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Registration number: 08239412

12 Volt Planet Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

12 Volt Planet Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

12 Volt Planet Ltd

Company Information

Director

P H Ballard

Registered office

5 Meadow View
Drakes Drive
Long Crendon
Aylesbury
Buckinghamshire
HP18 9EQ

Accountants

Vale & West Accountancy Services Limited
Chartered AccountantsVictoria House
26 Queen Victoria House
Reading
Berkshire
RG1 1TG

 

12 Volt Planet Ltd

(Registration number: 08239412)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

1.4

33,748

40,416

Current assets

 

Stocks

212,150

209,907

Debtors

1.5

14,497

14,497

Cash at bank and in hand

 

576,444

497,294

 

803,091

721,698

Creditors: Amounts falling due within one year

1.6

(243,304)

(210,747)

Net current assets

 

559,787

510,951

Total assets less current liabilities

 

593,535

551,367

Provisions for liabilities

(8,437)

(10,104)

Net assets

 

585,098

541,263

Capital and reserves

 

Called up share capital

1

1

Retained earnings

585,097

541,262

Shareholders' funds

 

585,098

541,263

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 July 2025
 

.........................................
P H Ballard
Director

 

12 Volt Planet Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1.1

General information

The company is a private company limited by share capital, incorporated in England and Wales.
The financial statements are presented in Pound Sterling (£), which is also the functional currency of the company.

The address of its registered office is:
5 Meadow View
Drakes Drive
Long Crendon
Aylesbury
Buckinghamshire
HP18 9EQ

These financial statements were authorised for issue by the director on 22 July 2025.

1.2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors are not aware of any material uncertainties that may cast significant doubt over the
ability of the company to continue trading. The preparation of the financial statements on the going
concern basis is therefore deemed appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

12 Volt Planet Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

1.2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

12 Volt Planet Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

1.2

Accounting policies (continued)

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period
of the lease.
 

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.
 

Financial instruments


The company only enters into basic financial instruments transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, and loans to related parties.
Short term debtors are measured at transaction price, less any impairment. Short term creditors are
measured at transaction price.

 

1.3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2023 - 9).

 

12 Volt Planet Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

1.4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 November 2023

54,666

51,588

10,991

117,245

Additions

3,770

-

539

4,309

At 31 October 2024

58,436

51,588

11,530

121,554

Depreciation

At 1 November 2023

39,751

29,824

7,254

76,829

Charge for the year

4,394

5,441

1,142

10,977

At 31 October 2024

44,145

35,265

8,396

87,806

Carrying amount

At 31 October 2024

14,291

16,323

3,134

33,748

At 31 October 2023

14,915

21,764

3,737

40,416

1.5

Debtors

Current

2024
£

2023
£

Prepayments

3,247

3,247

Other debtors

11,250

11,250

 

14,497

14,497

1.6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

161,480

114,288

Taxation and social security

77,872

89,101

Accruals and deferred income

3,640

4,049

Other creditors

312

3,309

243,304

210,747