Planetinternationuk Limited 31/12/2017 iXBRL

Planetinternationuk Limited 31/12/2017 iXBRL

PLANETINTERNATIONUK LIMITED - Company Information

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31/12/2017 2017-12-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-01-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 08179982 2017-01-01 2017-12-31 08179982 2017-12-31 08179982 2016-01-01 2016-12-31 08179982 2016-12-31 08179982 bus:RegisteredOffice 2017-01-01 2017-12-31 08179982 bus:LeadAgentIfApplicable 2017-01-01 2017-12-31 08179982 bus:Director1 2017-01-01 2017-12-31 08179982 bus:CompanySecretary1 2017-01-01 2017-12-31 08179982 core:WithinOneYear 2017-12-31 08179982 core:WithinOneYear 2016-12-31 08179982 core:ShareCapital 2017-12-31 08179982 core:ShareCapital 2016-12-31 08179982 core:RetainedEarningsAccumulatedLosses 2017-12-31 08179982 core:RetainedEarningsAccumulatedLosses 2016-12-31 08179982 core:CostValuation core:Non-currentFinancialInstruments 2017-12-31 08179982 core:Non-currentFinancialInstruments 2017-12-31 08179982 core:Non-currentFinancialInstruments 2016-12-31 08179982 bus:SmallEntities 2017-01-01 2017-12-31 08179982 bus:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 08179982 bus:AbridgedAccounts 2017-01-01 2017-12-31 08179982 bus:SmallCompaniesRegimeForAccounts 2017-01-01 2017-12-31 08179982 bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31
Company registration number: 08179982
Planetinternationuk Limited
Unaudited filleted abridged financial statements
31 December 2017
Planetinternationuk Limited
Contents
Directors and other information
Abridged statement of financial position
Notes to the financial statements
Planetinternationuk Limited
Directors and other information
Director Miss E Demosthenous
Secretary E Demosthenous
Company number 08179982
Registered office 42a, Park Road
London
N8 8TD
Accountants Alpha Omega Group
1 Kings Avenue
Winchmore Hill
London
N21 3NA
Planetinternationuk Limited
Abridged statement of financial position
31 December 2017
2017 2016
Note £ £ £ £
Fixed assets
Investments 5 114 114
_______ _______
114 114
Current assets
Debtors 218,562 182,562
_______ _______
218,562 182,562
Creditors: amounts falling due
within one year ( 225,782) ( 191,055)
_______ _______
Net current liabilities ( 7,220) ( 8,493)
_______ _______
Total assets less current liabilities ( 7,106) ( 8,379)
_______ _______
Net liabilities ( 7,106) ( 8,379)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account ( 7,107) ( 8,380)
_______ _______
Shareholders deficit ( 7,106) ( 8,379)
_______ _______
For the year ending 31 December 2017 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 July 2018 , and are signed on behalf of the board by:
Miss E Demosthenous
Director
Company registration number: 08179982
Planetinternationuk Limited
Notes to the financial statements
Year ended 31 December 2017
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 42a, Park Road, London, N8 8TD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the balance sheet date the company had a net balance sheet deficit of £7,106 (2016 - £8,379). The director confirms that she will continue to support the company financially and considers that the company is a going concern and therefore has prepared the financial statements on this basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2016: 1 ).
5. Investments
£
Cost
At 1 January 2017 and 31 December 2017 114
_______
Impairment
At 1 January 2017 and 31 December 2017 -
_______
Carrying amount
At 31 December 2017 114
_______
At 31 December 2016 114
_______
6. Related party transactions
As at the year end the company owed the director Miss E Demosthenous £85,971. (2016 - 182,880).During the year the director withdrew £128,192 and introduced £31,283. No interest is charged on the director's loan accounts.As at the year end there was a balance due of £182,562 (2016 - £182,562) from Planet Mayfair Limited, a company under common control, incorporated in England.As at the year end there was a balance due of £4,575 (2016 - £4,575) to Planet Properties (London) Limited, a company under common control, incorporated in England. As at the year end there was a balance due of £36,000 from Planet Maintenance Work Limited, a company under common control, incorporated in England.
7. Controlling party
The ultimate controlling party is the director, Miss E Demosthenous.
Statement of consent to prepare abridged financial statements
All of the members of Planetinternationuk Limited have consented to the preparation of the abridged statement of financial position for the current year ending 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.