Company Registration No. 12873254 (England and Wales)
Item Planet Ltd
Unaudited accounts
for the year ended 30 September 2024
Item Planet Ltd
Unaudited accounts
Contents
Item Planet Ltd
Company Information
for the year ended 30 September 2024
Director
Mr R Bardjukovskis
Company Number
12873254 (England and Wales)
Registered Office
38 Robertson Way
Sapley
Huntingdon
PE28 2GG
Accountants
Just Right Accountancy ltd
93A Stanley Road
Harrow
HA2 8AY
Item Planet Ltd
Statement of financial position
as at 30 September 2024
Cash at bank and in hand
300
83
Creditors: amounts falling due within one year
(32,732)
(31,149)
Net current liabilities
(22,956)
(19,490)
Net liabilities
(22,858)
(19,344)
Called up share capital
1
1
Profit and loss account
(22,859)
(19,345)
Shareholders' funds
(22,858)
(19,344)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 June 2025 and were signed on its behalf by
Mr R Bardjukovskis
Director
Company Registration No. 12873254
Item Planet Ltd
Notes to the Accounts
for the year ended 30 September 2024
Item Planet Ltd is a private company, limited by shares, registered in England and Wales, registration number 12873254. The registered office is 38 Robertson Way, Sapley , Huntingdon , PE28 2GG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line 20%
As at the balance sheet date the company has net liabilities of £19,344.
The director has provided an undertaking not to request repayment of his loan to the company until such time as the company has sufficient funds available for this purpose. Additionally, the director has committed to continue financially supporting the company.
Based on the above the directors believe that the company will be able to continue operating and meet its liabilities as they fall due. Therefore, the financial statements have been prepared on a going concern basis.
4
Tangible fixed assets
Plant & machinery
Item Planet Ltd
Notes to the Accounts
for the year ended 30 September 2024
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
501
Loans from directors
32,082
29,798
6
Transactions with related parties
At the balance sheet date amount of 21,284 (2021: 16,194) was due to the company directors. This balance is unsecured and interest free. Directors have agreed not to seek a repayment of this amount until the company has sufficient funds.
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).