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Notes to the financial statements
For the year ended 31 December 2024
Plative Limited is a limited company limited by shares and incorporated in England and Wales. The address of the registered office is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL and its principal place of business is
One Great Cumberland Place, London, W1H 7AL.
2.Significant accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in Pound Sterling (£), which is also the functional currency.
The following principal accounting policies have been applied consistently throughout the financial year.
As of 31 December 2024, the company has net liabilities of £6,182 (2023 - £11,462). The director has confirmed that he will provide any additional financial support necessary to ensure that the liabilities of the company are met as and when they fall due. Accordingly, the financial statements have been prepared on a going concern basis.
All expenses have been accounted for on an accruals basis.
The current tax payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because it excluded items that are never taxable or deductible. The company's current tax liability is calculated using rates that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rate and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be
recovered. Deferred tax assets and liabilities are not discounted.
Investments are measured at cost less provision for impairment.
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