PLANET_RAIL_LTD - Accounts

PLANET RAIL LIMITED - Company Information

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PLANET RAIL LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2015

COMPANY REGISTRATION NO. 06499130 (England and Wales)

PLANET RAIL LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PLANET RAIL LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

16,070

21,426

Current assets

Debtors

43,289

108,750

Cash at bank and in hand

511,902

422,944

555,191

531,694

Creditors: amounts falling due within one year

(351,555)

(398,942)

Net current assets

203,636

132,752

Total assets less current liabilities

219,706

154,178

Provisions for liabilities

(3,214)

(4,285)

216,492

149,893

Capital and reserves

Called up share capital

Profit and loss account

216,491

149,892

Shareholders' funds

216,492

149,893

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 December 2015

Mr G A Saunders

Director

Company Registration No. 06499130

PLANET RAIL LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 April 2014 & at 31 March 2015

32,236

Depreciation

At 1 April 2014

10,810

Charge for the year

5,356

At 31 March 2015

16,166

Net book value

At 31 March 2015

16,070

At 31 March 2014

21,426

PLANET RAIL LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

1 Ordinary share of £1 each