Pelan Limited - Accounts to registrar (filleted) - small 22.3
Pelan Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| PELAN LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 |
| PELAN LIMITED (REGISTERED NUMBER: SC168220) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2022 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| PELAN LIMITED (REGISTERED NUMBER: SC168220) |
| BALANCE SHEET |
| 31 JULY 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| PELAN LIMITED (REGISTERED NUMBER: SC168220) |
| BALANCE SHEET - continued |
| 31 JULY 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| PELAN LIMITED (REGISTERED NUMBER: SC168220) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2022 |
| 1. | STATUTORY INFORMATION |
| Pelan Limited is a private company, limited by shares, registered in Scotland. The registered office is Strathleven Care Home, 30 Strathleven Place, Dumbarton, Scotland, G82 1BA. |
| The financial statements are presented in Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| There were no material departures from that standard. |
| Turnover |
| The turnover shown in the profit and loss account represents amounts invoiced to residents during the period. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the services have been passed to the resident. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Impairment of non-financial assets |
| At each reporting date non-financial assets not carried at fair value, like plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss. |
| Government grants |
| Government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable |
| Stocks |
| Stocks are valued at the lower of cost and estimated selling price less cost to sell. |
| PELAN LIMITED (REGISTERED NUMBER: SC168220) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to related parties and bank loans. |
| Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. |
| Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
| Cash and cash equivalents includes cash in hand. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
| Taxation |
| Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
| With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense. |
| Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. |
| Operating lease commitments |
| Operating lease rentals payable are recognised in the profit and loss account on a straight line basis over the period of the lease. |
| Provisions |
| Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date. |
| Judgements |
| The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements. |
| PELAN LIMITED (REGISTERED NUMBER: SC168220) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2022 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2021 |
| Additions |
| At 31 July 2022 |
| DEPRECIATION |
| At 1 August 2021 |
| Charge for year |
| At 31 July 2022 |
| NET BOOK VALUE |
| At 31 July 2022 |
| At 31 July 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| PELAN LIMITED (REGISTERED NUMBER: SC168220) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2022 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| The Royal Bank of Scotland Plc hold a floating charge and fixed security over the company and all of its assets in respect of loan to the company. |
| 9. | RELATED PARTY DISCLOSURES |
| At the year end, the company owed the directors £218,196 (2021: £237,089). This amount is interest free, unsecured and repayable on demand. |
| 10. | OPERATING LEASE COMMITMENTS |
| At the year end, the company had operating leases commitments totalling £11,534 (2021: £14,753). |