Plough Properties Limited Filleted accounts for Companies House (small and micro)
Plough Properties Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
00755832
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Investments |
6 |
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Current assets
Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Called up share capital |
10 |
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Share premium account |
11 |
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Revaluation reserve |
11 |
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Profit and loss account |
11 |
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Shareholders funds |
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Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
10 April 2024
, and are signed on behalf of the board by:
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Director |
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Company registration number:
00755832
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Notes to the Financial Statements |
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Castle Business Village, Station Road, Hampton, Middlesex, TW12 2BX.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Disclosure exemptions
No cash flow statement has been presented for the company.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Income tax
Tangible assets
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4.
Employees
The average number of persons employed by the company during the year amounted to
3
(2022:
3
).
5.
Tangible assets
Freehold property |
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£ |
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Valuation |
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At 1 January 2023 and 31 December 2023 |
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Depreciation |
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At 1 January 2023 and 31 December 2023 |
– |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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6.
Investments
Other investments other than loans |
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£ |
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Cost |
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At 1 January 2023 and 31 December 2023 |
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Impairment |
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At 1 January 2023 and 31 December 2023 |
– |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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£62,500 relates to an unlisted investment in Platinum One Hotels Limited. This has been valued by the directors.
7.
Debtors
2023 |
2022 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
2023 |
2022 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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9.
Deferred tax
There is no deferred tax liability in respect of the revaluation of investment property due to indexation relief.
10.
Called up share capital
Issued, called up and fully paid
2023 |
2022 |
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No. |
£ |
No. |
£ |
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64,287 |
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64,287 |
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11.
Reserves
Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Profit and loss account - This reserve records retained earnings and accumulated losses.
12.
Related party transactions
One of the directors has an interest in Platinum One Hotels Limited, a company in which their partner is a director and a shareholder.
Plough Properties Limited
has made an investment of £125,000 in Platinum One Hotels Limited. During the year, dividends amounting to £225,004 (2022: £147,218) were paid. The directors each received dividends of £75,002 (2022: £49,073).