Registered number:
For the Year Ended
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Planet Eclipse Holdings Limited
Company Information
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Planet Eclipse Holdings Limited
Contents
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Planet Eclipse Holdings Limited
Group Strategic Report
For the Year Ended 31 March 2024
The Directors present their Group Strategic Report for the year ending 31 March 2023.
Planet Eclipse continues to expand its horizons as a universal leader in the manufacture of social sports equipment, primarily producing equipment used in the sport and pastime of paintball games.
Planet Eclipse Holdings is the UK based parent company with a UK design base, Planet Eclipse Limited, and a branch in Taiwan. The Group has a USA distribution company, Planet Eclipse LLC, and a German distribution and retail company, PE Paintball.de GmbH. In the interest of compliance, I have composed this ‘Directors' Strategic Report’ for the 2024 year end. I am not sure why you would want to, but if you are so inclined, feel free to have a gander at the facts, figures and opinions, I am sure you will find it to be a reet good read. Turnover has continued to increase, marginally, during the 2023-24 financial year, by approximately 3% from £14.8m to £15.3m. Once again, we have been very lucky to benefit from the increased interest in paintball worldwide. Throughout the year, more people were playing the sport, which lead to an increase in equipment sales both to the private individual and to the Paintball Field. The expanded range of products produced by Planet Eclipse has continued to sell well to both these areas of business. Unfortunately, the cost of everything is still higher than it should be; this has led to an approximate 23% increase in our cost of sales, and gross margin has fallen from 61% to 53%. The increase in cost of sales, marginally eased by a slight reduction in our operating expenses, along with a bit of interest, has led to an overall reduction of approximately 12% in our pre-tax profit, when compared to last year. The continued increase in the cost of power and raw materials, aided and abetted by the increased level of bureaucracy and the UK’s separation from Europe, has undoubtedly lead to a continued increase in the cost of everything. In these times, when we all have to become more careful with our spending, we have done our best to absorb the increased costs and reduced the price of some of our product lines in order to help make them more affordable. Once again, we must say a big thanks to our loyal customers, because of your support Planet Eclipse is able to reinvest in the development of new products. Without your support we would not be here. As always, the plan/strategy is to concentrate on making the best products that we can, ensure that our customers receive the best customer support and continue to just get on with it. If you did happen to have a gander at the above, I must once again apologise for its lack of interesting points, although, as I have mentioned in previous iterations, it is a Strategic report, so what did you expect ;)
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Planet Eclipse Holdings Limited
Group Strategic Report (continued)
For the Year Ended 31 March 2024
Planet Eclipse, like any company in the sporting goods industry, faces several principal risks and uncertainties.
Market competion and technological advancements - the industry is competitive and continuous product development is required, along with the implementation of marketing strategies to maintain/grow market share. The rapid pace of technological change in sports equipment means that the Group must innovate continually. Economic Conditions - Economic downturns can affect consumer spending on recreational activities, including paintball. A decline in disposable income may lead to reduced sales. Supply Chain Disruptions: Global supply chain issues, such as delays or shortages of raw materials, can impact production timelines and costs. This is particularly relevant in the wake of recent global events that have affected manufacturing and logistics. Regulatory Changes: Changes in regulations regarding safety standards, environmental impact, or import/export laws can pose challenges. Compliance with these regulations is crucial for operational continuity. Consumer Preferences: Shifts in consumer interests and preferences can affect demand. For example, trends towards alternative recreational activities could impact sales. Global Events: Events such as pandemics or geopolitical tensions can disrupt operations and affect consumer behavior, leading to uncertainties in sales forecasts. We keep a close eye on things and take whatever action can be taken to mitigate these risks.
The directors consider the group's key performance indicators ("KPI's") to be income growth, operating profit, EBITDA, stock turnover and debtor days.
