Registration number: 06395222

Plus One (South West) Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 9

Plus One (South West) Limited

(Registration number: 06395222)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	1,912,930	1,948,592
Current assets
Debtors	6	202,320	143,965
Cash at bank and in hand		98,884	123,616
		301,204	267,581
Creditors: Amounts falling due within one year	7	(311,165)	(299,702)
Net current liabilities		(9,961)	(32,121)
Total assets less current liabilities		1,902,969	1,916,471
Creditors: Amounts falling due after more than one year	7	(959,977)	(1,020,049)
Provisions for liabilities		(28,919)	(29,913)
Net assets		914,073	866,509
Capital and reserves
Called up share capital		1	1
Retained earnings		914,072	866,508
Shareholders' funds		914,073	866,509

Plus One (South West) Limited

(Registration number: 06395222)
Balance Sheet as at 31 March 2026

For the financial year ending 31 March 2026 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 her 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 7 July 2026
 

L El-Gilany Director

Plus One (South West) Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

1	General information

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

The address of its registered office is:
C/o Milsted Langdon LLP
Winchester House
Deane Gate Avenue
Taunton
TA1 2UH

The principal place of business is:
The Manor Rooms
The Cleve
Mantle Street
Wellington
Somerset
TA21 8SN
England

These financial statements were authorised for issue by the director on 7 July 2026.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis

Plus One (South West) Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for fees charged in the ordinary course of the company’s activities. Turnover is shown net of 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.

Government grants

Government grants are recognised at fair value when there is reasonable assurance that the Company will comply with the conditions attaching to them and that the grants will be received. Grants related to the purchase of assets are treated as deferred income and allocated to the income statement over the useful lives of the related assets while grants related to expenses are treated as other income in the income statement.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land	Nil
Buildings	2% and 5% straight line
Furniture, fittings and equipment	Straight line over 3 years
Motor vehicles	25% reducing balance

Plus One (South West) Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line over 10 years

Debtors

Trade debtors are amounts due from customers for 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.

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Plus One (South West) Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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.

Dividends

A dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 39 (2025 - 41).

Plus One (South West) Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2025	2,000	2,000
At 31 March 2026	2,000	2,000
Amortisation
At 1 April 2025	2,000	2,000
At 31 March 2026	2,000	2,000
Carrying amount
At 31 March 2026	-	-
At 31 March 2025	-	-

5	Tangible assets

	Freehold land and buildings £	Furniture, fittings and equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	2,099,515	122,761	23,431	2,245,707
Additions	-	15,588	20,399	35,987
Disposals	-	(5,841)	-	(5,841)
At 31 March 2026	2,099,515	132,508	43,830	2,275,853
Depreciation
At 1 April 2025	187,369	99,597	10,149	297,115
Charge for the year	41,942	20,329	8,420	70,691
Eliminated on disposal	-	(4,883)	-	(4,883)
At 31 March 2026	229,311	115,043	18,569	362,923
Carrying amount
At 31 March 2026	1,870,204	17,465	25,261	1,912,930
At 31 March 2025	1,912,146	23,164	13,282	1,948,592

Included within the net book value of land and buildings above is £1,870,204 (2025 - £1,912,146) in respect of freehold land and buildings.
 

Tangible fixed assets with a carrying amount of £1,809,294 (2025 - £1,849,883) have been pledged as security for bank borrowings.

Plus One (South West) Limited

Notes to the Financial Statements for the Year Ended 31 March 2026

6

Debtors

	2026 £	2025 £
Trade debtors	170,652	142,120
Other debtors	-	246
Prepayments	-	1,599
Accrued income	31,668	-
	202,320	143,965

7

Creditors

Due within one year	Note	2026 £	2025 £
Bank loans and overdrafts	8	62,534	57,814
Trade creditors		2,066	6,232
Social security and other taxes		80,135	81,790
Other creditors		10,926	7,336
Accruals and deferred income		155,504	146,530
		311,165	299,702