P L Plant Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07701490 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

P L Plant Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S L Lewis

P.L. Lewis

REGISTERED OFFICE:

75 Springfield Road

Chelmsford

Essex

CM2 6JB

REGISTERED NUMBER:

07701490 (England and Wales)

ACCOUNTANTS:

NSO Associates LLP

75 Springfield Road

Chelmsford

Essex

CM2 6JB

FIXED ASSETS

863,681

Tangible assets

4

942,674

CURRENT ASSETS

70,000

Stocks

95,000

203,216

Debtors

5

224,861

3,121

Cash at bank

15,589

276,337

335,450

CREDITORS

944,400

Amounts falling due within one year

6

852,691

(668,063

)

NET CURRENT LIABILITIES

(517,241

)

195,618

TOTAL ASSETS LESS CURRENT LIABILITIES

425,433

CREDITORS

329,405

Amounts falling due after more than one year

7

416,464

(133,787

)

NET ASSETS/(LIABILITIES)

8,969

CAPITAL AND RESERVES

100

Called up share capital

100

(133,887

)

Retained earnings

8,869

(133,787

)

SHAREHOLDERS' FUNDS

8,969

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 6 December 2021 and were signed on its behalf by:

P.L. Lewis - Director

1.	STATUTORY INFORMATION

P L Plant 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 10% on cost

Government grants

Government grants are accounted for on an accruals basis.

Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 15 (2020 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

1,275,874

Additions

318,019

Disposals

(164,829

)

At 31 March 2021

1,429,064

DEPRECIATION

At 1 April 2020

412,193

Charge for year

169,418

Eliminated on disposal

(95,221

)

At 31 March 2021

486,390

NET BOOK VALUE

At 31 March 2021

942,674

At 31 March 2020

863,681

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

833,827

DEPRECIATION

At 1 April 2020

and 31 March 2021

189,698

NET BOOK VALUE

At 31 March 2021

644,129

At 31 March 2020

644,129

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

219,536

203,216

Other debtors

5,325

-

224,861

203,216

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

-

1,094

Hire purchase contracts

217,680

220,580

Trade creditors

201,708

166,135

Taxation and social security

115,895

111,082

Other creditors

317,408

445,509

852,691

944,400

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Hire purchase contracts

366,464

329,405

Other creditors

50,000

-

416,464

329,405

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Hire purchase contracts

584,144

549,985

9.	POST BALANCE SHEET EVENTS

No events have occured since the date of the balance sheet that need to be brought to the attention of the Shareholders or Third Parties.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is P.L. Lewis.