Registration number:
Plain Investing Ltd
for the Year Ended 31 March 2023
Plain Investing Ltd
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Plain Investing Ltd
(Registration number: 12656244)
Balance Sheet as at 31 March 2023
Note |
31 March |
31 March |
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Fixed assets |
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Tangible assets |
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- |
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Other financial assets |
845,036 |
271,715 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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Retained earnings |
( |
( |
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Shareholders' funds |
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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:
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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 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
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Plain Investing Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Plain Investing Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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Additions |
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At 31 March 2023 |
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Depreciation |
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Charge for the year |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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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 |
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At 31 March 2023 |
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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
Debtors |
Current |
31 March |
31 March |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
31 March |
31 March |
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Due within one year |
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Loans and borrowings |
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Accruals and deferred income |
- |
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Loans and borrowings |
31 March |
31 March |
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Current loans and borrowings |
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Other borrowings |
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Profit and loss account |
31 March |
31 March |
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Distributable reserves |
(12,913) |
(12,463) |
Non-distributable reserves |
127,816 |
78,769 |
114,903 |
66,306 |