- Turnover has increased by £0.5m (3%) from £14.8m to £15.3m. - Consolidated profit after tax totalled £2.2m (2023: £2.3m). - EBITDA has decreased from £3.1m to £2.7m, mainly due to the reduction in gross profit. - Gross profit margin decreased from 61% to 53%. - Operating profit totals £2.6m (2023: £3.1m) - reduction in gross profit exceeding the reduction in admin costs.. - Inventory turnover has increased from 0.73 to 1.21. - Debtor days have increased to 31.1 (2023: 18.1). Well done, you made it to the end of this very uninteresting, 2024 Directors' Group Strategic Report.
This report was approved by the board and signed on its behalf.
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Planet Eclipse Holdings Limited
Directors' Report
For the Year Ended 31 March 2024
The directors present their report and the financial statements for the year ended 31 March 2024.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £2,156,438 (2023 - £2,272,727).
Dividends paid during the year amounted to £165,000 (2023: £70,000).
The directors do not recommend the payment of a final dividend.
The directors who served during the year were:
The Group's strategy is to continue to develop and make the best products for its customers.
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Planet Eclipse Holdings Limited
Directors' Report (continued)
For the Year Ended 31 March 2024
The Group uses various financial instruments, includings cash, loans and overdrafts, as well as various items such as trade debtors and trade creditors arising from its operations. The main purpose of these financial instruments is to raise finance for the Group's operations. The Group has in place a risk management programme that seeks to limit the adverse effects on financial performance by monitoring the facctors that effect relevant financial risks.
The main risks arising from the Group's financial instruments are cash flow risk, interest rate risk, credit risk, liquidity risk and exchange rate risk. Credit risk - The Group does not generally extend credit to customers, exposure to bad debts is limited by the standard payment terms, payment for goods must be made prior to shipping or on receipt of goods. Exchange rate risk - The Group does have direct investments in operations outside of the UK and also buys and sells goods in currencies other than Sterling. As a result, the value of the Group's non-Sterling sales, purchases, assets and liabilities can be affected by fluctuations in the Sterling, Euro, US Dollar and TW Dollar exchange rates. The Group does not enter into long term exchange rate contracts, but seeks to mitigate the exchange rate fluctuations risk by utilising an offset currency overdraft facility so that currency exchange can be delayed until such time as the rate is favourable and, where possible, re-using the currency rather than exchanging the currency unnecessarily. To reiterate a quick message to all the FX companies that will pull our records from Companies House. I know many of you did not believe me last year, or most likely did not read the Directors' Report and this woefully uninteresting Financial Instruments section. Hopefully, this year you will have the chance to read it. We really do not use FX as we recycle most of our currency. Please do not waste your time calling to ask for our FX business, there really is none. Interest rate risk - The Group does not have significant exposure to interest rate or liquidity risk since the group does not have any structured debt or long term borrowings, except for a small Bank loan in one of the Group's foreign subsidiary companies, for which agreement was made during the Coronavirus pandemic.
The group continues to invest in research and development with the purpose of creating products for resale.
The group has an overseas branch in Taiwan.
There have been no significant events affecting the Group since the year end.
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Planet Eclipse Holdings Limited
Directors' Report (continued)
For the Year Ended 31 March 2024
The auditors, Hurst Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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Planet Eclipse Holdings Limited
Independent Auditors' Report to the Members of Planet Eclipse Holdings Limited
We have audited the financial statements of Planet Eclipse Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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Planet Eclipse Holdings Limited
Independent Auditors' Report to the Members of Planet Eclipse Holdings Limited (continued)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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Planet Eclipse Holdings Limited
Independent Auditors' Report to the Members of Planet Eclipse Holdings Limited (continued)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The engagement partner's assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team's: • Understanding of, and practical experience with audit engagements of a similar nature and complexity through appropriate training and participation; • Knowledge of the industry in which the entity operates; • Understanding of the legal and regulatory requirements specific to the entity. Identifying and assessing potential risks related to irregularities In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: • The nature of the industry and sector in which the Group operates; the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets. • The outcome of enquiries of management, including whether management was aware of any instances of non- compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud. • Supporting documentation relating to the Group's policies and procedures for: - Identifying, evaluating, and complying with laws and regulations - Detecting and responding to the risks of fraud • The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. • The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. • The legal and regulatory framework in which the Group operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements, and Anti-bribery and Corruption. Audit response to risks identified Our procedures to respond to the risks identified included the following: • Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements. • Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud. Procedures to identify non-compliance with relevant laws and regulations were performed at all components within the scope of our audit. • Evaluation of the operating effectiveness of management’s controls designed to prevent and detect irregularities. • Enquiring of management about any actual and potential litigation and claims. • Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud.
