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Plantdrive Limited
Registered Number:04382548
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
Registered Number :
04382548
As at 31 March 2024
Plantdrive Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
2
3,605,000
3,500,000
Investment property
Financial assets
765,000
765,000
3
4,370,000
4,265,000
Current assets
Trade and other receivables
15,227
28,140
4
177,896
Cash and cash equivalents
197,690
225,830
193,123
Trade and other payables: amounts falling due within one
year
(155,934)
(151,284)
5
37,189
74,546
Net current assets
Total assets less current liabilities
4,444,546
4,302,189
Trade and other payables: amounts falling due after more
than one year
(682,175)
(677,681)
6
3,766,865
Net assets
3,620,014
Capital and reserves
Called up share capital
4
-
Fair value reserve
2,329,866
2,216,757
Retained earnings
1,436,995
1,403,257
3,766,865
3,620,014
Shareholders' funds
For the year ended 31 March 2024 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 of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Andrew Oakley Director
These financial statements were approved and authorised for issue by the Board on 25 June 2024 and were signed by:
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3
Registered Number :
04382548
For the year ended 31 March 2024
Plantdrive Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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4
For the year ended 31 March 2024
Plantdrive Limited
Notes to the Financial Statements
Statutory Information
Plantdrive Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 04382548.
Registered address:
3 Preston Parade
Whitstable
Kent
CT5 4AA
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover represents rents receivable.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Reducing balance
No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
would be immaterial. The directors undertake an annual impairment review of these properties.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. The original costs were £1,513,607.
Inventories
Property is transfered into Stocks when they are put up for sale and are valued at the lower of cost and net realisable value. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
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5
For the year ended 31 March 2024
Plantdrive Limited
Notes to the Financial Statements Continued
2. Investment property
Total
£
Fair value
At 01 April 2023
3,500,000
Fair value adjustments
105,000
At 31 March 2024
3,605,000
Net book value
At 31 March 2024
3,605,000
At 31 March 2023
3,500,000
3. Investments held as fixed assets
Shares in group and participating interests
Total
At 01 April 2023
765,000
765,000
Cost
£
£
At 31 March 2024
765,000
765,000
At 31 March 2024
Net book value
765,000
765,000
At 01 April 2023
765,000
765,000
4. Trade and other receivables
2023
2024
£
£
Trade debtors
13,478
9,515
Amounts owed by group undertakings and participating interests
49,662
40,712
Other debtors
(35,000)
(35,000)
15,227
28,140
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For the year ended 31 March 2024
Plantdrive Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft (secured)
60,056
46,596
Bank loans and overdraft
7,371
31,667
Trade creditors
6,134
7,709
Taxation and social security
54,091
47,080
Other creditors
23,632
22,882
151,284
155,934
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
13,681
-
Bank loans and overdraft (secured)
664,000
682,175
677,681
682,175
7. Average number of persons employed
During the year the average number of employees was 0 (2023 : 1)
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