Planet Digital Publishing Limited - Period Ending 2017-12-31

Registration number: 09400253

Planet Digital Publishing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2017

Planet Digital Publishing Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 3

Planet Digital Publishing Limited

(Registration number: 09400253)
Balance Sheet as at 31 December 2017

	Note	2017 £	2016 £
Current assets
Debtors	3	11,622	90,796
Cash at bank and in hand		72,433	47,590
		84,055	138,386
Creditors: Amounts falling due within one year	4	(1,500)	(47,333)
Net assets		82,555	91,053
Capital and reserves
Called up share capital		100	100
Profit and loss account		82,455	90,953
Total equity		82,555	91,053

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his 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.

Approved and authorised by the director on 19 September 2018
 

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

C J P Higgins
Director

The notes on pages 2 to 3 form an integral part of these financial statements.

Page 1

Planet Digital Publishing Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2	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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 provision of digital publishing services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for digital publishing services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Page 2

Planet Digital Publishing Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

3

Debtors

	Note	2017 £	2016 £
Trade debtors		-	90,796
Amounts owed by group undertakings and undertakings in which the company has a participating interest	5	9,500	-
Other debtors		2,122	-
		11,622	90,796

4

Creditors

Creditors: amounts falling due within one year

	2017 £	2016 £
Due within one year
Trade creditors	-	3,915
Taxation and social security	-	36,664
Other creditors	1,500	6,754
	1,500	47,333

5	Related party transactions

Summary of transactions with other related parties

Planet Interactive Arts Limited
 Common director
 

Loans to related parties

2017	Other related parties £
Advanced	9,500

Page 3