Plasnets Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09656629 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2021

FOR

PLASNETS SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Abbiati

A M Corbetta

SECRETARY:

M Abbiati

REGISTERED OFFICE:

12 Rossett Park

Rossett

Wrexham

LL12 0FB

REGISTERED NUMBER:

09656629 (England and Wales)

ACCOUNTANTS:

M. D. Coxey and Co. Limited

Chartered Accountants

25 Grosvenor Road

Wrexham

LL11 1BT

BANKERS:

HSBC Bank plc

17-19 Regent Street

Wrexham

LL11 1RN

FIXED ASSETS

Tangible assets

4

631

642

CURRENT ASSETS

Debtors

5

100,035

81,718

Cash at bank

29,869

546

129,904

82,264

CREDITORS

Amounts falling due within one year

6

112,203

80,968

NET CURRENT ASSETS

17,701

1,296

TOTAL ASSETS LESS CURRENT LIABILITIES

18,332

1,938

CREDITORS

Amounts falling due after more than one year

7

(16,458

)

-

PROVISIONS FOR LIABILITIES

9

(120

)

(122

)

NET ASSETS

1,754

1,816

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

754

816

SHAREHOLDERS' FUNDS

1,754

1,816

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th January 2022 and were signed on its behalf by:

M Abbiati - Director

1.	STATUTORY INFORMATION

Plasnets Solutions Ltd 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.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st July 2020

200

720

920

Additions

-

321

321

At 30th June 2021

200

1,041

1,241

DEPRECIATION

At 1st July 2020

100

178

278

Charge for year

50

282

332

At 30th June 2021

150

460

610

NET BOOK VALUE

At 30th June 2021

50

581

631

At 30th June 2020

100

542

642

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

51,035

32,718

Other debtors

49,000

49,000

100,035

81,718

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

3,292

-

Trade creditors

11,367

7,706

Tax

5,992

10,300

Social security and other taxes

327

-

VAT

16,678

4,900

Other creditors

8,004

8,006

Directors' current accounts

64,758

48,271

Accrued expenses

1,785

1,785

112,203

80,968

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans - 1-2 years

3,950

-

Bank loans - 2-5 years

11,850

-

Bank loans - over 5 years

658

-

16,458

-

30.6.21

30.6.20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - over 5 years

658

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.21

30.6.20

£

£

Bank loans

19,750

-

9.	PROVISIONS FOR LIABILITIES

30.6.21

30.6.20

£

£

Deferred tax

120

122

Deferred

tax

£

Balance at 1st July 2020

122

Movement in year due to:-

changes in tax rates

changes in tax allowances

(2

)

Balance at 30th June 2021

120

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

1,000

Ordinary

£1

1,000

1,000

11.	CAPITAL COMMITMENTS

30.6.21

30.6.20

£

£

Contracted but not provided for in the

financial statements

-

-

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £25,000 (2020 - £44,000) were paid to the directors .

13.	ULTIMATE CONTROLLING PARTY

The controlling party is M Abbiati.