Planet78 Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04682969 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015

FOR

PLANET78 LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr DA Clayton

REGISTERED OFFICE:

14 Townsend Drive

Metheringham

Lincolnshire

LN4 3GB

REGISTERED NUMBER:

04682969 (England and Wales)

ACCOUNTANTS:

Blow Abbott Limited

36 High Street

Cleethorpes

North East Lincs

DN35 8JN

FIXED ASSETS

Tangible assets

2

1,200

1,500

CURRENT ASSETS

Stocks

11,842

10,599

Cash at bank

105,276

92,245

117,118

102,844

CREDITORS

Amounts falling due within one year

66,422

63,550

NET CURRENT ASSETS

50,696

39,294

TOTAL ASSETS LESS CURRENT LIABILITIES

51,896

40,794

PROVISIONS FOR LIABILITIES

210

263

NET ASSETS

51,686

40,531

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

51,685

40,530

SHAREHOLDERS' FUNDS

51,686

40,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 22 July 2015 and were signed by:

Mr DA Clayton - 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.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

3,347

DEPRECIATION

At 1 April 2014

1,847

Charge for year

300

At 31 March 2015

2,147

NET BOOK VALUE

At 31 March 2015

1,200

At 31 March 2014

1,500

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1

Ordinary

£1

1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The amount owing to Mr D A Clayton as at the 31st March 2015 was £48,655. (2014 : £48,910).

There is no interest charged on the loan.

During the year dividends of £29,500. (2014 : £30,000) were paid to Mr D A Clayton.