Company No: 07122242 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Fixed assets
Intangible assets	3	4,248		3,199
Tangible assets	4	60,258		99,340
Investments		1		1
		64,507		102,540
Current assets
Stocks		0		9,750
Debtors	5	31,827		8,897
Cash at bank and in hand	6	59,422		162,134
		91,249		180,781
Creditors
Amounts falling due within one year	7	( 144,244)		( 219,421)
Net current liabilities		(52,995)		(38,640)
Total assets less current liabilities		11,512		63,900
Creditors
Amounts falling due after more than one year	8	( 153,107)		0
Provisions for liabilities		1,137		( 2,974)
Net (liabilities)/assets		( 140,458)		60,926
Capital and reserves
Called-up share capital	9	3		3
Profit and loss account		( 140,461 )		60,923
Total shareholders' (deficit)/funds		( 140,458)		60,926

For the financial year ending 31 January 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Plan B International Solutions Limited (registered number: 07122242) were approved and authorised for issue by the Board of Directors on 30 March 2022. They were signed on its behalf by:

Mr William Timothy Cross Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Plan B International Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp North Quay House, Sutton Harbour, Plymouth, PL4 0RA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

The dividends voted during the year were voted based on the information available to the directors at the point of the distribution. At the time of distribution there were sufficient reserves in the company but at the year end the company has fallen into negative reserves. If required financial support will be forthcoming from the directors and shareholders.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

3 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	5 years straight line
Plant and machinery	3 years straight line
Vehicles	15 % reducing balance
Fixtures and fittings	3 years straight line
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		6

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 February 2021	7,390		7,390
Additions	3,735		3,735
At 31 January 2022	11,125		11,125
Accumulated amortisation
At 01 February 2021	4,191		4,191
Charge for the financial year	2,686		2,686
At 31 January 2022	6,877		6,877
Net book value
At 31 January 2022	4,248		4,248
At 31 January 2021	3,199		3,199

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 February 2021	65,280		6,526		79,174		3,541		19,822		174,343
Additions	0		1,362		0		229		5,780		7,371
Disposals	0		0		( 33,993)		0		0		( 33,993)
At 31 January 2022	65,280		7,888		45,181		3,770		25,602		147,721
Accumulated depreciation
At 01 February 2021	39,171		5,857		9,433		3,542		17,000		75,003
Charge for the financial year	13,056		541		7,698		45		1,474		22,814
Disposals	0		0		( 10,354)		0		0		( 10,354)
At 31 January 2022	52,227		6,398		6,777		3,587		18,474		87,463
Net book value
At 31 January 2022	13,053		1,490		38,404		183		7,128		60,258
At 31 January 2021	26,109		669		69,741		( 1)		2,822		99,340

5. Debtors

	2022		2021
	£		£
Trade debtors	8,919		0
Corporation tax	14,181		0
Other debtors	8,727		8,897
	31,827		8,897

6. Cash and cash equivalents

	2022		2021
	£		£
Cash at bank and in hand	59,422		162,134

7. Creditors: amounts falling due within one year

	2022		2021
	£		£
Bank loans	12,500		0
Trade creditors	18,416		15,697
Amounts owed to Group undertakings	1		1
Other creditors	102,199		148,474
Corporation tax	0		131
Other taxation and social security	6,103		1,582
Obligations under finance leases and hire purchase contracts	5,025		53,536
	144,244		219,421

8. Creditors: amounts falling due after more than one year

	2022		2021
	£		£
Bank loans	137,500		0
Obligations under finance leases and hire purchase contracts	15,607		0
	153,107		0

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
8 Ordinary A shares of £ 0.10 each	0.80		0.80
10 Ordinary B shares of £ 0.10 each	1.00		1.00
8 Ordinary C shares of £ 0.10 each	0.80		0.80
2 Ordinary D shares of £ 0.10 each	0.20		0.20
2 Ordinary E shares of £ 0.10 each	0.20		0.20
	3.00		3.00

10. Financial commitments

Other financial commitments

	2022		2021
	£		£
	21,250		36,250