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Planet Eclipse Holdings Limited
Independent Auditors' Report to the Members of Planet Eclipse Holdings Limited (continued)
We have also considered the risk of fraud through management override of controls by:
• Testing the appropriateness of journal entries and other adjustments. We have used data analytics software to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error. • Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and • Evaluating the business rationale of significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
Cheshire
SK1 3GG
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Planet Eclipse Holdings Limited
Consolidated Statement of Comprehensive Income
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Registered number: 08336348
Consolidated Balance Sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 37 form part of these financial statements.
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Planet Eclipse Holdings Limited
Registered number: 08336348
Company Balance Sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 37 form part of these financial statements.
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Planet Eclipse Holdings Limited
Consolidated Statement of Changes in Equity
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Consolidated Statement of Changes in Equity
For the Year Ended 31 March 2023
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Planet Eclipse Holdings Limited
Company Statement of Changes in Equity
For the Year Ended 31 March 2024
Company Statement of Changes in Equity
For the Year Ended 31 March 2023
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Planet Eclipse Holdings Limited
Consolidated Statement of Cash Flows
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Consolidated Statement of Cash Flows (continued)
For the Year Ended 31 March 2024
Consolidated Analysis of Net Debt
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
Planet Eclipse Holdings Limited is a private company limited by shares and incorporated in England. The address of the registered office and principal place of business is Unit 14, Premier Park, Acheson Way, Trafford Park Road, Trafford Park, Manchester, M17 1GA. The company's registered number is 08336348.
The nature of the Group's operations and its principal activity is the manufacture of social sports equipment, primarily equipment used in the sport and pastime of paintball games. The nature of the Company's operations and its principal activity is that of a holding company.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in Sterling (£).
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 April 2014.
Therefore, the Group continues to recognise a merger reserve which arose on a past business combination that was accounted for as a merger in accordance with UK GAAP as applied at that time.
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
2.Accounting policies (continued)
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirement of Section 7 Statement of Cash Flows; - the requirement of Section 3 Financial Statement Presentation paragraph 3.17 (d). The Company's information is included in the consolidated financial statements.
Functional and presentation currency
Transactions and balances
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
2.Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
2.Accounting policies (continued)
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
2.Accounting policies (continued)
Goodwill
Other intangible assets
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Group's Balance Sheet when the Group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
2.Accounting policies (continued)
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and loans due to and from fellow group companies, are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
2.Accounting policies (continued)
Key sources of estimation uncertainty: Provision for unrealised profit Intra-group transactions occur between subsidiary companies. Group management exercises judgement in estimating the provision for unrealised profit associated with intra-group sales of inventory.
The whole of the turnover is attributable to the manufacture and sale of paintball markers and related products.
Analysis of turnover by country of destination:
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
11.Taxation (continued)
There were no factors that may affect future tax charges.
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
Other reserves
A merger reserve arose on a past business combination that was accounted for as a merger in accordance with UK GAAP as applied at that time. Profit and loss account The profit and loss account includes all current and prior period retained profits and losses, net of dividends paid.
The Group operates a defined contribution penson scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £53,312 (2023 - £45,380). No contributions (2023 - £Nil) were payable to the fund at the balance sheet date.
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Planet Eclipse Holdings Limited
Notes to the Financial Statements
For the Year Ended 31 March 2024
There is no overall controlling party.
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