Registered number
12310761
Planet Properties NW Ltd
Unaudited Filleted Accounts
30 April 2024
Planet Properties NW Ltd
Registered number: 12310761
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 500,000 525,000
Current assets
Debtors 4 4,752 2
Cash at bank and in hand 13,612 11,602
18,364 11,604
Creditors: amounts falling due within one year 5 (106,414) (137,251)
Net current liabilities (88,050) (125,647)
Total assets less current liabilities 411,950 399,353
Creditors: amounts falling due after more than one year 6 (420,800) (420,800)
Net liabilities (8,850) (21,447)
Capital and reserves
Called up share capital 2 2
Profit and loss account (8,852) (21,449)
Shareholders' funds (8,850) (21,447)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Hannah Alexandra Ashworth
Director
Approved by the board on 21 January 2025
Planet Properties NW Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investment Property
Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 May 2023 525,000
Loss on revaluation (25,000)
At 30 April 2024 500,000
Depreciation
At 30 April 2024 -
Net book value
At 30 April 2024 500,000
At 30 April 2023 525,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 546,829 546,829
Cumulative depreciation based on historical cost - -
546,829 546,829
The investment property was revalued during the period by the directors. Valuations are based on mortgage valuations.
4 Debtors 2024 2023
£ £
Deferred tax asset 4,750 -
Other debtors 2 2
4,752 2
5 Creditors: amounts falling due within one year 2024 2023
£ £
Loans and overdrafts 92,152 132,062
Taxation and social security costs 7,705 89
Other creditors 6,557 5,100
106,414 137,251
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 420,800 420,800
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 420,800 420,800
Secured bank loans represent interest only mortgages secured against the properties to which they relate.
8 Related party transactions
Interest free loans were advanced by and repaid to John Anthony Battersby during the period. The balance due to John Anthony Battersby at the period end was £46,031 (2023: £66,031). Loans are repayable on demand.

Interest free loans were advanced by and repaid to H&J Investments Limited during the period, a company registered in England & Wales with company number 11337335 and of which Mrs Hannah Alexandra Battersby is a director. The balance due to H&J Investments Limited at the period end was £46,120 (2023: £66,031). Loans are repayable on demand.
9 Controlling party
The company is controlled by the directors.
10 Other information
Planet Properties NW Ltd is a private company limited by shares and incorporated in England. Its registered office is:
13 Framingham Road
Sale
M33 3ST
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