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Plumer Management Limited
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Accountants' Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Plumer Management Limited For The Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Plumer Management Limited For The Year Ended 31 December 2023 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Plumer Management Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Plumer Management Limited and state those matters that we have agreed to state to the directors of Plumer Management Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Plumer Management Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Plumer Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Plumer Management Limited . You consider that Plumer Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Plumer Management Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
12 April 2024
Cooper Adams Ltd
Chartered Accountants
12 Payton Street
Stratford upon Avon
Warwickshire
CV37 6UA
Page 1
Page 2
Statement of Financial Position
Registered number: 00822333
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 2,302,237 2,700,686
Investments 5 315,350 304,276
2,617,587 3,004,962
CURRENT ASSETS
Debtors 1,100 4,850
Cash at bank and in hand 400,147 384,475
401,247 389,325
Creditors: Amounts Falling Due Within One Year (16,375 ) (17,721 )
NET CURRENT ASSETS (LIABILITIES) 384,872 371,604
TOTAL ASSETS LESS CURRENT LIABILITIES 3,002,459 3,376,566
PROVISIONS FOR LIABILITIES
Deferred taxation (405,748 ) (454,446 )
NET ASSETS 2,596,711 2,922,120
CAPITAL AND RESERVES
Called up share capital 6 100 100
Income Statement 2,596,611 2,922,020
SHAREHOLDERS' FUNDS 2,596,711 2,922,120
Page 2
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Thomas Swan
Director
12 April 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Plumer Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00822333 . The registered office is 100 Linkside Avenue , Oxford, Oxfordshire, OX2 8JB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & fittings 20% straight line
Computer equipment 20% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Tangible assets
Investment properties Fixtures & fittings Computer equipment Total
£ £ £ £
Cost or Valuation
As at 1 January 2023 2,697,565 2,295 4,799 2,704,659
Additions - 215 3,163 3,378
Revaluation (400,000) - - (400,000 )
As at 31 December 2023 2,297,565 2,510 7,962 2,308,037
Depreciation
As at 1 January 2023 - 459 3,514 3,973
Provided during the period - 502 1,325 1,827
As at 31 December 2023 - 961 4,839 5,800
Net Book Value
As at 31 December 2023 2,297,565 1,549 3,123 2,302,237
As at 1 January 2023 2,697,565 1,836 1,285 2,700,686
Cost or valuation as at 31 December 2023 represented by:
Investment properties Fixtures & fittings Computer equipment Total
£ £ £ £
At cost 471,728 2,510 7,962 482,200
At valuation 1,825,837 - - 1,825,837
2,297,565 2,510 7,962 2,308,037
5. Investments
Listed
£
Cost
As at 1 January 2023 304,276
Additions 6,558
Disposals (1,579 )
Revaluations 6,095
As at 31 December 2023 315,350
...CONTINUED
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Page 6
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 315,350
As at 1 January 2023 304,276
Historical cost of investments at year end was £318,773 (2022: £313,794).
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
2023:1,000 shares at £0.10 each (2022:100 shares at £1 each)
7. Reserves
The profit and loss account includes £1,421,336 (2022: £1,764,993) of undistributable reserves resulting from the revaluation of investment properties and listed investments.
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