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REGISTERED NUMBER: 01788174 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PLOUGHCANE LIMITED

PLOUGHCANE LIMITED (REGISTERED NUMBER: 01788174)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PLOUGHCANE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr A C Panayi





SECRETARY: Mr A C Panayi





REGISTERED OFFICE: Andrew And Co
Certified Accountants
243 Caledonian Road
London
N1 1ED





REGISTERED NUMBER: 01788174 (England and Wales)





ACCOUNTANTS: AC Partners LLP
Chartered Accountants
869 High Road
London
N12 8QA

PLOUGHCANE LIMITED (REGISTERED NUMBER: 01788174)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 11,186,829 10,489,636

CURRENT ASSETS
Debtors 5 2,417 -
Cash at bank and in hand 1,529 1,485
3,946 1,485
CREDITORS
Amounts falling due within one year 6 212,833 129,752
NET CURRENT LIABILITIES (208,887 ) (128,267 )
TOTAL ASSETS LESS CURRENT LIABILITIES 10,977,942 10,361,369

CREDITORS
Amounts falling due after more than one year 7 (413,514 ) (413,387 )

PROVISIONS FOR LIABILITIES - (75,608 )
NET ASSETS 10,564,428 9,872,374

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 10,554,428 9,862,374
SHAREHOLDERS' FUNDS 10,564,428 9,872,374

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 1 March 2024 and were signed by:





Mr A C Panayi - Director


PLOUGHCANE LIMITED (REGISTERED NUMBER: 01788174)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Ploughcane 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.

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.

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

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.

FIXED ASSET INVESTMENTS
The investment represents interest in Ploughcane (UK) LLP.

SHARE OF PROFIT FROM LIMITED LIABILITY PARTNERSHIP
Share of profit receivable from interest in the LLP is recognised only when the profits are allocated by the LLP to the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 April 2022 10,489,636
Movement in equity capital 697,193
At 31 March 2023 11,186,829
NET BOOK VALUE
At 31 March 2023 11,186,829
At 31 March 2022 10,489,636

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,417 -

PLOUGHCANE LIMITED (REGISTERED NUMBER: 01788174)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 209,225 127,885
Other creditors 3,608 1,867
212,833 129,752

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 413,514 413,387

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director Mr A C Panayi, by virtue of his shareholding.