Planning Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03138503 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

PLANNING SOLUTIONS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mr M L Stickland

Mr P McLachlan

SECRETARY:

Fryern Company Secretarial Services Limited

REGISTERED OFFICE:

1st Floor

Chilworth Point

1 Chilworth Road

Southampton

Hampshire

SO16 7JQ

REGISTERED NUMBER:

03138503 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

SO16 7JQ

FIXED ASSETS

Tangible assets

4

2,918,076

2,112,795

Investments

5

725

725

2,918,801

2,113,520

CURRENT ASSETS

Stocks

688,336

582,453

Debtors

6

437,348

170,467

Cash at bank and in hand

49,211

289,322

1,174,895

1,042,242

CREDITORS

Amounts falling due within one year

2,989,156

2,743,280

NET CURRENT LIABILITIES

(1,814,261

)

(1,701,038

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,104,540

412,482

CREDITORS

Amounts falling due after more than one year

7

1,246,078

706,994

NET LIABILITIES

(141,538

)

(294,512

)

CAPITAL AND RESERVES

Called up share capital

6,600

6,600

Retained earnings

(148,138

)

(301,112

)

SHAREHOLDERS' FUNDS

(141,538

)

(294,512

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27 September 2018 and were signed on its behalf by:

Mr M L Stickland - Director

1.	STATUTORY INFORMATION

Planning Solutions Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, which assumes that the company will

continue in existence for the foreseeable future.

The director has declared his intention to continue to support the company for the foreseeable future and will not

require repayment of his director's loan account within 12 months of signing the directors report.

The directors consider that in preparing the financial statements they have taken into account all information that

could reasonably be expected to be available. On this basis they consider that it is appropriate to prepare

financial statements on a going concern basis.

REVENUE RECOGNITION

Turnover is the amount derived from the provision of leisure activities, and is stated after trade discounts, and

net of VAT and recognised upon invoicing the customer.

Revenue for admissions is recognised at the date of entry. Revenue from sales of pre-paid tickets through third

party discount websites are deferred until the payment is received.

Retail and catering revenue is recognised when the goods or services are supplied.

Deposits from letting of bedroom and suite accommodation are recognised as sales when payments are

received. Room sales are also recognised as sales when payments are received from customers.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

Over the length of the lease

Improvements to property

-

Over the length of the lease

Plant and machinery

-

Over 7 to 10 years

Fixtures and fittings

-

Straight line over 10 years

Motor vehicles

-

25% on reducing balance and Over the length of the lease

Computer equipment

-

25% on reducing balance

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated

impairment losses. Historical cost included expenditure that is directly attributable to bringing the asset to the

location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed and if appropriate are adjusted

if there is an indication of a significant change the last reporting date.

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost.

STOCK AND WORK IN PROGRESS

Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis.

The cost of work in progress and finished goods includes all production overheads and depreciation and the

attributable proportion of indirect overheads based on the normal level of activity. Net realisable value is based

on estimated selling price less the estimated cost of disposal.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

DEFERRED TAX

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

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENSIONS

The company makes contributions into a recognised UK defined contribution scheme.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 162 (2016 - 64 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

3,487,856

Additions

1,057,066

At 31 December 2017

4,544,922

DEPRECIATION

At 1 January 2017

1,375,061

Charge for year

251,785

At 31 December 2017

1,626,846

NET BOOK VALUE

At 31 December 2017

2,918,076

At 31 December 2016

2,112,795

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

Additions

39,311

At 31 December 2017

39,311

NET BOOK VALUE

At 31 December 2017

39,311

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2017

and 31 December 2017

725

NET BOOK VALUE

At 31 December 2017

725

At 31 December 2016

725

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other debtors

159,389

47,587

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2017

2016

£

£

Repayable by instalments

Bank loans - more than 5 year

635,127

317,633

Within other creditors repayable after more than one year is a loan of £93,196 (2016: £115,717) from the

Company's Small Self - Administered Pension Scheme of which a director is a member.

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loan

702,788

581,558

The security is in the form of both a fixed charge with respect to the long leasehold property and a floating

charge over the assets of the company.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the beginning of the year a Director was owed £1,465,956 by the company. During the year the Director

withdrew the sum of £256,671, an amount of £1,209,285 was owed by the company at the balance sheet date.

The loan is repayable on demand, no interest is being charged on the loan and no security has been provided

on this balance.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Planning Solutions Limited for the year ended 31 December 2017 which comprise the Abridged

Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Planning Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Planning Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Planning Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Planning Solutions Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Planning Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Planning Solutions Limited. You consider that Planning Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Planning Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothman Pantall LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

SO16 7JQ

Date: .............................................