Planeta Property Ltd - Period Ending 2016-12-31

Registration number: 09633145

Planeta Property Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

Ripe LLP
9a Burroughs Gardens
London
NW4 4AU

Planeta Property Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 5

Planeta Property Ltd

Company Information

Directors

Mr A Chaytor Miss D Chaytor Mrs A Chaytor

Registered office

9a Burroughs Gardens London NW4 4AU

Accountants

Ripe LLP 9a Burroughs Gardens London NW4 4AU

Page 1

Planeta Property Ltd

(Registration number: 09633145)
Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	2	2,985,400	2,985,400
Current assets
Debtors	3	62,478	56,520
Cash at bank and in hand		69,427	2,397
		131,905	58,917
Creditors: Amounts falling due within one year	4	(1,572,538)	(2,991,954)
Net current liabilities		(1,440,633)	(2,933,037)
Total assets less current liabilities		1,544,767	52,363
Creditors: Amounts falling due after more than one year	4	(1,435,000)	-
Net assets		109,767	52,363
Capital and reserves
Called up share capital		100	100
Profit and loss account		109,667	52,263
Total equity		109,767	52,363

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 4 to 5 form an integral part of these financial statements.

Page 2

Planeta Property Ltd

(Registration number: 09633145)
Balance Sheet as at 31 December 2016

Approved and authorised by the Board on 26 June 2017 and signed on its behalf by:
 

.........................................

Mr A Chaytor

Director

.........................................

Mrs A Chaytor

Director

The notes on pages 4 to 5 form an integral part of these financial statements.

Page 3

Planeta Property Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

2	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 January 2016	2,985,400	2,985,400
At 31 December 2016	2,985,400	2,985,400
Depreciation
Carrying amount
At 31 December 2016	2,985,400	2,985,400
At 31 December 2015	2,985,400	2,985,400

Included within the net book value of land and buildings above is £2,985,400 (2015 - £2,985,400) in respect of long leasehold land and buildings.
 

Page 4

Planeta Property Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

3

Debtors

	Note	2016 £	2015 £
Trade debtors		2,185	2,702
Amounts owed by group undertakings and undertakings in which the company has a participating interest		59,210	-
Other debtors		1,083	53,818
		62,478	56,520

4

Creditors

	Note	2016 £	2015 £
Due within one year
Trade creditors		940	36,476
Amounts owed to group undertakings and undertakings in which the company has a participating interest		1,540,250	2,939,850
Other creditors		31,348	15,628
		1,572,538	2,991,954
Due after one year
Loans and borrowings		1,435,000	-

Included in loans due after more than year is a loan due to Nationwide Building Society repayable in 2020.The loan has been provided against the property at the interest rates of 2.5% annual margin plus 3 months LIBOR payable quarterly.

Included in other creditors director's loan to the company of £1,540,250, (2015: £2,939,850).

5	Share capital

Allotted, called up and fully paid shares

	31 December 2016		31 December 2015
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

Page 5