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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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PLANTMASTERS LIMITED |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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PLANTMASTERS LIMITED |
PLANTMASTERS LIMITED (REGISTERED NUMBER: 03059828) |
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Contents of the Financial Statements |
for the year ended 31 March 2019 |
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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 | 4 |
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PLANTMASTERS LIMITED |
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Company Information |
for the year ended 31 March 2019 |
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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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Accountants: |
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Chartered Accountants |
Northside House |
69 Tweedy Road |
Bromley |
Kent |
BR1 3WA |
PLANTMASTERS LIMITED (REGISTERED NUMBER: 03059828) |
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Balance Sheet |
31 March 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks |
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Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
7 |
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Net assets |
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Capital and reserves |
Called up share capital | 8 |
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Retained earnings |
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Shareholders' funds |
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The directors acknowledge their responsibilities for: |
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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. |
PLANTMASTERS LIMITED (REGISTERED NUMBER: 03059828) |
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Balance Sheet - continued |
31 March 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors on
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PLANTMASTERS LIMITED (REGISTERED NUMBER: 03059828) |
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Notes to the Financial Statements |
for the year ended 31 March 2019 |
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1. | Statutory information |
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Plantmasters Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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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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Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires |
management to make estimates and judgement that affect the reported amounts of assets and liabilities as well |
as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of |
revenues and expenses during the reporting period. |
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There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried |
out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate |
as possible, there remains a risk that the policy does not match the useful life of the assets. |
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There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried |
out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as |
possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of. |
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There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is |
carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as |
accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately |
prove to be uncollectable. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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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. |
PLANTMASTERS LIMITED (REGISTERED NUMBER: 03059828) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2019 |
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2. | Accounting policies - continued |
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Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party |
to the contractual provisions of the instrument. |
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Trade and other debtors and creditors are classified as basic financial instruments and measured at initial |
recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the |
effective interest rate method. A provision is established when there is objective evidence that the company will |
not be able to collect all amounts due. |
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Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank |
and bank overdrafts. |
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Financial liabilities and equity instruments issued by the company are classified in accordance with the |
substance of the contractual arrangements entered into and the definitions of a financial liability and an equity |
instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company |
after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds |
received, net of direct issue costs. |
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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. |
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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. |
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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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3. | Employees and directors |
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The average number of employees during the year was
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PLANTMASTERS LIMITED (REGISTERED NUMBER: 03059828) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2019 |
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4. | Tangible fixed assets |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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Depreciation |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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Net book value |
At 31 March 2019 |
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At 31 March 2018 |
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The net book of tangible fixed assets included £28,376 (2018 - £26,280) in respect of assets held under finance |
lease or hire purchase contracts. The depreciation charge in respect of such assets amounted to £9,459 (2018 - |
£8,760) for the year. |
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5. | Debtors |
31.3.19 | 31.3.18 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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6. | Creditors: amounts falling due within one year |
31.3.19 | 31.3.18 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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PLANTMASTERS LIMITED (REGISTERED NUMBER: 03059828) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2019 |
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7. | Creditors: amounts falling due after more than one year |
31.3.19 | 31.3.18 |
£ | £ |
Hire purchase contracts |
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8. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.19 | 31.3.18 |
value: | £ | £ |
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Ordinary | £1 | 45,000 | 45,000 |
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Preference | £1 | 12,000 | 12,000 |
57,000 | 57,000 |