Company No: 04194021 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Unaudited Financial Statements

DIRECTOR	Martin John Hurt
SECRETARY	Martin John Hurt
REGISTERED OFFICE	Leanne House
	6 Avon Close
	Weymouth
	DT4 9UX
	United Kingdom
COMPANY NUMBER	04194021(England and Wales)
CHARTERED ACCOUNTANTS	Albert Goodman LLP
	Leanne House
	6 Avon Close
	Weymouth
	Dorset
	DT4 9UX

		2020		2019
	Note	£		£
Fixed assets
Tangible assets	3	93,083		59,457
		93,083		59,457
Current assets
Stocks	4	275,000		263,000
Debtors	5	2,370		8,277
Cash at bank and in hand		25,619		13,956
		302,989		285,233
Creditors
Amounts falling due within one year	6	( 215,723)		( 234,621)
Net current assets		87,266		50,612
Total assets less current liabilities		180,349		110,069
Provisions for liabilities		( 5,034)		( 1,511)
Net assets		175,315		108,558
Capital and reserves
Called-up share capital		100		100
Profit and loss account		175,215		108,458
Total shareholder's funds		175,315		108,558

For the financial year ending 31 December 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Plant World Limited (registered number: 04194021) were approved and authorised for issue by the Director on 29 September 2021. They were signed on its behalf by:

Martin John Hurt 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.

General information and basis of accounting

Plant World 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 Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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.

The functional currency of Plant World Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

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. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

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 over its expected useful life, as follows:

Short leasehold land and buildings at straight line over 20 years
Plant and machinery at 25% of written down value

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	2020		2019
	Number		Number
Monthly average number of persons employed by the Company during the year, including director	13		11

3. Tangible assets

	Land and buildings		Plant and machinery etc		Total
	£		£		£
Cost
At 01 January 2020	66,053		38,707		104,760
Additions	18,724		20,133		38,857
At 31 December 2020	84,777		58,840		143,617
Accumulated depreciation
At 01 January 2020	14,546		30,757		45,303
Charge for the financial year	3,641		1,590		5,231
At 31 December 2020	18,187		32,347		50,534
Net book value
At 31 December 2020	66,590		26,493		93,083
At 31 December 2019	51,507		7,950		59,457

4. Stocks

	2020		2019
	£		£
Stocks	275,000		263,000

5. Debtors

	2020		2019
	£		£
Trade debtors	2,567		7,758
Other debtors	( 197)		519
	2,370		8,277

6. Creditors: amounts falling due within one year

	2020		2019
	£		£
Trade creditors	165,976		129,457
Other creditors	17,467		77,423
Corporation tax	13,459		12,563
Other taxation and social security	18,821		15,178
	215,723		234,621

7. Related party transactions

During the year the director maintained an interest free loan account which is repayable on demand. At the balance sheet date the amount due to the director was £358 (2019 £61,354).