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PLASMA TREAT (UK) LIMITED |
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Financial Statements for the Year Ended 31 December 2021 |
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REGISTERED NUMBER:
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PLASMA TREAT (UK) LIMITED |
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Financial Statements for the Year Ended 31 December 2021 |
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PLASMA TREAT (UK) LIMITED (REGISTERED NUMBER: 04367847) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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PLASMA TREAT (UK) LIMITED |
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Company Information |
for the Year Ended 31 December 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Granville House |
2 Tettenhall Road |
Wolverhampton |
West Midlands |
WV1 4SB |
PLASMA TREAT (UK) LIMITED (REGISTERED NUMBER: 04367847) |
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Balance Sheet |
31 December 2021 |
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31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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PLASMA TREAT (UK) LIMITED (REGISTERED NUMBER: 04367847) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Plasma Treat (UK) Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
Management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
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There are no main areas of estimation uncertainty that may have a significant effect on the amounts recognised in the financial statements. |
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Turnover |
Turnover represents sales of goods net of vat. Turnover is recognised when goods are delivered to the customer. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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PLASMA TREAT (UK) LIMITED (REGISTERED NUMBER: 04367847) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Going concern |
The directors have considered the period ending 1 year following the approval of these financial statements. They have continued to adopt the going concern basis of accounting following good results in the first 6 months of the current financial year and continued group support. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2021 |
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Impairments | (15,305 | ) | - | - | (15,305 | ) |
At 31 December 2021 |
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DEPRECIATION |
At 1 January 2021 |
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Charge for year |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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PLASMA TREAT (UK) LIMITED (REGISTERED NUMBER: 04367847) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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5. | STOCKS |
31.12.21 | 31.12.20 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' current accounts | 1,978 | 2,984 |
Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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Amount due to parent undertaking | 139,140 | 99,522 |
Directors' current accounts | 278 | 279 |
Accruals and deferred income |
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8. | FINANCIAL INSTRUMENTS |
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Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
PLASMA TREAT (UK) LIMITED (REGISTERED NUMBER: 04367847) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was qualified on the following basis: |
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Basis for qualified opinion |
We did not observe the counting of the physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2021, which are included in the balance sheet at £64,201, by using other audit procedures. |
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Consequently we were unable to determine whether any adjustment to this amount was necessary. |
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We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
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for and on behalf of
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020: |
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31.12.21 | 31.12.20 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The advance was interest free and repayable on demand. |
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12. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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13. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |
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14. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Plasma Treat Finance International GMBH & Co. |
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The ultimate controlling party is
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PLASMA TREAT (UK) LIMITED (REGISTERED NUMBER: 04367847) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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15. | FINANCIAL RISK MANAGEMENT |
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The company has exposures to two main areas of risk; liquidity risk and customer credit exposure. |
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Liquidity risk |
The objective of the company in managing liquidity risk is to ensure that it can meet its financial obligations as and when they fall due. The company expects to meet its financial obligations through operating cash flows. In the event that the operating cash flows would not cover all the financial obligations the company has credit facilities available. |
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Customer credit exposure |
The company may offer credit terms to its customers which allow payment of the debt after delivery of the goods or services. The company is at risk to the extent that a customer may be unable to pay the debt on the specified due date. This risk is mitigated by strong on-going customer relationships. |