Plowden Investments Limited
Annual Report and Unaudited Financial Statements
For the year ended 31 March 2024
Company Registration No. 00707886 (England and Wales)
Plowden Investments Limited
Company Information
Directors
D. W. Dove
S. Hampson
Company number
00707886
Registered office
80 Brighton Road
Horley
Surrey
RH6 7JQ
Accountants
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Plowden Investments Limited
Directors' Report
For the year ended 31 March 2024
Page 1
The directors present their annual report and financial statements for the year ended 31 March 2024.
Principal activities
The principal activity of the company throughout the year was that of investing in property.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
D. W. Dove
S. Hampson
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
D. W. Dove
Director
1 November 2024
Plowden Investments Limited
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Plowden Investments Limited for the year ended 31 March 2024
Page 2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Plowden Investments Limited for the year ended 31 March 2024 which comprise the profit and loss account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given 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 https://www.icaew.com/regulation
This report is made solely to the Board of Directors of Plowden Investments Limited, as a body, in accordance with the terms of our engagement letter dated 27 August 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Plowden Investments Limited and state those matters that we have agreed to state to the Board of Directors of Plowden Investments 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 Plowden Investments Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Plowden Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Plowden Investments Limited. You consider that Plowden Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Plowden Investments 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 statutory financial statements.
Moore Kingston Smith LLP
1 November 2024
Chartered Accountants
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Plowden Investments Limited
Profit and Loss Account
For the year ended 31 March 2024
Page 3
2024
2023
Notes
£
£
Turnover
47,044
44,123
Administrative expenses
(83,151)
(41,693)
Other operating income
479
407
Operating (loss)/profit
(35,628)
2,837
Interest receivable and similar income
23,530
4,239
(Loss)/profit before taxation
(12,098)
7,076
Taxation
1,344
(1,344)
(Loss)/profit for the financial year
(10,754)
5,732
Plowden Investments Limited
Balance Sheet
As at 31 March 2024
Page 4
2024
2023
Notes
£
£
£
£
Current assets
Stock
379,199
379,199
Debtors
3
13,415
4,283
Investments
4
545,000
Cash at bank and in hand
9,246
574,839
946,860
958,321
Creditors: amounts falling due within one year
5
(8,966)
(9,673)
Net current assets
937,894
948,648
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
937,794
948,548
Total equity
937,894
948,648
For the financial 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 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 1 November 2024 and are signed on its behalf by:
D. W. Dove
Director
Company Registration No. 00707886
Plowden Investments Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 5
1
Accounting policies
Company information
Plowden Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 80 Brighton Road, Horley, Surrey, RH6 7JQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents sales of properties together with rents, maintenance and transfer fees receivable.
1.3
Stock
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as ‘other’ or financial instruments measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons employed by the company during the year was 0 (2023: 0).
Plowden Investments Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 6
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,208
1,098
Corporation tax recoverable
1,344
Other debtors
10,863
3,185
13,415
4,283
4
Current asset investments
2024
2023
£
£
Other investments
545,000
Other investments represent amounts invested in short term deposits that have an original maturity date of no more than twelve months. The interest rate is 4.71%.
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
1,344
Other creditors
4,790
4,339
Accruals and deferred income
4,176
3,990
8,966
9,673
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
7
Related party transactions
The company paid secretarial fees of £6,875 (2023: £7,500) to D.W.D. Property and Investment Company Limited a company under the control of D. W. Dove Esq., a shareholder and director.
The company is owed £6,503 (2023: £3,185) by Gridwain Limited, a company under common control.