Plain Investing Ltd 12656244 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Security dealing on own account Digita Accounts Production Advanced 6.30.9574.0 true 12656244 2022-04-01 2023-03-31 12656244 2023-03-31 12656244 core:OtherReservesSubtotal 2023-03-31 12656244 core:RetainedEarningsAccumulatedLosses 2023-03-31 12656244 core:ShareCapital 2023-03-31 12656244 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-03-31 12656244 core:CurrentFinancialInstruments 2023-03-31 12656244 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12656244 core:FurnitureFittingsToolsEquipment 2023-03-31 12656244 core:MotorVehicles 2023-03-31 12656244 bus:SmallEntities 2022-04-01 2023-03-31 12656244 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 12656244 bus:FullAccounts 2022-04-01 2023-03-31 12656244 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 12656244 bus:RegisteredOffice 2022-04-01 2023-03-31 12656244 bus:Director2 2022-04-01 2023-03-31 12656244 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12656244 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 12656244 core:MotorVehicles 2022-04-01 2023-03-31 12656244 countries:England 2022-04-01 2023-03-31 12656244 2021-07-01 2022-03-31 12656244 2022-03-31 12656244 core:OtherReservesSubtotal 2022-03-31 12656244 core:RetainedEarningsAccumulatedLosses 2022-03-31 12656244 core:ShareCapital 2022-03-31 12656244 core:CurrentFinancialInstruments 2022-03-31 12656244 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 12656244

Plain Investing Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Plain Investing Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Plain Investing Ltd

(Registration number: 12656244)
Balance Sheet as at 31 March 2023

Note

31 March
2023
£

31 March
2022
£

Fixed assets

 

Tangible assets

4

55,406

-

Other financial assets

5

845,036

271,715

 

900,442

271,715

Current assets

 

Debtors

6

16,128

2,742

Cash at bank and in hand

 

125,398

117,993

 

141,526

120,735

Creditors: Amounts falling due within one year

7

(907,194)

(310,442)

Net current liabilities

 

(765,668)

(189,707)

Total assets less current liabilities

 

134,774

82,008

Provisions for liabilities

(19,771)

(15,602)

Net assets

 

115,003

66,406

Capital and reserves

 

Called up share capital

100

100

Other reserves

127,816

78,769

Retained earnings

(12,913)

(12,463)

Shareholders' funds

 

115,003

66,406

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Plain Investing Ltd

(Registration number: 12656244)
Balance Sheet as at 31 March 2023

Approved and authorised by the Board on 21 November 2023 and signed on its behalf by:
 

.........................................
Mr C R Milton
Director

 

Plain Investing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Croft Farm
Plough Lane
Marston
Devizes
Wiltshire
SN10 5SR

These financial statements were authorised for issue by the Board on 21 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Plain Investing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investments

Investments are included at fair value. Gains are recognised in profit or loss and transferred to the non-distributable reserve. Deferred taxation is provided on these gains at the rate expected to apply when the investment is sold.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 0).

 

Plain Investing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

4,033

53,450

57,483

At 31 March 2023

4,033

53,450

57,483

Depreciation

Charge for the year

295

1,782

2,077

At 31 March 2023

295

1,782

2,077

Carrying amount

At 31 March 2023

3,738

51,668

55,406

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2022

271,715

271,715

Additions

683,492

683,492

Revaluations

53,682

53,682

Disposals

(163,853)

(163,853)

At 31 March 2023

845,036

845,036

Carrying amount

At 31 March 2023

845,036

845,036

The investments are included at the valuation provided by the Limited Partnership at a value of £228,953 (2022: £271,715). The initial investment was £125,321 (2022: £190,079) and has been revalued by £38,949 (2022: £63,236). The revaluation has been reduced to £38,409 due to expenses attributable to Plain Investing Limited during the year.

Other investments are included at the valuation provided by the investment broker at a value of £616,083. The initial investment was £600,809 and it has been revalued by £15,274.

 

Plain Investing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

Current

31 March
2023
£

31 March
2022
£

Other debtors

16,128

2,742

7

Creditors

Creditors: amounts falling due within one year

Note

31 March
2023
£

31 March
2022
£

Due within one year

 

Loans and borrowings

8

907,194

309,206

Accruals and deferred income

 

-

1,236

 

907,194

310,442

8

Loans and borrowings

31 March
2023
£

31 March
2022
£

Current loans and borrowings

Other borrowings

907,194

309,206

9

Profit and loss account

31 March
2023
£

31 March
2022
£

Distributable reserves

(12,913)

(12,463)

Non-distributable reserves

127,816

78,769

114,903

66,306