| Plutoll Limited |
| Registered number: |
02501660 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 31 May 2015. |
|
| 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: |
|
|
B Bateson (appointed 11 February 2015) |
|
A J Gilfillan (resigned 11 February 2015) |
|
R Hazzard (appointed 15 February 2016) |
|
| 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 26 February 2016 and signed on its behalf. |
|
|
|
|
|
| B Bateson |
| Director |
|
| Plutoll Limited |
| Notes to the Accounts |
| for the year ended 31 May 2015 |
|
| 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 January 2015). |
|
|
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 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 |
2015 |
|
2014 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Loan interest receivable |
- |
|
572 |
|
Gain on foreign exchange |
16,833 |
|
6,081 |
|
|
|
|
|
|
16,833 |
|
6,653 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Interest payable and similar charges |
2015 |
|
2014 |
| £ |
£ |
|
|
Bank Interest payable |
41 |
|
- |
|
Loan interest receivable refunded |
896 |
|
- |
|
|
|
|
|
|
937 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 4 |
Taxation |
2015 |
|
2014 |
| £ |
£ |
|
|
UK corporation tax |
- |
|
(1,636) |
|
|
|
|
|
|
|
|
|
|
| 5 |
Investments |
| Investments in |
Loans to |
| subsidiary |
subsidiary |
| undertakings |
undertakings |
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 June 2014 |
2,666,444 |
|
12,722 |
|
2,679,166 |
|
Diminution in value of investments |
(629,850) |
|
- |
|
(629,850) |
|
Disposals |
(12,722) |
|
(12,722) |
|
At 31 May 2015 |
2,036,594 |
|
- |
|
2,036,594 |
|
|
|
|
|
|
|
|
|
|
The company holds 20% or more of the share capital of the following companies: |
|
| Capital and |
Profit (loss) |
|
Company |
Shares held |
reserves |
for the year |
|
|
Class |
% |
£ |
£ |
|
Comella S.A. |
Ordinary |
84.10 |
|
2,421,633 |
|
(35,691) |
|
|
|
|
|
|
|
|
|
|
|
Comella S.A. was incorporated in Spain and its principal activity was that of Hotel Industry. The above aggregate of capital and reserves and results relate the last relevant financial year ended 31 December 2014. |
|
|
| 6 |
Debtors |
2015 |
|
2014 |
| £ |
£ |
|
|
Prepayments |
|
|
|
|
1,830 |
|
1,820 |
|
Other debtors |
98,384 |
|
122,865 |
|
|
|
|
|
|
100,214 |
|
124,685 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due within one year |
2015 |
|
2014 |
| £ |
£ |
|
|
Accruals |
1,542 |
|
6,779 |
|
Other creditors |
1,825,025 |
|
1,866,163 |
|
|
|
|
|
|
1,826,567 |
|
1,872,942 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
1,950,169 |
|
1,950,169 |
|
1,950,169 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Profit and loss account |
2015 |
| £ |
|
|
At 1 June 2014 |
(1,018,034) |
|
Loss for the year |
(621,894) |
|
|
At 31 May 2015 |
(1,639,928) |
|
|
|
|
|
|
|
|
| 10 |
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. |
|
| 11 |
Immediate parent company |
|
|
The immediate parent company is Marigold Limited, a company registered in the Isle of Man (2014 - Marigold Limited). As at 31 May 2015 the balance leant from Plutoll Limited to Marigold Limited amounted to £ 22,840 (31 May 2014 the balance leant from Plutoll Limited to Marigold Limited amounted to £ 20,276). This loan was interest free, unsecured and has no fixed repayment date. |
