Registered number
00748324
Ploverfield Investments Limited
Unaudited Filleted Accounts
30 June 2024
Ploverfield Investments Limited
Registered number: 00748324
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,466,551 2,426,887
Investments 4 328,718 296,952
2,795,269 2,723,839
Current assets
Debtors 4 61,834 44,712
Cash at bank and in hand 54,280 98,298
116,114 143,010
Creditors: amounts falling due within one year 5 (56,721) (46,646)
Net current assets 59,393 96,364
Total assets less current liabilities 2,854,662 2,820,203
Provisions for liabilities (32,165) (22,999)
Net assets 2,822,497 2,797,204
Capital and reserves
Called up share capital 4,000 4,000
Profit and loss acount - not distributable 479,147 441,602
Profit and loss account - distributable 2,339,350 2,351,602
Shareholders' funds 2,822,497 2,797,204
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Griffiths
Director
Approved by the board on 19 March 2025
Ploverfield Investments Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents revenue earned from the rendering of services, principally the right to occupy property. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. Rental income is recognised on a time apportionment basis.
Tangible fixed assets - Investment properties
Freehold investment properties for which fair value can be measured reliably are stated at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Properties are valued using an open market valuation basis, conducted annually by the directors on the basis of rental yields.
Tangible fixed assets - Other
Other tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery and equipment 20% straight line
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost or fair value
At 1 July 2023 2,425,915 4,561 2,430,476
Fair value gains 40,000 - 40,000
At 30 June 2024 2,465,915 4,561 2,470,476
Depreciation
At 1 July 2023 - 3,589 3,589
Charge for the year - 336 336
At 30 June 2024 - 3,925 3,925
Net book value
At 30 June 2024 2,465,915 636 2,466,551
At 30 June 2023 2,425,915 972 2,426,887
Listed investments
4 Investments - market value £
At 1 July 2023 296,952
Additions 48,005
Disposals (43,253)
Fair value gain 27,014
At 30 June 2024 328,718
Historical cost
At 1 July 2023 276,215
At 30 June 2024 281,315
The company's portfolio of quoted securities, which are managed by independent investment advisors, had a market value of £328,718 (2023 : £296,952) and a cost of £281,315 (2023 : £276,215) at the year end.
4 Debtors 2024 2023
£ £
Trade debtors 60,241 43,358
Other debtors 1,593 1,354
61,834 44,712
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 41,872 28,246
Taxation and social security costs 7,874 11,083
Other creditors 6,975 7,317
56,721 46,646
6 Other information
Ploverfield Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Coach House
The Old Vicarage
Church Street
Castle Cary
Somerset
BA7 7EJ
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