IRIS Accounts Production v23.3.0.418 09648620 director 1.7.22 30.6.23 30.6.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh096486202022-06-30096486202023-06-30096486202022-07-012023-06-30096486202021-06-30096486202021-07-012022-06-30096486202022-06-3009648620ns10:Originalns15:EnglandWales2022-07-012023-06-3009648620ns14:PoundSterlingns10:Original2022-07-012023-06-3009648620ns10:Originalns10:Director12022-07-012023-06-3009648620ns10:Original2022-07-012023-06-3009648620ns10:Original2023-06-3009648620ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3009648620ns10:Originalns10:SmallEntities2022-07-012023-06-3009648620ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3009648620ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3009648620ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3009648620ns10:Originalns10:FullAccounts2022-07-012023-06-3009648620ns10:Originalns10:RegisteredOffice2022-07-012023-06-3009648620ns10:Original2022-06-3009648620ns10:Originalns5:CurrentFinancialInstruments2023-06-3009648620ns10:Originalns5:CurrentFinancialInstruments2022-06-3009648620ns10:Originalns5:Non-currentFinancialInstruments2023-06-3009648620ns10:Originalns5:Non-currentFinancialInstruments2022-06-3009648620ns5:ShareCapitalns10:Original2023-06-3009648620ns5:ShareCapitalns10:Original2022-06-3009648620ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3009648620ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3009648620ns10:Original2021-07-012022-06-3009648620ns10:Originalns5:LandBuildings2022-06-3009648620ns10:Originalns5:PlantMachinery2022-06-3009648620ns10:Original2022-06-3009648620ns10:Originalns5:LandBuildings2022-07-012023-06-3009648620ns10:Originalns5:PlantMachinery2022-07-012023-06-3009648620ns10:Originalns5:LandBuildings2023-06-3009648620ns10:Originalns5:PlantMachinery2023-06-3009648620ns10:Originalns5:LandBuildings2022-06-3009648620ns10:Originalns5:PlantMachinery2022-06-3009648620ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3009648620ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3009648620ns5:Securedns10:Original2023-06-3009648620ns5:Securedns10:Original2022-06-30
REGISTERED NUMBER: 09648620 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

The Plough Inn Freehold Limited

The Plough Inn Freehold Limited (Registered number: 09648620)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Plough Inn Freehold Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: M S Eshelby





REGISTERED OFFICE: Latchmere House
64 South Street
Dorking
Surrey
RH4 2HD





REGISTERED NUMBER: 09648620 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

The Plough Inn Freehold Limited (Registered number: 09648620)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,547,556
Investment property 5 1,547,556 -
1,547,556 1,547,556

CURRENT ASSETS
Debtors 6 65,090 52,504
Cash at bank 49,366 45,293
114,456 97,797
CREDITORS
Amounts falling due within one year 7 1,323,484 1,286,780
NET CURRENT LIABILITIES (1,209,028 ) (1,188,983 )
TOTAL ASSETS LESS CURRENT LIABILITIES 338,528 358,573

CREDITORS
Amounts falling due after more than one
year

8

408,235

453,148
NET LIABILITIES (69,707 ) (94,575 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (69,708 ) (94,576 )
(69,707 ) (94,575 )

The Plough Inn Freehold Limited (Registered number: 09648620)

Balance Sheet - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

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

The financial statements were approved by the director and authorised for issue on 7 November 2023 and were signed by:





M S Eshelby - Director


The Plough Inn Freehold Limited (Registered number: 09648620)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

The Plough Inn Freehold Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There have been no material departures from the Financial Reporting Standard 102 1A.

Changes in accounting policies
As at 1 July 2022, the company transitioned from Financial Reporting Standard 105 to Financial Reporting Standard 102 Section 1A. Due to this transition, there have been changes to the recognition of balances within the financial statements to comply with these reporting standards. All comparative amounts relating to the year ended 30 June 2022 have also been restated under the Financial Reporting Standard 102 Section 1A.

As at 1 July 2022, the Freehold property previously recognised under Financial Reporting Standard 105 at cost less accumulated depreciation is now recognised as Investment property held at fair value under Financial Reporting Standard 102 Section 1A. Also, under Financial Reporting Standard 102 Section 1A, deferred tax is now recognised.

Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% straight line

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 Plough Inn Freehold Limited (Registered number: 09648620)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

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 1 (2022 - 1 ) .

The Plough Inn Freehold Limited (Registered number: 09648620)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 July 2022 1,761,916 7,500 1,769,416
Reclassification/transfer (1,761,916 ) - (1,761,916 )
At 30 June 2023 - 7,500 7,500
DEPRECIATION
At 1 July 2022 214,360 7,500 221,860
Reclassification/transfer (214,360 ) - (214,360 )
At 30 June 2023 - 7,500 7,500
NET BOOK VALUE
At 30 June 2023 - - -
At 30 June 2022 1,547,556 - 1,547,556

Due to the transition from Financial Reporting Standard 105 to Financial Reporting Standard 102 Section 1A, the Freehold property has been reclassified and is now recognised as an Investment property at fair value.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Reclassification/transfer 1,547,556
At 30 June 2023 1,547,556
NET BOOK VALUE
At 30 June 2023 1,547,556

The director has valued the investment property by assessing the expected market value as at 1 July 2022 following the transition from Financial Reporting Standard 105 to Financial Reporting Standard 102 Section 1A. There have been no material changes to this value during the year ended 30 June 2023.

The Plough Inn Freehold Limited (Registered number: 09648620)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors - 275
Deferred tax asset 53,590 40,729
Prepayments and accrued income 11,500 11,500
65,090 52,504

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 47,673 12,884
Trade creditors 1,838 -
Taxation and social security 5,170 6,665
Other creditors 1,268,803 1,267,231
1,323,484 1,286,780

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 408,235 453,148

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 455,908 466,032

At 30 June 2023, the company had secured borrowings falling due within one year of £47,673 (2022 - £12,884) and amounts falling due in more than one year of £408,235 (2022 - £453,148).

Bank loans are secured by a fixed charge against the assets to which they relate.

The Plough Inn Freehold Limited (Registered number: 09648620)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

10. RELATED PARTY DISCLOSURES

Amounts owed to shareholders


30.6.23 30.6.22
£ £
Brought forward 1,264,619 1,264,619
Advances - -
Repayments - -
Carried forward 1,264,619 1,264,619

Amounts owed to related parties are interest free and repayable on demand.