Plutus Business Finance Limited 15204688 false 2023-10-11 2024-12-31 2024-12-31 The principal activity of the company is Financial Intermediation not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true 15204688 2023-10-11 2024-12-31 15204688 2024-12-31 15204688 core:CurrentFinancialInstruments 2024-12-31 15204688 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 15204688 core:OfficeEquipment 2024-12-31 15204688 bus:SmallEntities 2023-10-11 2024-12-31 15204688 bus:AuditExemptWithAccountantsReport 2023-10-11 2024-12-31 15204688 bus:FilletedAccounts 2023-10-11 2024-12-31 15204688 bus:SmallCompaniesRegimeForAccounts 2023-10-11 2024-12-31 15204688 bus:RegisteredOffice 2023-10-11 2024-12-31 15204688 bus:Director1 2023-10-11 2024-12-31 15204688 bus:PrivateLimitedCompanyLtd 2023-10-11 2024-12-31 15204688 core:OfficeEquipment 2023-10-11 2024-12-31 15204688 countries:EnglandWales 2023-10-11 2024-12-31 iso4217:GBP xbrli:pure

Registration number: 15204688

Plutus Business Finance Limited

Annual Report and Unaudited Filleted Financial Statements

for the Period from 11 October 2023 to 31 December 2024

 

Plutus Business Finance Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Plutus Business Finance Limited

Company Information

Director

Mr Declan Burton-Clark

Registered office

Avon House
Avonmore Road
London
W14 8TS

Accountants

GMR Accountants Ltd
1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

 

Plutus Business Finance Limited

(Registration number: 15204688)
Balance Sheet as at 31 December 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

1,097

Current assets

 

Debtors

5

1,775

Cash at bank and in hand

 

31,875

 

33,650

Creditors: Amounts falling due within one year

6

(20,809)

Net current assets

 

12,841

Net assets

 

13,938

Capital and reserves

 

Called up share capital

100

Retained earnings

13,838

Shareholders' funds

 

13,938

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 January 2025
 

.........................................
Mr Declan Burton-Clark
Director

 

Plutus Business Finance Limited

Notes to the Unaudited Financial Statements for the Period from 11 October 2023 to 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Avon House
Avonmore Road
London
W14 8TS

These financial statements were authorised for issue by the director on 15 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Plutus Business Finance Limited

Notes to the Unaudited Financial Statements for the Period from 11 October 2023 to 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Plutus Business Finance Limited

Notes to the Unaudited Financial Statements for the Period from 11 October 2023 to 31 December 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Plutus Business Finance Limited

Notes to the Unaudited Financial Statements for the Period from 11 October 2023 to 31 December 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

1,741

1,741

At 31 December 2024

1,741

1,741

Depreciation

Charge for the period

644

644

At 31 December 2024

644

644

Carrying amount

At 31 December 2024

1,097

1,097

5

Debtors

Current

2024
£

Trade debtors

1,775

 

1,775

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

7

9,815

Taxation and social security

 

7,597

Accruals and deferred income

 

924

Other creditors

 

2,473

 

20,809

7

Loans and borrowings

Current loans and borrowings

2024
£

Other borrowings

9,815

 

Plutus Business Finance Limited

Notes to the Unaudited Financial Statements for the Period from 11 October 2023 to 31 December 2024

8

Related party transactions

Director's remuneration

The director's remuneration for the period was as follows:

2024
£

Remuneration

9,405