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 2016

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 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

12,935

16,070

Current assets

Debtors

131,725

43,289

Cash at bank and in hand

504,301

511,902

636,026

555,191

Creditors: amounts falling due within one year

(441,073)

(351,555)

Net current assets

194,953

203,636

Total assets less current liabilities

207,888

219,706

Provisions for liabilities

(2,199)

(3,214)

205,689

216,492

Capital and reserves

Called up share capital

Profit and loss account

205,594

216,491

Shareholders' funds

205,689

216,492

For the financial year ended 31 March 2016 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 20 December 2016

Mr G A Saunders

Director

Company Registration No. 06499130

PLANET RAIL LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 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 January 2015).

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

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.6

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.

PLANET RAIL LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

32,236

Additions

1,035

At 31 March 2016

33,271

Depreciation

At 1 April 2015

16,166

Charge for the year

4,170

At 31 March 2016

20,336

Net book value

At 31 March 2016

12,935

At 31 March 2015

16,070

Share capital

2016

2015

Allotted, called up and fully paid

95 Ordinary shares of £1 each

During the period the Company issued 94 shares, fully paid at par value.