John Planck Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02550264 (England and Wales)

JOHN PLANCK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

John Monaghan (Holdings) Limited

Mr T E C Planck

Mrs F E McCann

Mr A Sweatman

REGISTERED OFFICE:

First Floor Offices

Slip 7

The Historic Dockyard

Chatham

Kent

ME4 4TZ

REGISTERED NUMBER:

02550264 (England and Wales)

ACCOUNTANTS:

Harrison & Co

Chartered Accountants

531 Denby Dale Road West

Calder Grove

Wakefield

West Yorkshire

WF4 3ND

BANKERS:

The Royal Bank of Scotland

Leeds Park Row Branch

27 Park Row

Leeds

West Yorkshire

LS1 5QB

FIXED ASSETS

Tangible assets

4

64,347

25,503

CURRENT ASSETS

Stocks

357,961

-

Debtors

560,423

377,885

Cash at bank and in hand

916,349

673,136

1,834,733

1,051,021

CREDITORS

Amounts falling due within one year

1,193,291

587,638

NET CURRENT ASSETS

641,442

463,383

TOTAL ASSETS LESS CURRENT LIABILITIES

705,789

488,886

PROVISIONS FOR LIABILITIES

8,916

2,911

NET ASSETS

696,873

485,975

CAPITAL AND RESERVES

Called up share capital

5

4,750

4,750

Other reserves

(8,250

)

(8,250

)

Retained earnings

700,373

489,475

SHAREHOLDERS' FUNDS

696,873

485,975

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 4 March 2022 and were signed on its behalf by:

Mrs F E McCann - Director

1.	STATUTORY INFORMATION

John Planck 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 comprises the value of sales (net of value added tax, similar taxes and trade discounts) of goods and services provided in the normal course of business. Turnover is recognised when the goods are despatched, which is the same day on which the goods are delivered and hence is the point at which the risks and rewards of ownership pass to the buyer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Straight line over 8 years

Warehouse equipment

-

15% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

33% on cost and 25% Straight line

Stocks

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

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 31 (2020 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

216,419

Additions

59,131

At 31 December 2021

275,550

DEPRECIATION

At 1 January 2021

190,916

Charge for year

20,287

At 31 December 2021

211,203

NET BOOK VALUE

At 31 December 2021

64,347

At 31 December 2020

25,503

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

4,750

Ordinary

£1

4,750

4,750

6.	CONTINGENT LIABILITIES

The company has given guarantees to the company's bankers in respect of the borrowings of other group and related party companies.