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PLANETEQ LIMITED

Registered Number
13560318
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

PLANETEQ LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

KRUPER, Brad
KRUPER, Daryl
NEWMAN, Paul William

Registered Address

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Registered Number

13560318 (England and Wales)
PLANETEQ LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets315,7819,469
15,7819,469
Current assets
Stocks29,90239,869
Debtors2,3027,327
Cash at bank and on hand31,1637,107
63,36754,303
Creditors amounts falling due within one year4(217,962)(67,546)
Net current assets (liabilities)(154,595)(13,243)
Total assets less current liabilities(138,814)(3,774)
Net assets(138,814)(3,774)
Capital and reserves
Called up share capital300300
Profit and loss account(139,114)(4,074)
Shareholders' funds(138,814)(3,774)
The financial statements were approved and authorised for issue by the Board of Directors on 8 May 2025, and are signed on its behalf by:
KRUPER, Daryl
Director
NEWMAN, Paul William
Director

Registered Company No. 13560318
PLANETEQ LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in GBP and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Revenue 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation and provision for impairment. Depreciation is provided on cost in equal instalments over the estimated useful economic lives of fixed assets. Depreciation is not charged on assets which have not yet been brought to use. The rates of depreciation are as follows:

Straight line (years)
Land and buildings20
Plant and machinery5
Fixtures and fittings3
Vehicles3
Office Equipment3
Stocks and work in progress
Stock is valued at the lower of cost and net realisable value. Cost represents invoice price and associated freight costs less supplier rebates. Net realisable value represents the estimated selling price less costs to complete and costs to be incurred in marketing, selling and distribution.
2.Average number of employees
The average monthly number of employees, including directors, during the period was nil.

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 239,967
Additions9,967
At 31 August 2419,934
Depreciation and impairment
At 01 September 23498
Charge for year3,655
At 31 August 244,153
Net book value
At 31 August 2415,781
At 31 August 239,469
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables22,62117,941
Amounts owed to related parties195,34149,605
Total217,96267,546
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.
5.Related party transactions
The company is a wholly owned subsidiary of Planeteq Management Limited, incorporated in England and Wales. During the year, the company received a loan of £152,771 from its parent company to support working capital requirements. The loan is unsecured, interest-free, and repayable on demand. At the balance sheet date, the amount outstanding to Planeteq Management Limited was £148,231 (2023: Amount payable from the parent company £4,540). During the year, the company received a loan of £47,110 from Simmax Corp, incorporated in Alberta, Canada. Simmax Corp is a company controlled by Daryl Kruper. At the balance sheet date, the amount outstanding to Simmax Corp was £47,110 (2023: nil). The loan is unsecured, interest-free, and repayable on demand.