Company Registration No. 11725320 (England and Wales)
Planbox Imaginatik Limited
Unaudited accounts
for the year ended 31 December 2021
Planbox Imaginatik Limited
Unaudited accounts
Contents
Planbox Imaginatik Limited
Company Information
for the year ended 31 December 2021
Company Number
11725320 (England and Wales)
Registered Office
22 Great James Street
London
WC1N 3ES
United Kingdom
Accountants
Accounts Lab Ltd
107 Kirkgate
Leeds
West Yorkshire
LS1 6DP
Planbox Imaginatik Limited
Statement of financial position
as at 31 December 2021
Intangible assets
854,903
1,227,771
Tangible assets
862
10,852
Cash at bank and in hand
300,515
92,789
Creditors: amounts falling due within one year
(1,561,029)
(1,932,559)
Net current liabilities
(363,241)
(650,022)
Total assets less current liabilities
492,524
588,601
Provisions for liabilities
Net assets
492,524
586,539
Called up share capital
1,000
1
Profit and loss account
491,524
586,538
Shareholders' funds
492,524
586,539
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 August 2022 and were signed on its behalf by
Rudolf Melik
Director
Company Registration No. 11725320
Planbox Imaginatik Limited
Notes to the Accounts
for the year ended 31 December 2021
Planbox Imaginatik Limited is a private company, limited by shares, registered in England and Wales, registration number 11725320. The registered office is 22 Great James Street, London, WC1N 3ES, United Kingdom .
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.33% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortization.
Goodwill:
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. Goodwill is amortized over its expected life, which is 5 years.
Other intangible fixed assets:
Other intangible fixed assets consist of software development. Software development is amortized over its expected useful life of 5 years.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Planbox Imaginatik Limited
Notes to the Accounts
for the year ended 31 December 2021
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Expenditure on research and development is written off in the year in which it is incurred.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Intangible fixed assets
Goodwill
Other
Total
At 1 January 2021
191,258
1,768,708
1,959,966
At 31 December 2021
191,258
1,768,708
1,959,966
At 1 January 2021
54,190
678,005
732,195
Charge for the year
19,126
353,742
372,868
At 31 December 2021
73,316
1,031,747
1,105,063
At 31 December 2021
117,942
736,961
854,903
At 31 December 2020
137,068
1,090,703
1,227,771
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Tangible fixed assets
Computer equipment
At 31 December 2021
30,000
At 31 December 2021
29,138
At 31 December 2020
10,852
Planbox Imaginatik Limited
Notes to the Accounts
for the year ended 31 December 2021
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Debtors: amounts falling due within one year
2021
2020
Trade debtors
17,650
277,358
Amounts due from group undertakings etc.
842,563
885,247
Accrued income and prepayments
2,949
77
Other debtors
34,111
27,066
7
Creditors: amounts falling due within one year
2021
2020
Trade creditors
15,319
6,063
Amounts owed to group undertakings and other participating interests
1,315,263
1,698,132
Taxes and social security
17,391
12,883
Other creditors
8,113
6,202
Deferred income
202,053
201,804
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1
Shares issued during the period:
999 Ordinary shares of £1 each
999
9
Transactions with related parties
Planbox Inc. (Canada):
The company is related by virtue of common control. At the balance sheet date the amount due to PLanbox Inc. (Canada) was £162,601 (2020: £545,469)
Planbox, Inc (USA):
The company is related by virtue of common control. At the balance sheet date the amount due from Planbox Inc (USA) was £842,583 (2020: £885,247).
Planbox International Inc.:
The company is a wholly owned subsidiary of Planbox International Inc. At the balance sheet date the amount due to Planbox Internal Inc was £1,152,663 (2020: £1,152,663).
The company's parent company is Planbox International Inc., a company incorporated in Canada.
For the year ended 31 December 2021 Planbox International Inc. was controlled by Planbox Inc., incorporated in Canada.
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Average number of employees
During the year the average number of employees was 8 (2020: 9).