REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2014 |
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for |
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PLANET SHOWROOMS LTD |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2014 |
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for |
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PLANET SHOWROOMS LTD |
PLANET SHOWROOMS LTD (REGISTERED NUMBER: 08337725) |
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Contents of the Abbreviated Accounts |
for the year ended 31 December 2014 |
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Abbreviated Balance Sheet | 1 | to | 2 |
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Notes to the Abbreviated Accounts | 3 | to | 5 |
PLANET SHOWROOMS LTD (REGISTERED NUMBER: 08337725) |
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Abbreviated Balance Sheet |
31 December 2014 |
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2014 | 2013 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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PROVISIONS FOR LIABILITIES |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit & loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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PLANET SHOWROOMS LTD (REGISTERED NUMBER: 08337725) |
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Abbreviated Balance Sheet - continued |
31 December 2014 |
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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. |
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The financial statements were approved by the director on
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PLANET SHOWROOMS LTD (REGISTERED NUMBER: 08337725) |
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Notes to the Abbreviated Accounts |
for the year ended 31 December 2014 |
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1. | ACCOUNTING POLICIES |
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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). |
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Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company |
qualifies as a small company. |
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Turnover |
Turnover represents the total invoice value, excluding value added tax, of sales made during the |
period. |
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Goodwill |
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Computer software |
Computer software is being amortised evenly over its estimated useful life of four years. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date where transactions or events have occurred at that date that will result in an |
obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions: |
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Deferred tax assets are recognised only to the extent that the directors consider that it is more likely |
than not that there will be suitable taxable profits from which the future reversal of the underlying timing |
differences can be deducted. |
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Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the |
periods in which timing differences reverse, based on tax rates and laws enacted or substantively |
enacted at the balance sheet date. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets |
and depreciated over the shorter of the lease term and their useful lives. Obligations under such |
agreements are included in creditors net of the finance charge allocated to future periods. The finance |
element of the rental payment is charged to the profit and loss account so as to produce constant |
periodic rates of charge on the net obligations outstanding in each period. |
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Going concern |
At 31 December 2014 the balance sheet showed a net liability position. However the directors have |
pledged their continued support to the business in order to turn the balance sheet deficit around. |
PLANET SHOWROOMS LTD (REGISTERED NUMBER: 08337725) |
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Notes to the Abbreviated Accounts - continued |
for the year ended 31 December 2014 |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2014 |
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Additions |
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At 31 December 2014 |
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AMORTISATION |
At 1 January 2014 |
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Amortisation for year |
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At 31 December 2014 |
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NET BOOK VALUE |
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At 31 December 2014 |
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At 31 December 2013 |
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3. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 January 2014 |
and 31 December 2014 |
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DEPRECIATION |
At 1 January 2014 |
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Charge for year |
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At 31 December 2014 |
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NET BOOK VALUE |
At 31 December 2014 |
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At 31 December 2013 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2014 | 2013 |
value: | £ | £ |
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Ordinary | £1 |
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100 ordinary shares were issued at par at the date of incorporation. |
PLANET SHOWROOMS LTD (REGISTERED NUMBER: 08337725) |
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Notes to the Abbreviated Accounts - continued |
for the year ended 31 December 2014 |
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5. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the year ended 31 December 2014 |
and the period ended 31 December 2013: |
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2014 | 2013 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year | ( |
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