PLS Enterprises Limited - Period Ending 2019-09-30

Registration number: 09123244

PLS Enterprises Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 September 2019

PLS Enterprises Limited

(Registration number: 09123244)
Balance Sheet as at 30 September 2019

	Note	2019 £	2018 £
Fixed assets
Investment property	3	194,984	194,984
Current assets
Debtors	4	50,856	23,090
Cash at bank and in hand		11,969	21,955
		62,825	45,045
Creditors: Amounts falling due within one year	5	(4,342)	(4,221)
Net current assets		58,483	40,824
Total assets less current liabilities		253,467	235,808
Creditors: Amounts falling due after more than one year	5	(200,490)	(200,490)
Net assets		52,977	35,318
Capital and reserves
Called up share capital	6	10	10
Profit and loss account		52,967	35,308
Total equity		52,977	35,318

For the financial year ending 30 September 2019 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 1

PLS Enterprises Limited

(Registration number: 09123244)
Balance Sheet as at 30 September 2019

Approved and authorised by the director on 23 June 2020
 

Mr D Csehi Director

The notes on pages 3 to 5 form an integral part of these financial statements.

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PLS Enterprises Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

1	General information

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

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

The principal place of business is:
Unit 10
New Brook Business Park
Shirebrook
DN20 8GB

The company's registration number is 09123244.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

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.

Tax

The tax expense for the period comprises current 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 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.

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PLS Enterprises Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit or loss.

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.

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	Investment properties

	2019 £
At 1 October	194,984
At 30 September	194,984

The value of the investment property is reviewed annually by the directors.

There has been no valuation of investment property by an independent valuer.

4

Debtors

	2019 £	2018 £
Other debtors	50,856	23,000
Social security and other taxes	-	90
	50,856	23,090

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PLS Enterprises Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

5

Creditors

	2019 £	2018 £
Due within one year
Taxation and social security	4,142	4,221
Other creditors	200	-
	4,342	4,221
Due after one year
Other creditors	200,490	200,490

6	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	10	10	10	10

7	Related party transactions

Other transactions with directors

At the balance sheet date the amount due to Mr D Csehi was £200,490 (2018 - £200,490). No interest is charged on this balance.

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