IRIS Accounts Production v24.2.0.383 02385944 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh023859442023-06-30023859442024-06-30023859442023-07-012024-06-30023859442022-06-30023859442022-07-012023-06-30023859442023-06-3002385944ns15:EnglandWales2023-07-012024-06-3002385944ns14:PoundSterling2023-07-012024-06-3002385944ns10:Director12023-07-012024-06-3002385944ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3002385944ns10:SmallEntities2023-07-012024-06-3002385944ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3002385944ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3002385944ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3002385944ns10:FullAccounts2023-07-012024-06-3002385944ns10:Director22023-07-012024-06-3002385944ns10:Director32023-07-012024-06-3002385944ns10:CompanySecretary12023-07-012024-06-3002385944ns10:RegisteredOffice2023-07-012024-06-3002385944ns5:CurrentFinancialInstruments2024-06-3002385944ns5:CurrentFinancialInstruments2023-06-3002385944ns5:ShareCapital2024-06-3002385944ns5:ShareCapital2023-06-3002385944ns5:RevaluationReserve2024-06-3002385944ns5:RevaluationReserve2023-06-3002385944ns5:RetainedEarningsAccumulatedLosses2024-06-3002385944ns5:RetainedEarningsAccumulatedLosses2023-06-3002385944ns5:MotorVehicles2023-07-012024-06-3002385944ns5:ComputerEquipment2023-07-012024-06-3002385944ns5:MotorVehicles2023-06-3002385944ns5:ComputerEquipment2023-06-3002385944ns5:MotorVehicles2024-06-3002385944ns5:ComputerEquipment2024-06-3002385944ns5:MotorVehicles2023-06-3002385944ns5:ComputerEquipment2023-06-3002385944ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3002385944ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3002385944ns5:RetainedEarningsAccumulatedLosses2023-06-3002385944ns5:RevaluationReserve2023-06-3002385944ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-30
REGISTERED NUMBER: 02385944 (England and Wales)



















Financial Statements

for the Year Ended 30 June 2024

for

Plus Property Limited

Plus Property Limited (Registered number: 02385944)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Plus Property Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: B A Humphries
Miss P J Boothroyd
Mrs K E Green





SECRETARY: Miss P J Boothroyd





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





REGISTERED NUMBER: 02385944 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Plus Property Limited (Registered number: 02385944)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,486 34,382
Investment property 5 2,460,349 2,460,349
2,486,835 2,494,731

CURRENT ASSETS
Debtors 6 8,666 10,227
Investments 7 352,000 465,000
Cash at bank 218,172 82,989
578,838 558,216
CREDITORS
Amounts falling due within one year 8 516,253 504,438
NET CURRENT ASSETS 62,585 53,778
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,549,420

2,548,509

PROVISIONS FOR LIABILITIES 23,000 38,950
NET ASSETS 2,526,420 2,509,559

CAPITAL AND RESERVES
Called up share capital 200,000 200,000
Fair value reserve 9 172,842 269,892
Retained earnings 9 2,153,578 2,039,667
SHAREHOLDERS' FUNDS 2,526,420 2,509,559

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Plus Property Limited (Registered number: 02385944)

Balance Sheet - continued
30 June 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:





B A Humphries - Director


Plus Property Limited (Registered number: 02385944)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Plus Property 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents property rentals receivable excluding value added tax. Turnover is recognised when rentals are due in accordance with lease terms.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Investment property
Investment property is not depreciated but is revalued annually at its fair value, in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and is transferred to a fair value reserve.

Deferred tax
Deferred taxation is recognised in respect of all material timing differences, including provisions made for potential tax arising on assets which have been revalued.

Current asset investments
Current asset investments are measured at fair value at the balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and subsequently transferred to a fair value reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Plus Property Limited (Registered number: 02385944)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 74,756 - 74,756
Additions - 1,050 1,050
At 30 June 2024 74,756 1,050 75,806
DEPRECIATION
At 1 July 2023 40,374 - 40,374
Charge for year 8,596 350 8,946
At 30 June 2024 48,970 350 49,320
NET BOOK VALUE
At 30 June 2024 25,786 700 26,486
At 30 June 2023 34,382 - 34,382

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 2,460,349
NET BOOK VALUE
At 30 June 2024 2,460,349
At 30 June 2023 2,460,349

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 2,460,349

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,356,507 2,356,507
Aggregate depreciation (680,640 ) (633,510 )

Investment property was valued on a fair value basis on 30 June 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,134 8,754
Prepayments 3,532 1,473
8,666 10,227

Plus Property Limited (Registered number: 02385944)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 352,000 465,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 61,619 22,622
Social security and other taxes 13,081 9,686
Accruals and deferred income 59,224 61,137
Directors' current accounts 382,329 410,993
516,253 504,438

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 2,039,667 269,892 2,309,559
Profit for the year 17,361 17,361
Dividends (500 ) (500 )
Fair value adjustment 113,000 (113,000 ) -
Deferred tax adjustment (15,950 ) 15,950 -
At 30 June 2024 2,153,578 172,842 2,326,420