Plan-it Interiors Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05185928 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

PLAN-IT INTERIORS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

T Fenton

J Fenton

REGISTERED OFFICE:

107 Bell Street

London

NW1 6TL

REGISTERED NUMBER:

05185928 (England and Wales)

ACCOUNTANTS:

Butters Gates & Company

107 Bell Street

London

NW1 6TL

FIXED ASSETS

Tangible assets

2

7,340

13,883

CURRENT ASSETS

Debtors

86,011

193,558

Cash at bank

68,036

39,420

154,047

232,978

CREDITORS

Amounts falling due within one year

130,110

201,108

NET CURRENT ASSETS

23,937

31,870

TOTAL ASSETS LESS CURRENT LIABILITIES

31,277

45,753

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

31,177

45,653

SHAREHOLDERS' FUNDS

31,277

45,753

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 February 2015 and were signed on its behalf by:

J Fenton - Director

T Fenton - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where

turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

Straight line over 5 years

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

54,813

Additions

783

At 31 December 2014

55,596

DEPRECIATION

At 1 January 2014

40,930

Charge for year

7,326

At 31 December 2014

48,256

NET BOOK VALUE

At 31 December 2014

7,340

At 31 December 2013

13,883

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

100

Ordinary shares

£1

100

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2014 and

31 December 2013:

31.12.14

31.12.13

£

£

J Fenton and T Fenton

Balance outstanding at start of year

120,413

104,175

Amounts advanced

-

50,238

Amounts repaid

(106,531

)

(34,000

)

Balance outstanding at end of year

13,882

120,413