Plantdrive Limited,Ltd - Accounts

PLANTDRIVE LIMITED - Company Information

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Plantdrive Limited

For the period ended 29 February 2016

Unaudited Abbreviated Report and Financial Statements

England and Wales

Registered Number: 04382548

Plantdrive Limited

Chartered Accountants' Report

For the period ended 29 February 2016

Chartered Accountants' Report to the Board of Directors

In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the

accounts of Plantdrive Limited for the period ended 29 February 2016 which comprise the Profit and Loss Account,

the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its

ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Plantdrive Limited, as a body, in accordance with the terms

of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of

Plantdrive Limited and state those matters that we have agreed to state to the Board of Directors of Plantdrive

Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest

extent permitted by law, we do not accept or assume responsibility to anyone other than Plantdrive Limited and its

Board of Directors as a body for our work or for this report.

It is your duty to ensure that Plantdrive Limited has kept adequate accounting records to prepare statutory accounts

that give a true and fair view of the assets, liabilities, financial position and profit of Plantdrive Limited. You consider

that Plantdrive Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Plantdrive Limited. For this reason,

we have not verified the accuracy or completeness of the accounting records or information and explanations you

have given to us and we do not, therefore, express any opinion on the statutory accounts.

Highview Accountancy Ltd

Chartered Accountants

AC House, 3 Preston Parade

Whitstable

Kent

CT5 4AA

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Abbreviated Balance Sheet

Plantdrive Limited

As at 29 February 2016

04382548

Registered Number :

2016

Notes

2015

Fixed assets

Tangible assets

3,675,396

4,000,330

3,675,396

4,000,330

Current assets

Stocks

323,000

Debtors

20,449

15,171

Cash at bank and in hand

112,862

115,613

451,033

136,062

Creditors: amounts falling due within one year

(240,586)

(1,675,488)

(104,524)

(1,224,455)

Net current liabilities

Total assets less current liabilities

2,450,941

3,895,806

Creditors: amounts falling due after more than one year

(1,533,333)

2,450,941

Net assets

2,362,473

Capital and reserves

Called up share capital

Revaluation reserve

1,413,393

Profit and loss account

1,037,544

949,076

2,450,941

2,362,473

Shareholders funds

For the period ended 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476;

2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Date approved by the board: 30 June 2016

Brian C. Oakley Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

Plantdrive Limited

For the period ended 29 February 2016

1 Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents rents receivable.

Tangible fixed assets

Tangible fixed assets, 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.

Land and buildings were valued on 29th May 2-014 by Arnold Keys LLP on an open market basis.

Investment properties

Investment properties are included in the balance sheet at their open market value at the balance sheet date. The

resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those

investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective

January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be

depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to

give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation

and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Stocks

Stock represents Units that are due to be sold.Stocks 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.

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Notes to the Abbreviated Financial Statements

Plantdrive Limited

For the period ended 29 February 2016

2 Tangible fixed assets

Tangible fixed

assets

Cost or valuation

4,017,853

At 01 March 2015

Transferred

(323,000)

At 29 February 2016

3,694,853

Depreciation

17,523

At 01 March 2015

1,934

Charge for period

19,457

At 29 February 2016

Net book values

At 29 February 2016

3,675,396

4,000,330

At 28 February 2015

2016

3 Creditors: amounts falling due within one year

2015

1,601,003

175,000

Bank loans and overdrafts (secured)

2015

2016

4 Creditors due after more than one year

1,533,333

Bank loans and overdrafts (secured)

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