Company Registration No. 03860244 (England and Wales)
PLANET TRADING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
PLANET TRADING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PLANET TRADING LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
12,662
5,761
Current assets
Debtors
998
1,329
Cash at bank and in hand
81,104
30,680
82,102
32,009
Creditors: amounts falling due within one year
(9,678)
(7,270)
Net current assets
72,424
24,739
Total assets less current liabilities
85,086
30,500
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
84,986
30,400
Shareholders' funds
85,086
30,500
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 her 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 28 December 2016
Ms M E Wanless
Director
Company Registration No. 03860244
PLANET TRADING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
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 ..
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:
Land and buildings leasehold
15% Straight line
Plant and machinery
25% Straight line
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.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
156,606
Additions
14,300
Disposals
(133,388)
At 31 March 2016
37,518
Depreciation
At 1 April 2015
150,845
On disposals
(133,388)
Charge for the year
7,399
At 31 March 2016
24,856
Net book value
At 31 March 2016
12,662
At 31 March 2015
5,761
PLANET TRADING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Related party relationships and transactions
The company is controlled by Ms M E Wanless, a director who owns 100% of the allotted share capital. Included in creditors is her director's current account balance amounting to £1,638 (2015: £3,960). Included in expenses during the year is rent paid of £12,000 (2015: £12,000) for the use of the Overdale Equestrian Centre, which is owned personally by Ms M E Wanless.
Included in creditors is her director's current account balance amounting to £1,638 (2015: £3,960).
Included in expenses during the year is rent paid of £12,000 (2015: £12,000) for the use of the Overdale Equestrian Centre, which is owned personally by Ms M E Wanless.
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