Plant U Need Limited - Period Ending 2017-05-31

Registration number: 06233122

Plant U Need Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2017

Plant U Need Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 3

Plant U Need Limited

(Registration number: 06233122)
Balance Sheet as at 31 May 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	3	24,942	26,725
Current assets
Debtors	4	15,251	3,863
Cash at bank and in hand		39,864	13,476
		55,115	17,339
Creditors: Amounts falling due within one year	5	(45,958)	(28,961)
Net current assets/(liabilities)		9,157	(11,622)
Total assets less current liabilities		34,099	15,103
Provisions for liabilities		(3,396)	(3,020)
Net assets		30,703	12,083
Capital and reserves
Called up share capital		1	1
Profit and loss account		30,702	12,082
Total equity		30,703	12,083

For the financial year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 10 February 2018
 

.........................................

Mr D P Watters

Director

The notes on pages 2 to 3 form an integral part of these financial statements.

Page 1

Plant U Need Limited

Notes to the Financial Statements for the Year Ended 31 May 2017

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH
United Kingdom

The principal place of business is:
Okerswood Cottage
Oakerswood
Affpuddle
Dorchester
Dorset
DT2 8QZ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Fixtures and fittings	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 2

Plant U Need Limited

Notes to the Financial Statements for the Year Ended 31 May 2017

2	Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Tangible assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 June 2016	1,190	34,084	35,274
Additions	1,000	5,532	6,532
At 31 May 2017	2,190	39,616	41,806
Depreciation
At 1 June 2016	297	8,252	8,549
Charge for the year	474	7,841	8,315
At 31 May 2017	771	16,093	16,864
Carrying amount
At 31 May 2017	1,419	23,523	24,942
At 31 May 2016	893	25,832	26,725

4

Debtors

	2017 £	2016 £
Trade debtors	14,700	3,600
Other debtors	551	263
	15,251	3,863

5

Creditors

	Note	2017 £	2016 £
Due within one year
Corporation tax		5,250	-
Amounts owed to connected parties		37,226	28,289
Other tax and social security		1,897	22
Other creditors		1,585	650
		45,958	28,961

Page 3