109

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6,072

3,547,009

SHAREHOLDERS' FUNDS

6,172

3,547,109

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 9 December 2025 and were signed on its behalf by:

S Pullen - Director

1.	STATUTORY INFORMATION

Plus Finance 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remain unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, has been amortised evenly over its useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Building improvements

-

20% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Government assisted loans

Loans received through the Bounce Back Loan Scheme are accounted for on the date the funds are received by the company. The first twelve months of the interest charge, which is funded by the government, is recognised in the profit and loss account as both an interest charge and as a government grant receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

525,000

AMORTISATION

At 1 January 2024

and 31 December 2024

525,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Building

and

Motor

Computer

improvements

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

119,361

69,794

224,758

42,774

456,687

Additions

4,212

4,321

-

3,675

12,208

Disposals

-

(32,238

)

(74,759

)

-

(106,997

)

At 31 December 2024

123,573

41,877

149,999

46,449

361,898

DEPRECIATION

At 1 January 2024

21,303

29,472

41,860

22,107

114,742

Charge for year

24,012

15,810

40,010

11,511

91,343

Eliminated on disposal

-

(24,836

)

(35,194

)

-

(60,030

)

At 31 December 2024

45,315

20,446

46,676

33,618

146,055

NET BOOK VALUE

At 31 December 2024

78,258

21,431

103,323

12,831

215,843

At 31 December 2023

98,058

40,322

182,898

20,667

341,945

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

39,203

61,656

Other debtors

100,196

2,563,641

Directors' current accounts

-

144,628

Prepayments and accrued income

62,184

94,100

201,583

2,864,025

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,410

10,146

Hire purchase contracts (see note 9)

28,684

28,684

Trade creditors

690,873

469,971

Tax

145,542

139,018

Social security and other taxes

37,925

30,473

VAT

99,931

92,840

Other creditors

9,336

8,065

Directors' current accounts

1,117

-

Accruals and deferred income

86,968

90,461

1,110,786

869,658

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

4,374

10,397

Bank loans - 2-5 years

-

4,374

Hire purchase contracts (see note 9)

67,408

96,092

71,782

110,863

9.	LEASING AGREEMENTS

Obligations under hire purchase contracts are secured on the assets concerned.

At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £311.655 (December 2023: £348,763).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 December 2024 and the period ended 31 December 2023:

2024

2023

£

£

Mrs N Pullen

Balance outstanding at start of year

72,193

212,918

Amounts advanced

882

77,500

Amounts repaid

(73,075

)

(218,225

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

72,193

S Pullen

Balance outstanding at start of year

72,435

213,160

Amounts advanced

-

77,500

Amounts repaid

(72,435

)

(218,225

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

72,435