Planning Solutions Limited - Accounts to registrar (filleted) - small 18.2
Planning Solutions Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| FOR |
| PLANNING SOLUTIONS LIMITED |
| PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 03138503) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 10 |
| PLANNING SOLUTIONS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Chilworth Point |
| 1 Chilworth Road |
| Southampton |
| SO16 7JQ |
| PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 03138503) |
| BALANCE SHEET |
| 31 DECEMBER 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 03138503) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 03138503) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| 1. | STATUTORY INFORMATION |
| Planning Solutions Limited is a |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| The financial statements have been prepared on a going concern basis, which assumes that the company will continue in existence for the foreseeable future. |
| The director has declared his intention to continue to support the company for the foreseeable future and will not require repayment of his director's loan account within 12 months of signing the directors report. |
| The directors consider that in preparing the financial statements they have taken into account all information that could reasonably be expected to be available. On this basis they consider that it is appropriate to prepare financial statements on a going concern basis. |
| PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS |
| The financial statements contain information about Planning Solutions Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| REVENUE RECOGNITION |
| Turnover is the amount derived from the provision of leisure activities and property development, and is stated net of VAT and recognised upon invoicing the customer. |
| Revenue for admissions is recognised at the date of entry. Revenue from sales of pre-paid tickets through third party discount websites are deferred until the payment is received. |
| Retail and catering revenue is recognised when the goods or services are supplied. |
| Deposits from letting of bedroom and suite accommodation are recognised as sales when payments are received. Room sales are also recognised as sales when payments are received from customers. |
| Revenue from property development is recognised when completion occurs. |
| TANGIBLE FIXED ASSETS |
| Long leasehold | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost included expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| The assets' residual values, useful lives and depreciation methods are reviewed and if appropriate are adjusted if there is an indication of a significant change since the last reporting date. |
| Mr M Stickland, the director of the company, ensures that the long leasehold property is included in the balance sheet at its open market value. The value of property is determined in accordance with land registry research carried out by Mr M Stickland. |
| INVESTMENTS IN SUBSIDIARIES |
| Investments in subsidiary undertakings are recognised at cost. |
| PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 03138503) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| INVESTMENT PROPERTY |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Mr M Stickland, the director of the company, ensures that the investment properties held are included in the balance sheet at their open market value. The value of property is determined in accordance with land registry research carried out by Mr M Stickland. |
| STOCK AND WORK IN PROGRESS |
| Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis. The cost of work in progress and finished goods includes all production overheads and depreciation and the attributable proportion of indirect overheads based on the normal level of activity. Net realisable value is based on estimated selling price less the estimated cost of disposal. |
| TAXATION |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| LEASES AND HIRE PURCHASE CONTRACTS |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| PENSIONS |
| The company makes contributions into a recognised UK defined contribution scheme. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 03138503) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | Long | to | Plant and |
| property | leasehold | property | machinery |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2020 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| Reclassification/transfer | ( |
) | ( |
) |
| At 31 December 2020 |
| DEPRECIATION |
| At 1 January 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| Revaluation adjustments | ( |
) | ( |
) |
| Reclassification/transfer | ( |
) | ( |
) |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2020 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| Reclassification/transfer | ( |
) |
| At 31 December 2020 |
| DEPRECIATION |
| At 1 January 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| Revaluation adjustments | ( |
) |
| Reclassification/transfer | ( |
) |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 03138503) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 31 December 2020 is represented by: |
| Improvements |
| Freehold | Long | to | Plant and |
| property | leasehold | property | machinery |
| £ | £ | £ | £ |
| Valuation in 2018 | - | 19,787 | - | - |
| Valuation in 2020 | - | 70,922 | - | - |
| Cost | 800 | 808,569 | 750,722 | 2,666,951 |
| 800 | 899,278 | 750,722 | 2,666,951 |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| Valuation in 2018 | - | - | - | 19,787 |
| Valuation in 2020 | - | - | - | 70,922 |
| Cost | 471,625 | 9,511 | 155,878 | 4,864,056 |
| 471,625 | 9,511 | 155,878 | 4,954,765 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST OR VALUATION |
| At 1 January 2020 |
| and 31 December 2020 |
| DEPRECIATION |
| At 1 January 2020 |
| Charge for year |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2020 |
| and 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 03138503) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2020 |
| Revaluations | 48,093 |
| Reclassification/transfer | 366,907 |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| Fair value at 31 December 2020 is represented by: |
| £ |
| Valuation in 2018 | 138,840 |
| Valuation in 2020 | 48,093 |
| Cost | 428,067 |
| 615,000 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Deferred tax asset |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 10) |
| Trade creditors |
| Social security and other taxes |
| VAT |
| Other creditors and payments |
| on account |
| Directors' current accounts |
| Deferred income |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans - more than 5 year |
| Hire purchase contracts (see note 10) |
| Other creditors |
| PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 03138503) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans - more than 5 year | - | 476,362 |
| Hire purchase | - | 15,743 |
| - | 492,105 |
| Within other creditors repayable after more than one year is a loan of £172,554 (2019: £172,554) from the Company's Small Self - Administered Pension Scheme of which a director is a member. |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2020 | 2019 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| In more than five years |
| Non-cancellable operating | leases |
| 2020 | 2019 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| The secured loans above are in the form of both a fixed charge with respect to the long leasehold property and a floating charge over the assets of the company. The hire purchase debts are secured against the assets to which they relate. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PLANNING SOLUTIONS LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Planning Solutions Limited for the year ended 31 December 2020 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Planning Solutions Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Planning Solutions Limited and state those matters that we have agreed to state to the director of Planning Solutions Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Planning Solutions Limited and its director for our work or for this report. |
| It is your duty to ensure that Planning Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Planning Solutions Limited. You consider that Planning Solutions Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Planning Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Chilworth Point |
| 1 Chilworth Road |
| Southampton |
| SO16 7JQ |
| Date: ............................................. |