Company Registration No. 06399520 (England and Wales)
PLOTPLAN LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
PLOTPLAN LIMITED
CONTENTS
Page
Directors' report
1
Statement of comprehensive income
2
Statement of financial position
3
Statement of changes in equity
4
Notes to the financial statements
5 - 9
PLOTPLAN LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 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 continued to be that of property development.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

D E Conway
G A Conway
J M Morgan
E J Lopes-Dias
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Going Concern

The directors have assessed the company’s cashflow forecasts from future sales and operations and with continued support from Galliard Homes Limited, they are satisfied that there is sufficient available cash for at least the next twelve months to meet the operating needs of the company.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board
G A Conway
Director
2 December 2024
PLOTPLAN LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
2024
2023
Notes
£
£
Cost of sales
-
0
(70)
Administrative expenses
(301,715)
(316,503)
Operating loss
(301,715)
(316,573)
Investment income
3
1,043,361
710,387
Finance costs
4
(535,859)
(505,180)
Profit/(loss) before taxation
205,787
(111,366)
Tax on profit/(loss)
-
0
31,900
Profit/(loss) for the financial year
205,787
(79,466)

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

The notes on pages 5 to 9 form part of these financial statements.
PLOTPLAN LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
31 March 2024
- 3 -
2024
2023
Notes
£
£
£
£
Current assets
Trade and other receivables
6
11,582,410
11,166,332
Investments
5
375,069
375,069
Cash and cash equivalents
338,493
12,328
12,295,972
11,553,729
Current liabilities
7
(1,059,503)
(765,501)
Net current assets
11,236,469
10,788,228
Non-current liabilities
9
(12,889,252)
(12,646,798)
Net liabilities
(1,652,783)
(1,858,570)
Equity
Called up share capital
8
3
3
Retained earnings
(1,652,786)
(1,858,573)
Total equity
(1,652,783)
(1,858,570)

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 and delivered 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 2 December 2024 and are signed on its behalf by:
G A Conway
Director
Company Registration No. 06399520
The notes on pages 5 to 9 form part of these financial statements.
PLOTPLAN LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Share capital
Retained earnings
Total
£
£
£
Balance at 1 April 2022
3
(1,779,107)
(1,779,104)
Year ended 31 March 2023:
Loss and total comprehensive income for the year
-
(79,466)
(79,466)
Balance at 31 March 2023
3
(1,858,573)
(1,858,570)
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
205,787
205,787
Balance at 31 March 2024
3
(1,652,786)
(1,652,783)
The notes on pages 5 to 9 form part of these financial statements.
PLOTPLAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
1
Accounting policies
Company information

Plotplan Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, Sterling House, Langston Road, Loughton, Essex, IG10 3TS.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

The company has taken advantage of s400 of the Companies Act not to produce group financial statements, as it is included in the consolidated financial statements of Galliard Group Limited, a company registered in England and Wales.

The preparation of financial statements in compliance with FRS102 Section 1A Small Entities requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the accounting policies. The following principal accounting policies have been applied:

1.2
Going concern

In their assessment of going concern, the directors have prepared forecasts for a period of at least 12 months from the date of approval of the financial statements.true

 

The directors are satisfied that with the continued support of Galliard Homes Limited, there is sufficient available cash for at least the next twelve months to meet the operating needs of the company. Accordingly the directors consider it appropriate for the financial statements to be prepared on a going concern basis and that there is no material uncertainty in reaching this conclusion

1.3
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.

1.4
Financial instruments

Financial assets, other than investments, are initially measured at transaction price and subsequently held at cost, less any impairment.

 

Financial liabilities are measured initially at transaction price and subsequently at amortised cost.

 

Financial liabilities and equity are classified according to the substance of the instrument's contractual obligation, rather than its legal form.

 

Finance costs are charged to profit and loss over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount.

PLOTPLAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
1.5
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.

1.6
Taxation

The tax expense for the period comprises current and deferred tax.

Current tax

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantially enacted by the reporting date.

Deferred tax

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except:

 

 

Deferred tax balances are not recognised in respect of permanent differences.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8

Finance costs

Finance costs are charged to profit over the term of the debt so that the amount charged is at a constant rate on the carrying amount. Finance costs include issue costs, which are initially recognised as a reduction in the proceeds of the associated capital instrument.

1.9
Other operating income
Other operating income comprises rental income net of value added tax and expenses directly attributable to the rented property.
PLOTPLAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Investment income
2024
2023
£
£
Interest income
Other interest income
1,043,361
710,387
1,043,361
710,387
4
Finance costs
2024
2023
£
£
Interest on loans
535,859
505,180
535,859
505,180
5
Current asset investments
2024
2023
£
£
Other investments
375,069
375,069
PLOTPLAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
6
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Loans
10,658,304
3,873,170
Other receivables
845,341
841,856
11,503,645
4,715,026
2024
2023
Amounts falling due after more than one year:
£
£
Loans
78,765
6,451,306
Total debtors
11,582,410
11,166,332
7
Current liabilities
2024
2023
£
£
Loan
1,053,253
759,848
Other payables
6,250
5,653
1,059,503
765,501

There are no amounts included under current liabilities which are payable or repayable other than by instalments and fall due for payment or repayment after the end of the period of five years beginning with the day next following reporting date.

 

The loan is secured over the assets of the company.

 

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3
3
3
3
9
Non-current liabilities
2024
2023
£
£
Loan
12,889,252
12,646,798

The loan is secured over the assets of the Company.

PLOTPLAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
10
Parent company

There is no controlling party.

11
Related party transactions

Included in receivables are amounts of £134,974 (2023: £196,285) and £537,593 (2023: £537,593) due from Galliard Homes Limited and Vinepost Limited respectively. D E Conway and G A Conway are directors of both Galliard Homes Limited and Vinepost Limited. E J Lopes-Dias is also a director of Galliard Homes Limited.

 

Also included within receivables is an amount of £8,984,757 (2023: £8,514,309) due from Reflex Bridging Limited. D E Conway is a director of Reflex Bridging Limited and J M Morgan is a director and shareholder of Reflex Bridging Limited.

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