Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-09-01falseNo description of principal activity33truetrue 01964716 2022-09-01 2023-08-31 01964716 2021-09-01 2022-08-31 01964716 2023-08-31 01964716 2022-08-31 01964716 c:Director1 2022-09-01 2023-08-31 01964716 d:FurnitureFittings 2022-09-01 2023-08-31 01964716 d:FurnitureFittings 2023-08-31 01964716 d:FurnitureFittings 2022-08-31 01964716 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 01964716 d:FreeholdInvestmentProperty 2022-09-01 2023-08-31 01964716 d:FreeholdInvestmentProperty 2023-08-31 01964716 d:FreeholdInvestmentProperty 2022-08-31 01964716 d:FreeholdInvestmentProperty 2 2022-09-01 2023-08-31 01964716 d:CurrentFinancialInstruments 2023-08-31 01964716 d:CurrentFinancialInstruments 2022-08-31 01964716 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 01964716 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 01964716 d:ShareCapital 2023-08-31 01964716 d:ShareCapital 2022-08-31 01964716 d:SharePremium 2023-08-31 01964716 d:SharePremium 2022-08-31 01964716 d:RetainedEarningsAccumulatedLosses 2023-08-31 01964716 d:RetainedEarningsAccumulatedLosses 2022-08-31 01964716 c:FRS102 2022-09-01 2023-08-31 01964716 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 01964716 c:FullAccounts 2022-09-01 2023-08-31 01964716 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 01964716 d:OtherDeferredTax 2023-08-31 01964716 d:OtherDeferredTax 2022-08-31 iso4217:GBP xbrli:pure

Registered number: 01964716









PLIMTO PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
PLIMTO PROPERTIES LIMITED
REGISTERED NUMBER: 01964716

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,274
4,093

Investment property
 5 
9,055,000
9,055,000

  
9,058,274
9,059,093

Current assets
  

Debtors: amounts falling due within one year
 6 
1,111,913
1,051,170

Cash at bank and in hand
 7 
1,901,947
1,707,375

  
3,013,860
2,758,545

Creditors: amounts falling due within one year
 8 
(161,362)
(119,236)

Net current assets
  
 
 
2,852,498
 
 
2,639,309

Total assets less current liabilities
  
11,910,772
11,698,402

Provisions for liabilities
  

Deferred tax
 9 
(817,097)
(817,097)

  
 
 
(817,097)
 
 
(817,097)

Net assets
  
11,093,675
10,881,305


Capital and reserves
  

Called up share capital 
  
1,070
1,070

Share premium account
  
1,087,430
1,087,430

Profit and loss account
  
10,005,175
9,792,805

  
11,093,675
10,881,305


Page 1

 
PLIMTO PROPERTIES LIMITED
REGISTERED NUMBER: 01964716
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Shamash
Director

Date: 12 February 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PLIMTO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Plimto Properties Limited is a limited company incorporated in the United Kingdom. The registered office is Ground Floor, 45 Pall Mall, London, SW1Y 5JG.
The principal activity of the company continued to be that of property investment.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Revenue

Rental income represents rent receivable from investment properties.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
PLIMTO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
on written down value

 
2.5

Investment properties

Investment properties are included in the balance sheet at their open market value. No depreciation
is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
PLIMTO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 September 2022
36,438



At 31 August 2023

36,438



Depreciation


At 1 September 2022
32,345


Charge for the year on owned assets
819



At 31 August 2023

33,164



Net book value



At 31 August 2023
3,274



At 31 August 2022
4,093

Page 5

 
PLIMTO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Investment properties


Freehold investment properties

£



Valuation


At 1 September 2022
9,055,000


Additions at cost
13,005


Surplus on revaluation
(13,005)



At 31 August 2023
9,055,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
2,498,574
2,498,574

2,498,574
2,498,574

Page 6

 
PLIMTO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


6.


Debtors

2023
2022
£
£


Trade debtors
80,174
8,792

Amounts owed by group undertakings
1,720
1,720

Other debtors
1,026,751
1,025,651

Prepayments and accrued income
3,268
15,007

1,111,913
1,051,170



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,901,947
1,707,375

1,901,947
1,707,375



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
81,218
62,350

Other creditors
65,144
41,886

Accruals and deferred income
15,000
15,000

161,362
119,236


Page 7

 
PLIMTO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


9.


Deferred taxation




2023


£






At beginning of year
(817,097)



At end of year
(817,097)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment properties
(817,097)
(817,097)

(817,097)
(817,097)


10.


Related party transactions

Included in debtors is an amount of £22,650 (2022: £22,406) owing by Jimsham London Limited, a company of which J Shamash and E Shamash are directors.
Included in debtors is an amount of £978,653 
(2022: £978,653) owing by Chiltern W1 Limited, a company of which E Shamash is a director.


11.


Controlling party

Plimto Properties Limited is a subsidiary of Devonshire Holdings Limited, a company incorporated in England and Wales.
As at the balance sheet date, the ultimate controlling company is Devonshire Holdings Limited.

 
Page 8