Plutoll Limited - Accounts

Registered number

02501660

Plutoll Limited

Report and Accounts

31 May 2014

Plutoll Limited
Report and accounts
Contents




	Page

Company information	1
Director's report	2
Profit and loss account	3
Balance sheet	4
Notes to the accounts	5 to 7

Plutoll Limited

Company Information

Director

A J Gilfillan

Secretary

Oakland Secretaries Limited

Accountants

Mann Made Accounting Services Limited

19-21 Circular Road

Douglas

Isle of Man

IM1 4ES

Registered office

Fourth Floor

20 Margaret Street

London

United Kingdom

W1W 8RS

Registered number

02501660

Plutoll Limited
Registered number:		02501660
Director's Report

The director presents his report and accounts for the year ended 31 May 2014.

Principal activities
The company's principal activity during the year continued to be that of an investment company

Directors
The following persons served as directors during the year:

	A J Gilfillan


Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 8 January 2015 and signed on its behalf.





A J Gilfillan
Director

Plutoll Limited
Profit and Loss Account
for the year ended 31 May 2014


Notes		2014		2013
£			£


Administrative expenses		(12,505)		(4,609)

Operating loss		(12,505)		(4,609)

Other interest receivable and similar income	2	6,653		795
Interest payable and similar charges	3	-		(17,458)

Loss on ordinary activities before taxation		(5,852)		(21,272)

Tax on loss on ordinary activities	4	1,636		4,537

Loss for the financial year		(4,216)		(16,735)

Plutoll Limited
Balance Sheet
as at 31 May 2014

Notes			2014			2013
£				£
Fixed assets
Investments	5		2,679,166			2,679,840

Current assets
Debtors	6	124,685			126,973
Cash at bank and in hand		1,226			13,894
		125,911			140,867

Creditors: amounts falling due within one year	7	(1,872,942)			(1,884,356)

Net current liabilities			(1,747,031)			(1,743,489)

Net assets			932,135			936,351

Capital and reserves
Called up share capital	8		1,950,169			1,950,169
Profit and loss account	9		(1,018,034)			(1,013,818)

Shareholders' funds			932,135			936,351

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.




A J Gilfillan
Director
Approved by the board on 8 January 2015

Plutoll Limited
Notes to the Accounts
for the year ended 31 May 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	The financial statements have been prepared on the going concern basis. This is considered appropriate as the company's shareholders and creditors will continue to provide financial support to the company for the foreseeable future. Should the company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise.

	The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

	Investments
	Fixed asset investments are stated at cost less provision for diminution in value.

	Group accounts
	The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a medium-sized group. The company has therefore taken advantage of the exemptions provided by section 248 of the Companies Act 1985 not to prepare group accounts.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated in Pounds Sterling at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.


2	Other interest receivable and similar income					2014		2013
£							£

	Loan interest receivable					572		795
	Gain on foreign exchange					6,081		-
						6,653		795


2	Interest payable					2014		2013
£							£

	Loss on foreign exchange					-		17,458


3	Taxation					2014		2013
£							£

	UK corporation tax					(1,636)		(4,537)


4	Investments
Investments in
subsidiary					Other
undertakings					investments		Total
£					£		£
	Cost
	At 1 June 2013			2,666,444		13,396		2,679,840
	Revaluation			-		(674)		(674)
	Disposals
	At 31 May 2014			2,666,444		12,722		2,679,166

	The company holds 20% or more of the share capital of the following companies:

Country of
	Company	Shares held			registration or
		Class		%	incorporation
	Comella S.A.	Ordinary		84.10	Spain

	The aggregate amount of capital and reserves and the results of these undertakings for the last relevant year were as follows:

Capital and							Profit (loss)
		Principal activity				reserves	for the year
£							£

	Comella S.A.	Hotel industry				2,776,139		29,909

	The results for the subsidiary undertaking Comella S.A. are taken from the accounts for the year ended 31 December 2013.

	The above figures represents amounts in Pounds Sterling converted from Euros being the original currency of both companies financial statements.


5	Debtors					2014		2013
£							£

	Prepayments					1,820		1,820
	Other debtors					122,865		125,153
						124,685		126,973


6	Creditors: amounts falling due within one year					2014		2013
£							£

	Corporation tax					-		1,636
	Accruals					6,779		3,600
	Other creditors					1,866,163		1,879,120
						1,872,942		1,884,356


7	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1,950,169		1,950,169		1,950,169


8	Profit and loss account					2014
£

	At 1 June 2013					(1,013,818)
	Loss for the year					(4,216)

	At 31 May 2014					(1,018,034)


9	Ultimate controlling party and related party transactions

	The director is aware of the identity of the ultimate controlling party. However, they are under a duty of confidentiality that prevents them from disclosing certain information otherwise required by Financial Reporting Standard 8. Therefore they have taken the exemption offered by the Standard in respect of confidentiality.


10	Immediate parent company

	The immediate parent company is Marigold Limited, a company registered in the Isle of Man (2012 - Marigold Limited). As at 31 May 2013 the balance leant from Plutoll Limited to Marigold Limited amounted to £20,276 (31 May 2012 the balance leant from Plutoll to Marigold Limited amounted to £17,728). This loan was interest free, unsecured and has no fixed repayment date.