Registered number
07476919
Planet Data Solutions Limited
Unaudited Filleted Accounts
30 November 2024
Planet Data Solutions Limited
Registered number: 07476919
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,709 11,977
Current assets
Stocks - 2,155
Debtors 4 115,162 144,568
Cash at bank and in hand 83,270 70,464
198,432 217,187
Creditors: amounts falling due within one year 5 (46,364) (80,357)
Net current assets 152,068 136,830
Total assets less current liabilities 156,777 148,807
Creditors: amounts falling due after more than one year 6 (6,860) (17,498)
Net assets 149,917 131,309
Capital and reserves
Called up share capital 11 11
Profit and loss account 149,906 131,298
Shareholders' funds 149,917 131,309
The director is 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 director acknowledges his 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.
Mr D Smith
Director
Approved by the board on 5 June 2025
Planet Data Solutions Limited
Notes to the Accounts
for the year ended 30 November 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment over 20 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 16,316 23,775 40,091
Additions 250 - 250
At 30 November 2024 16,566 23,775 40,341
Depreciation
At 1 December 2023 10,282 17,832 28,114
Charge for the year 1,574 5,944 7,518
At 30 November 2024 11,856 23,776 35,632
Net book value
At 30 November 2024 4,710 (1) 4,709
At 30 November 2023 6,034 5,943 11,977
4 Debtors 2024 2023
£ £
Trade debtors 10,405 93,403
Other debtors 104,757 51,165
115,162 144,568
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,512 9,948
Trade creditors 2,237 4,561
Taxation and social security costs 31,888 65,848
Other creditors 1,727 -
46,364 80,357
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,860 17,498
7 Other information
Planet Data Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Church Meadow
Unsworth
Bury
BL9 8JF
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