Plantdrive Limited,Ltd - AccountsLtd - Accounts

PLANTDRIVE LIMITED - Company Information

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Plantdrive Limited

Registered Number:04382548

For the year ended 31 March 2023

England and Wales

Unaudited Financial Statements

Registered Number :

04382548

As at 31 March 2023

Plantdrive Limited

Statement of Financial Position

2022

2023

Notes

Fixed assets

3,500,000

3,234,000

Investment property

Financial assets

765,000

4,265,000

3,999,000

Current assets

Trade and other receivables

34,053

15,227

127,968

Cash and cash equivalents

177,896

193,123

162,021

Trade and other payables: amounts falling due within one

year

(105,807)

(155,934)

56,214

37,189

Net current assets

Total assets less current liabilities

4,302,189

4,055,214

Trade and other payables: amounts falling due after more

than one year

(872,266)

(790,160)

3,512,029

Net assets

3,182,948

Capital and reserves

Called up share capital

Fair value reserve

2,216,991

1,630,528

Retained earnings

1,295,038

1,552,416

3,512,029

3,182,948

Shareholders' funds

For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006

The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Andrew Oakley Director

These financial statements were approved and authorised for issue by the Board on 13 July 2023 and were signed by:

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Registered Number :

04382548

For the year ended 31 March 2023

Plantdrive Limited

Statement of Financial Position Continued

The notes form part of these financial statements

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For the year ended 31 March 2023

Plantdrive Limited

Notes to the Financial Statements

Statutory Information

Plantdrive Limited is a private limited company, limited by shares, domiciled in England and Wales, registration

number 04382548.

Registered address:

3 Preston Parade

Whitstable

Kent

CT5 4AA

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover represents rents receivable.

Property, plant and equipment

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and machinery

25% Reducing balance

No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected

useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation

would be immaterial. The directors undertake an annual impairment review of these properties.

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. The original costs were £1,513,607.

Inventories

Property is transfered into Stocks when they are put up for sale and are valued at the lower of cost and net realisable value. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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For the year ended 31 March 2023

Plantdrive Limited

Notes to the Financial Statements Continued

2. Investment property

Total

Fair value

At 01 April 2022

3,234,000

Fair value adjustments

266,000

At 31 March 2023

3,500,000

Net book value

At 31 March 2023

3,500,000

At 31 March 2022

3,234,000

3. Investments held as fixed assets

Shares in group and participating interests

Total

At 01 April 2022

765,000

Cost

At 31 March 2023

765,000

At 31 March 2023

Net book value

765,000

At 01 April 2022

765,000

4. Trade and other receivables

2022

2023

Trade debtors

9,515

84,676

Amounts owed by group undertakings and participating interests

40,712

(19,046)

Other debtors

(35,000)

(31,577)

34,053

15,227

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For the year ended 31 March 2023

Plantdrive Limited

Notes to the Financial Statements Continued

5. Trade and other payables: amounts falling due within one year

2022

2023

Bank loans and overdraft (secured)

46,596

36,000

Bank loans and overdraft

31,667

6,000

Trade creditors

7,709

7,076

Taxation and social security

47,080

35,099

Other creditors

22,882

21,632

155,934

105,807

6. Trade and other payables: amounts falling due after more than one year

2022

2023

Bank loans and overdraft

35,510

Bank loans and overdraft (secured)

790,160

836,756

790,160

872,266

7. Average number of persons employed

During the year the average number of employees was 1 (2022 : 1)

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