Planning Solutions Limited - Limited company - abbreviated

REGISTERED NUMBER: 03138503

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

PLANNING SOLUTIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

6

DIRECTORS:

Mr M L Stickland

Mr P McLachlan

SECRETARY:

Fryern Company Secretarial Services Ltd

REGISTERED OFFICE:

10 Romsey Road

Eastleigh

Hampshire

SO50 9AL

REGISTERED NUMBER:

03138503

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

Hampshire

SO16 7JQ

FIXED ASSETS

Tangible assets

2

332,334

383,041

Investments

3

507,274

507,524

839,608

890,565

CURRENT ASSETS

Stocks

991,291

1,030,988

Debtors

115,555

267,295

Cash at bank and in hand

44,389

44,861

1,151,235

1,343,144

CREDITORS

Amounts falling due within one year

4

1,839,168

2,131,064

NET CURRENT LIABILITIES

(687,933

)

(787,920

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

151,675

102,645

CREDITORS

Amounts falling due after more than one
year

4

143,196

197,558

NET ASSETS/(LIABILITIES)

8,479

(94,913

)

CAPITAL AND RESERVES

Called up share capital

5

6,600

Profit and loss account

1,879

(101,513

)

SHAREHOLDERS' FUNDS

8,479

(94,913

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 29 September 2014 and were signed on its behalf
by:

Mr M L Stickland - 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).

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 has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

TURNOVER

Turnover is the amount derived from ordinary activities, and is stated after trade discounts, other sales taxes and

net of VAT.

TANGIBLE FIXED ASSETS

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

Short leasehold

-

Period of Lease

Plant and machinery

-

Over 7 to 10 years

Fixtures and fittings

-

Straight line over 10 years

Motor vehicles

-

25% on reducing balance and Over the length of the lease

Computer equipment

-

25% on reducing balance

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.

DEFERRED TAX

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

balance sheet date.

LEASES AND HIRE PURCHASE CONTRACTS

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

GOING CONCERN

These financial statements have been prepared on a going concern basis notwithstanding the fact that the

company has a deficit on its balance sheet. Assurances have been obtained from the director of the company

that his support will not be withdrawn in the foreseeable future. In the opinion of the director the company can

and will be able to meet its liabilities as they fall due.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

1,282,636

Additions

47,354

At 31 December 2013

1,329,990

DEPRECIATION

At 1 January 2013

899,595

Charge for year

98,061

At 31 December 2013

997,656

NET BOOK VALUE

At 31 December 2013

332,334

At 31 December 2012

383,041

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2013

507,524

Disposals

(250

)

At 31 December 2013

507,274

NET BOOK VALUE

At 31 December 2013

507,274

At 31 December 2012

507,524

The company's investments at the balance sheet date in the share capital of companies include the following:

Island Sport and Leisure Limited

Nature of business: Sports and leisure activities

%

Class of shares:

holding

Ordinary

75.00

31.5.13

31.5.12

£

Aggregate capital and reserves

(26,986

)

(19,521

)

Loss for the year

(7,465

)

(14,811

)

Bylene Limited

Nature of business: Operation of a restaurant

%

Class of shares:

holding

Ordinary A shares

50.00

Ordinary B shares

100.00

Redeemable preference shares

77.00

31.03.13

31.03.12

£

Aggregate capital and reserves

413,896

409,791

Profit for the year/period

4,105

12,977

Onboard TV Limited

Nature of business: Digital advertising

%

Class of shares:

holding

Ordinary

65.00

2013

2012

£

Aggregate capital and reserves

16,499

(2,047

)

Profit for the year

18,546

11,925

4.

CREDITORS

Creditors include an amount of £ 0 (2012 - £ 54,362 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

6,600

Ordinary

£1

6,600

6.	RELATED PARTIES

Included within other debtors is an amount of £17,948 (2012: £19,475) owed from Island Sport and Leisure Limited , a subsidiary of the company.

During the year, the director has decided to write off a trading loan of £59,323 owed by Sea Scorpion Systems

Limited as the company has ceased trading.

During the year a number of transactions took place between Planning Solutions Limited and its subsidiaries,

which included the following:

Management charges of £176,000 (2012: £166,000) were charged to Bylene Ltd. These have been included in
turnover.

Management charges of £10,000 (2012: £10,000) were charged to Onboard TV Limited. These have been
included in turnover.

It is common practice for Planning Solutions Limited and its subsidiaries to incur expenses on behalf of each

other and recharge the amount paid accordingly. During the year a number of expenses were recharged

between the entities.

As a result of the transactions described above, at the year end Bylene Limited was a creditor to the company in
the sum of £494,072 (2012: £520,617) and Onboard TV Limited was a creditor to the company in the sum of
£90,224 (2012: £52,119).

During the year a number of transactions took place between Planning Solutions Limited and Planning Solutions

Consulting Limited, a company of which Mr M Stickland is a director, which include the following:

Rent and service charges of £11,747 (2012: £11,639) were charged to Planning Solutions Consulting Limited.

These have been included in turnover.

Advertising costs of £8,241 (2012: £10,049) were charged from Planning Solutions Consulting Limited. These

have been included in administration expenses.

As a result of the transactions described above, at the year end Planning Solutions Consulting Limited was a
creditor to the company in the sum of £2,770 (2012: £5,227).

Included within trade creditors is an amount of £12,325 (2012: £15,147) which is payable to Mr P McLachlan, a director of the company , in relation to management fees and expenses recharged to the company.

At the balance sheet date an amount of £382,831 (2012: £439,443) was owed to Mr M L Stickland, a director and shareholder of the company . No interest is being charged on this loan and is payable on demand.

7.

CONTROL

The Company is under the control of Mr M L Stickland.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

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 2013 which comprise the Profit and

Loss Account, the Balance Sheet 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Planning Solutions Limited, as a body, 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 Board of Directors of Planning

Solutions Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the

fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its

Board of Directors, as a body, 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 profit 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.

Rothman Pantall LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

Hampshire

SO16 7JQ

Date: .............................................

Planning Solutions Limited - Limited company - abbreviated - 11.0.0

Planning Solutions Limited - Limited company - abbreviated - 11.0.0