PLANET SOUNDS LIMITED - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 05614685 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

PLANET SOUNDS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

T S Betts

SECRETARY:

Mrs A J Betts

REGISTERED OFFICE:

The Gatehouse

Wick Drive

New Milton

Hampshire

BH25 6SJ

REGISTERED NUMBER:

05614685 (England and Wales)

ACCOUNTANTS:

Richard Baker & Co.

The Gatehouse

Wick Drive

New Milton

Hampshire

BH25 6SJ

FIXED ASSETS

Intangible assets

2

22,100

23,800

Tangible assets

3

5,031

5,985

27,131

29,785

CURRENT ASSETS

Debtors

344

464

Cash at bank

656

1,010

1,000

1,474

CREDITORS

Amounts falling due within one year

18,559

21,767

NET CURRENT LIABILITIES

(17,559

)

(20,293

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,572

9,492

CREDITORS

Amounts falling due after more than one year

(664

)

(983

)

PROVISIONS FOR LIABILITIES

(968

)

(1,150

)

NET ASSETS

7,940

7,359

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

7,840

7,259

SHAREHOLDERS' FUNDS

7,940

7,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 18 December 2014 and were signed by:

T S Betts - 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).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Equipment, fixtures & fittings 15% per annum reducing balance basis.

Computer equipment 20% per annum reducing balance basis.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

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

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

34,000

AMORTISATION

At 1 April 2013

10,200

Amortisation for year

1,700

At 31 March 2014

11,900

NET BOOK VALUE

At 31 March 2014

22,100

At 31 March 2013

23,800

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

10,598

DEPRECIATION

At 1 April 2013

4,613

Charge for year

954

At 31 March 2014

5,567

NET BOOK VALUE

At 31 March 2014

5,031

At 31 March 2013

5,985

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

100

Ordinary

1

100

100