Company Registration No. 08472139 (England and Wales)
PLANET FIRST LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
PLANET FIRST LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
PLANET FIRST LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
-
5,345
Tangible assets
2
3,556
2,096
3,556
7,441
Current assets
Debtors
97,049
107,957
Cash at bank and in hand
28,795
17,844
125,844
125,801
Creditors: amounts falling due within one year
(87,880)
(82,959)
Net current assets
37,964
42,842
Total assets less current liabilities
41,520
50,283
Capital and reserves
Called up share capital
3
12
12
Share premium account
49,998
49,998
Profit and loss account
(8,490)
273
Shareholders' funds
41,520
50,283
For the financial year ended 30 April 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 19 January 2017
S Malkin
Director
Company Registration No. 08472139
PLANET FIRST LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 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
Turnover
Turnover represents amounts receivable for services net of VAT.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
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
20% straight line
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 May 2015
16,035
2,855
18,890
Additions
-
2,538
2,538
At 30 April 2016
16,035
5,393
21,428
Depreciation
At 1 May 2015
10,690
759
11,449
Charge for the year
5,345
1,078
6,423
At 30 April 2016
16,035
1,837
17,872
Net book value
At 30 April 2016
-
3,556
3,556
At 30 April 2015
5,345
2,096
7,441
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
177 Ordinary of 1p each
2
2
1,000 Ordinary A of 1p each
10
10
12
12
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