Plan-it Interiors Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 05185928 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

PLAN-IT INTERIORS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

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

3,165

7,340

CURRENT ASSETS

Debtors

192,520

86,011

Cash at bank

78,607

68,036

271,127

154,047

CREDITORS

Amounts falling due within one year

265,766

130,110

NET CURRENT ASSETS

5,361

23,937

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,526

31,277

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

8,426

31,177

SHAREHOLDERS' FUNDS

8,526

31,277

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 14 June 2016 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 January 2015).

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

55,596

DEPRECIATION

At 1 January 2015

48,256

Charge for year

4,175

At 31 December 2015

52,431

NET BOOK VALUE

At 31 December 2015

3,165

At 31 December 2014

7,340

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

100

Ordinary shares

£1

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2015 and

31 December 2014:

31.12.15

31.12.14

£

J Fenton and T Fenton

Balance outstanding at start of year

13,882

120,413

Amounts advanced

12,644

-

Amounts repaid

-

(106,531

)

Balance outstanding at end of year

26,526

13,882