Plan Investments Limited - Accounts to registrar (filleted) - small 18.2
Plan Investments Limited - Accounts to registrar (filleted) - small 18.2
PLAN INVESTMENTS LIMITED |
Financial Statements |
for the Year Ended 31 December 2020 |
PLAN INVESTMENTS LIMITED (REGISTERED NUMBER: 04581281) |
Contents of the Financial Statements |
for the year ended 31 December 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PLAN INVESTMENTS LIMITED |
Company Information |
for the year ended 31 December 2020 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
PLAN INVESTMENTS LIMITED (REGISTERED NUMBER: 04581281) |
Balance Sheet |
31 December 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | 10 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings | 12 |
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. |
PLAN INVESTMENTS LIMITED (REGISTERED NUMBER: 04581281) |
Balance Sheet - continued |
31 December 2020 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PLAN INVESTMENTS LIMITED (REGISTERED NUMBER: 04581281) |
Notes to the Financial Statements |
for the year ended 31 December 2020 |
1. | Statutory information |
Plan Investments Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover comprises revenue recognised by the company in respect of rents receivable, exclusive of Value Added Tax and trade discount. Turnover is recognised on an accruals basis. |
Tangible fixed assets |
Office equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
(i) Financial assets |
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Such assets are subsequently carried at amortised cost using the effective interest method. |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans and loans from fellow affiliate companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
PLAN INVESTMENTS LIMITED (REGISTERED NUMBER: 04581281) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
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. |
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. |
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. |
3. | Employees and directors |
The average number of employees during the year was NIL (2019 - NIL). |
4. | Tangible fixed assets |
Office |
equipment |
£ |
Cost |
At 1 January 2020 |
and 31 December 2020 |
Depreciation |
At 1 January 2020 |
Charge for year |
At 31 December 2020 |
Net book value |
At 31 December 2020 |
At 31 December 2019 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 January 2020 |
and 31 December 2020 |
Net book value |
At 31 December 2020 |
At 31 December 2019 |
Fair value at 31 December 2020 is represented by: |
£ |
Valuation in 2011 | 108,000 |
Valuation in 2013 | 455,669 |
Valuation in 2014 | 370,000 |
Valuation in 2018 | 775,000 |
Cost | 2,996,331 |
4,705,000 |
PLAN INVESTMENTS LIMITED (REGISTERED NUMBER: 04581281) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
6. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade debtors |
Other debtors |
7. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Bank loans |
Trade creditors |
Tax |
Other creditors |
Accruals and deferred income |
8. | Creditors: amounts falling due after more than one year |
2020 | 2019 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
5 years by instalments | 196,215 | 249,443 |
5 years by non-instalments | 1,161,304 | 1,157,714 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
5 years by non-instalments |
Repayable by instalments |
5 years by instalments | 196,215 | 249,443 |
9. | Secured debts |
The mortgages are secured against the properties to which they relate. |
A guarantee and debenture to Barclays Bank plc have been granted, on behalf of Plan Investments Limited, by companies under common control in order to facilitate the purchase of freehold properties. |
10. | Provisions for liabilities |
2020 | 2019 |
£ | £ |
Deferred tax |
Accelerated capital allowances | ( |
) | ( |
) |
Other timing differences | 311,145 | 311,801 |
310,921 | 311,145 |
PLAN INVESTMENTS LIMITED (REGISTERED NUMBER: 04581281) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2020 |
10. | Provisions for liabilities - continued |
Deferred tax |
£ |
Balance at 1 January 2020 |
Utilised during year | ( |
) |
Balance at 31 December 2020 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
12. | Reserves |
Retained |
earnings |
£ |
At 1 January 2020 |
Deficit for the year | ( |
) |
At 31 December 2020 |
At the year end £1,561,419 (2019: £1,561,419) of the total retained earnings are non-distributable, relating to fair value movements on investment property valuations. |
13. | Related party disclosures |
Included in creditors is an amount of £913,630 (2019: £812,567) owed to companies under common control. |