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REGISTERED NUMBER: 06214877 (England and Wales)















Unaudited Financial Statements

for the Period 1 June 2023 to 30 November 2023

for

Planet Property Development
(Gloucestershire) Limited

Planet Property Development
(Gloucestershire) Limited (Registered number: 06214877)

Contents of the Financial Statements
for the Period 1 June 2023 to 30 November 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Planet Property Development
(Gloucestershire) Limited

Company Information
for the Period 1 June 2023 to 30 November 2023







DIRECTOR: P G Wood



REGISTERED OFFICE: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
GL3 3RS



REGISTERED NUMBER: 06214877 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: HSBC
2 The Promenade
Cheltenham
GL50 1LR

Planet Property Development
(Gloucestershire) Limited (Registered number: 06214877)

Statement of Financial Position
30 November 2023

30/11/23 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 18,324

CURRENT ASSETS
Debtors 5 197,531 20,735
Cash at bank 106,574 277,908
304,105 298,643
CREDITORS
Amounts falling due within one year 6 40,609 26,165
NET CURRENT ASSETS 263,496 272,478
TOTAL ASSETS LESS CURRENT
LIABILITIES

263,496

290,802

CREDITORS
Amounts falling due after more than one
year

7

-

(20,748

)

PROVISIONS FOR LIABILITIES - (2,769 )
NET ASSETS 263,496 267,285

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 263,494 267,283
SHAREHOLDERS' FUNDS 263,496 267,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Planet Property Development
(Gloucestershire) Limited (Registered number: 06214877)

Statement of Financial Position - continued
30 November 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 director and authorised for issue on 13 March 2024 and were signed by:





P G Wood - Director


Planet Property Development
(Gloucestershire) Limited (Registered number: 06214877)

Notes to the Financial Statements
for the Period 1 June 2023 to 30 November 2023


1. STATUTORY INFORMATION

Planet Property Development (Gloucestershire) 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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer and office equipment - 25% on cost

Taxation
Taxation for the period 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 statement of financial position date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was 2 (2023 - 2 ) .

Planet Property Development
(Gloucestershire) Limited (Registered number: 06214877)

Notes to the Financial Statements - continued
for the Period 1 June 2023 to 30 November 2023


4. TANGIBLE FIXED ASSETS
Computer
and
Plant and office
machinery equipment Totals
£    £    £   
Cost
At 1 June 2023 36,601 8,224 44,825
Disposals (36,601 ) (8,224 ) (44,825 )
At 30 November 2023 - - -
Depreciation
At 1 June 2023 22,859 3,642 26,501
Charge for period 1,718 255 1,973
Eliminated on disposal (24,577 ) (3,897 ) (28,474 )
At 30 November 2023 - - -
Net book value
At 30 November 2023 - - -
At 31 May 2023 13,742 4,582 18,324

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 31/5/23
£    £   
Trade debtors 19,424 7,454
Other debtors 178,107 13,281
197,531 20,735

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 31/5/23
£    £   
Bank loans and overdrafts 25,767 10,000
Trade creditors 2,036 3,542
Taxation and social security 9,806 6,897
Other creditors 3,000 5,726
40,609 26,165

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/11/23 31/5/23
£    £   
Bank loans - 20,748

Planet Property Development
(Gloucestershire) Limited (Registered number: 06214877)

Notes to the Financial Statements - continued
for the Period 1 June 2023 to 30 November 2023


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 November 2023 and the year ended 31 May 2023:

30/11/23 31/5/23
£    £   
P G Wood
Balance outstanding at start of period - 134,934
Amounts advanced 172,263 1,726
Amounts repaid (5,134 ) (136,660 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 167,129 -

The loan has no fixed repayment terms. Interest on the loan of £892 was charged in the period (year end 31 May 2023 - £1,726) at the HMRC official rate of interest.