Planet Maintenance Works Limited 31/12/2022 iXBRL

PLANET MAINTENANCE WORKS LTD - Company Information

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Company registration number: 08497191

Planet Maintenance Works Limited

Unaudited filleted abridged financial statements

31 December 2022

Planet Maintenance Works Limited

Contents

Directors and other information

Abridged statement of financial position

Notes to the financial statements

Planet Maintenance Works Limited

Directors and other information


Directors	E Demosthenous	(Appointed 14 February 2022)
	M Eleftheriou	(Resigned 14 February 2022)


Company number	08497191


Registered office	42A Park Road
	London
	N8 8TD


Accountants	Alpha Omega Group Limited
	1 Kings Avenue
	Winchmore Hill
	London
	N21 3NA

Planet Maintenance Works Limited

Abridged statement of financial position

31 December 2022

		2022		2021
	Note	£	£	£	£

Current assets
Debtors		62,410		54,410
Cash at bank and in hand		2,256		6,590
		_______		_______
		64,666		61,000
Creditors: amounts falling due
within one year		( 47,360)		( 44,662)
		_______		_______
Net current assets			17,306		16,338
			_______		_______
Total assets less current liabilities			17,306		16,338

			_______		_______
Net assets			17,306		16,338
			_______		_______

Capital and reserves
Called up share capital			1		1
Profit and loss account			17,305		16,337
			_______		_______
Shareholders funds			17,306		16,338
			_______		_______

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 25 July 2023 , and are signed on behalf of the board by:

E Demosthenous

Director

Company registration number: 08497191

Planet Maintenance Works Limited

Notes to the financial statements

Year ended 31 December 2022

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is 42A Park Road, London, N8 8TD. The principal activity of the company is that of property maintenance.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The financial statements have been prepared under the historical cost convention.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the presentation and functional currency of the entity. The following accounting policies have been applied consistently throughout the year.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods. There were no judgements and estimates that had significant effect on the amounts recognised in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).

5. Related party transactions

The company took the advantage of exemption under section 33.1A of FRS102 not to disclose related party transactions with wholly owned subsidiary.As at the year end there was a balance due of £62,410 (2021 - £54,410) from Alexanders Limited, a company under common control, incorporated in England.

6. Controlling party

The ultimate parent company is Planetinternationuk Limited, a company which is registered in England.The ultimate controlling party is the director, E Demosthenous .