Plandescil Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01447113 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

FOR

PLANDESCIL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Briggs

M J Hare

Mrs S V Hare

C S Jenkins

O A Jones

D Medler

SECRETARY:

D Medler

REGISTERED OFFICE:

42-44 Connaught Road

Attleborough

Norfolk

NR17 2BW

REGISTERED NUMBER:

01447113 (England and Wales)

ACCOUNTANTS:

Quinneys

Chartered Certified Accountants

Saxon House

Hellesdon Park Road

Norwich

Norfolk

NR6 5DR

FIXED ASSETS

Tangible assets

4

124,868

177,528

CURRENT ASSETS

Stocks

211,627

271,474

Debtors

5

400,461

388,734

Cash at bank and in hand

586,431

387,826

1,198,519

1,048,034

CREDITORS

Amounts falling due within one year

6

262,853

223,772

NET CURRENT ASSETS

935,666

824,262

TOTAL ASSETS LESS CURRENT LIABILITIES

1,060,534

1,001,790

PROVISIONS FOR LIABILITIES

18,139

27,298

NET ASSETS

1,042,395

974,492

CAPITAL AND RESERVES

Called up share capital

40

40

Retained earnings

1,042,355

974,452

SHAREHOLDERS' FUNDS

1,042,395

974,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 23 June 2022 and were signed on its behalf by:

A J Briggs - Director

1.	STATUTORY INFORMATION

Plandescil 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.

Land and buildings

-

20% on cost

Plant and machinery etc

-

100% on cost, 25% on cost, 20% on cost and 15% on cost

Stocks and work in progress

Work in progress is valued at selling price.

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 defined contribution pension schemes for its directors and employees. The assets of the schemes are held separately from those of the company in independently administered funds. Contributions payable for the year are charged in the profit and loss account.

Share-based payments

For equity-settled share-based payment transactions, an entity shall measure the goods or services received, and the corresponding increase in equity, directly, at the fair value of the goods or services received, unless that fair value cannot be estimated reliably. If the entity cannot estimate reliably the fair value of the goods or services received, the entity shall measure their value, and the corresponding increase in equity, indirectly, by reference to the fair value of the equity instruments granted.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2020 - 45 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 November 2020

42,793

558,218

601,011

Additions

-

31,545

31,545

Disposals

-

(46,197

)

(46,197

)

At 31 October 2021

42,793

543,566

586,359

DEPRECIATION

At 1 November 2020

30,038

393,445

423,483

Charge for year

3,189

78,359

81,548

Eliminated on disposal

-

(43,540

)

(43,540

)

At 31 October 2021

33,227

428,264

461,491

NET BOOK VALUE

At 31 October 2021

9,566

115,302

124,868

At 31 October 2020

12,755

164,773

177,528

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

364,061

342,295

Other debtors

36,400

46,439

400,461

388,734

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

3,763

22,608

Taxation and social security

141,414

113,239

Other creditors

117,676

87,925

262,853

223,772

7.	RELATED PARTY DISCLOSURES

At the balance sheet date there existed loans from the directors and members of their immediate family totalling £11,538 (2020: £22,810), in respect of funds introduced to cover business expenditure.

The premises from which the business operates in Attleborough is owned by certain directors and leased to the company. Rent paid for the year amounted to £24,000 (2020: £24,000).

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the board of directors.

9.	SHARE BASED PAYMENTS - EMPLOYEE SHARE OPTIONS

The number of options issued is set out below:

2020 2019

No. No.

Outstanding at the beginning of the year 10,000 10,000

Granted in the year -

Outstanding at the end of the year 10,000 10,000

The company is unable to directly measure the fair value of employee services received. Given the change of ownership of the company, the director's believe that future profitability will be withdrawn as remuneration by directors and employees which in turn will effect any significant increase in value of the company. In view of this it is thought that the fair value of employees services received by the company will be reflected in its accounts with negligible additional cost as a result of share options exercised. .