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REGISTERED NUMBER: SC169179 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Local Planet Solutions Limited

Local Planet Solutions Limited (Registered number: SC169179)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Local Planet Solutions Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: P J Brennan
S Radcliffe
R R J Mann





SECRETARY: P J Brennan





REGISTERED OFFICE: The Building Design Centre
125 Muir Street
Hamilton
Lanarkshire
ML3 6BJ





REGISTERED NUMBER: SC169179 (Scotland)





ACCOUNTANTS: cbs (Scotland) Ltd
33 Laird Street
Coatbridge
Lanarkshire
ML5 3LW

Local Planet Solutions Limited (Registered number: SC169179)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 35,033 44,340
35,033 44,340

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 6 164,628 124,737
Cash at bank and in hand 73,205 77,162
238,833 202,899
CREDITORS
Amounts falling due within one year 7 (152,862 ) (152,162 )
NET CURRENT ASSETS 85,971 50,737
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,004

95,077

PROVISIONS FOR LIABILITIES (8,599 ) (10,744 )
NET ASSETS 112,405 84,333

CAPITAL AND RESERVES
Called up share capital 9,000 9,000
Retained earnings 103,405 75,333
112,405 84,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Local Planet Solutions Limited (Registered number: SC169179)

Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 11 April 2024 and were signed on its behalf by:





P J Brennan - Director


Local Planet Solutions Limited (Registered number: SC169179)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Local Planet Solutions Limited is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible fixed assets
Intangible fixed assets are initially measured at cost. After initial recognition, intangible fixed assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 25% on cost and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

Local Planet Solutions Limited (Registered number: SC169179)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 132,750 84,955 217,705
AMORTISATION
At 1 November 2022
and 31 October 2023 132,750 84,955 217,705
NET BOOK VALUE
At 31 October 2023 - - -
At 31 October 2022 - - -

Goodwill has been fully amortised.

Patents and licences have been fully amortised.

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 158,469
DEPRECIATION
At 1 November 2022 114,129
Charge for year 9,307
At 31 October 2023 123,436
NET BOOK VALUE
At 31 October 2023 35,033
At 31 October 2022 44,340

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 159,198 113,653
Other debtors 5,430 11,084
164,628 124,737

Local Planet Solutions Limited (Registered number: SC169179)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 19,180 13,103
Taxation and social security 68,176 60,014
Other creditors 65,506 79,045
152,862 152,162

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owed the directors, £682 (-£1,401 - 2022).