ACCOUNTS - Final Accounts

Registered number: 04416279

PLANGROVE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

PLANGROVE LIMITED

REGISTERED NUMBER: 04416279

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	5		2		2
			2		2
Current assets
Debtors: amounts falling due within one year	6	798,146		798,146
Cash at bank and in hand		26		26
		798,172		798,172
Creditors: amounts falling due within one year	7	(2,908)		(2,908)
Net current assets			795,264		795,264
Total assets less current liabilities			795,266		795,266

Net assets			795,266		795,266

Capital and reserves
Called up share capital	8	8
Share premium account	1,730,181	1,730,181
Profit and loss account	(934,923)	(934,923)
	795,266	795,266

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PLANGROVE LIMITED

REGISTERED NUMBER: 04416279

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

For the year ended 31 December 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

N N Virji

Director

Date: 26 September 2025

The notes on pages 3 to 5 form part of these financial statements.

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PLANGROVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The company is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

2.1

Basis of preparation of financial statements

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.

2.2

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.5

Creditors

Short-term creditors are measured at the transaction price.

Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

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PLANGROVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 January 2024	3
	At 31 December 2024	3
	Amortisation
	At 1 January 2024	3
	At 31 December 2024	3
	Net book value
	At 31 December 2024	-
	At 31 December 2023	-

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	At 1 January 2024	2
	At 31 December 2024	2

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PLANGROVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	797,896	797,896
Other debtors	250	250
	798,146	798,146

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	2,906	2,906
Amounts owed to group undertakings	2	2
	2,908	2,908

Related party transactions

The company has granted a debenture and cross guarantee with regard to a bank borrowing by Edgecross Limited, the company's subsidiary undertaking. At the balance sheet date, this borrowing amounted to £5,000,000 (2023: £6,600,000).
The bank borrowings in Edgecross Limited have been further secured by way of a share charge in favour of the bank over the entire issued share capital of the company's wholly owned subsidiaries Edgecross Limited and Plangrove Limited. There is also a share charge in place in favour of the bank over the entire issued share capital of Edgecross Limited's subsidiaries, Virji Nominees Limited and The Euston Square Hotel Limited.

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