Plane Construction Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09462233 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2021

for

Plane Construction Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M Hatcher

SECRETARY:

Mrs J Hatcher

REGISTERED OFFICE:

237 Westcombe Hill

London

United Kingdom

SE3 7DW

REGISTERED NUMBER:

09462233 (England and Wales)

ACCOUNTANTS:

Finsbury Robinson Limited

237 Westcombe Hill

Blackheath

London

SE3 7DW

FIXED ASSETS

Tangible assets

4

27,438

36,262

CURRENT ASSETS

Debtors

5

1,704

20,782

Cash at bank

122,133

98,559

123,837

119,341

CREDITORS

Amounts falling due within one year

6

86,187

70,203

NET CURRENT ASSETS

37,650

49,138

TOTAL ASSETS LESS CURRENT LIABILITIES

65,088

85,400

PROVISIONS FOR LIABILITIES

5,213

9,169

NET ASSETS

59,875

76,231

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

59,873

76,229

59,875

76,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 27 April 2021 and were signed by:

Mr M Hatcher - Director

1.	STATUTORY INFORMATION

Plane Construction 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2020

39,432

Additions

439

At 28 February 2021

39,871

DEPRECIATION

At 1 March 2020

3,170

Charge for year

9,263

At 28 February 2021

12,433

NET BOOK VALUE

At 28 February 2021

27,438

At 29 February 2020

36,262

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Trade debtors

1,704

20,782

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Trade creditors

2,070

1,887

Taxation and social security

8,448

23,718

Other creditors

75,669

44,598

86,187

70,203