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REGISTERED NUMBER: SC479171 (Scotland)












Financial Statements for the Year Ended 31 May 2024

for

PLAINVIEW LTD

PLAINVIEW LTD (REGISTERED NUMBER: SC479171)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PLAINVIEW LTD

Company Information
for the Year Ended 31 May 2024







DIRECTOR: K J Stewart





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC479171 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

PLAINVIEW LTD (REGISTERED NUMBER: SC479171)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 179,417 10,644

CURRENT ASSETS
Debtors 5 55,417 33,528
Cash at bank 271,951 378,306
327,368 411,834
CREDITORS
Amounts falling due within one year 6 51,638 32,502
NET CURRENT ASSETS 275,730 379,332
TOTAL ASSETS LESS CURRENT
LIABILITIES

455,147

389,976

CAPITAL AND RESERVES
Called up share capital 100 26
Retained earnings 455,047 389,950
SHAREHOLDERS' FUNDS 455,147 389,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

PLAINVIEW LTD (REGISTERED NUMBER: SC479171)

Balance Sheet - continued
31 May 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 & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2024 and were signed by:





K J Stewart - Director


PLAINVIEW LTD (REGISTERED NUMBER: SC479171)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Plainview Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

PLAINVIEW LTD (REGISTERED NUMBER: SC479171)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Freehold Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 - 31,024 3,108 34,132
Additions 171,434 - - 171,434
At 31 May 2024 171,434 31,024 3,108 205,566
DEPRECIATION
At 1 June 2023 - 22,128 1,360 23,488
Charge for year - 2,224 437 2,661
At 31 May 2024 - 24,352 1,797 26,149
NET BOOK VALUE
At 31 May 2024 171,434 6,672 1,311 179,417
At 31 May 2023 - 8,896 1,748 10,644

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 52,424 33,528
Other debtors 2,993 -
55,417 33,528

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 46,871 29,676
Other creditors 4,767 2,826
51,638 32,502

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £72,000 (2023 - £84,500) were paid to the director .

The company was under the control of K J Stewart throughout the current year and previous year.

During the year the director further advanced the company net amounts totalling £741. As at 31 May 2024 included within other creditors is a balance outstanding due to the director of £2,577 (2023- £1,836). No interest has been paid on this loan.