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Registered Number: 01315922
England and Wales

 

 

 

PLANET INTELLIGENT TECHNOLOGY LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 July 2023

End date: 31 December 2024

PLANET INTELLIGENT TECHNOLOGY LIMITED
Contents Page
For the Period 01 July 2023 to 31 December 2024
You consider that the company is exempt from an audit for the year ended 31 December 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



....................................................

Greenwhite Consulting Limited
6 Mitre Passage
Greenwich Peninsula
London
SE10 0ER
30 October 2025
1
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Intangible fixed assets 3 1,756,516    792,863 
Tangible fixed assets 4 93,485    87,127 
1,850,001    879,990 
Current assets      
Stocks -    16,889 
Debtors 538,126    317,431 
Cash at bank and in hand 73,088    161,986 
611,214    496,306 
Creditors: amount falling due within one year (294,638)   (388,776)
Net current assets 316,576    107,530 
 
Total assets less current liabilities 2,166,577    987,520 
Creditors: amount falling due after more than one year (873,993)   (672,186)
Provisions for liabilities (1,524)   - 
Net assets 1,291,060    315,334 
 

Capital and reserves 		     
Called up share capital 5 100    100 
Revaluation Reserves 1,053,782    150,000 
General Reserves 280    1 
Profit and loss account 236,898    165,233 
Shareholders' funds 1,291,060    315,334 
 


For the period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 30 October 2025 and were signed on its behalf by:


-------------------------------
Babafemi Adigun
Director
2
General Information
PLANET INTELLIGENT TECHNOLOGY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01315922, registration address Unit 14 Horizon Business Village, 1 Brooklands Road, Weybridge, Surrey, KT13 0TJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 18% Reducing Balance
Fixtures and Fittings 18% Reducing Balance
Office Equipment 18% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 15 (2023 : 15).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 July 2023 792,863    792,863 
Additions -    - 
Disposals -    - 
Revaluations 963,653    963,653 
At 31 December 2024 1,756,516    1,756,516 
Net book values
At 31 December 2024 1,756,516    1,756,516 
At 30 June 2023 792,863    792,863 


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Office Equipment   Total
  £   £   £   £
At 01 July 2023 44,857    31,160    166,067    242,084 
Additions -    -    20,612    20,612 
Disposals (421)   (4,685)   (7,996)   (13,102)
At 31 December 2024 44,436    26,475    178,683    249,594 
Depreciation
At 01 July 2023 44,436    15,166    95,355    154,957 
Charge for period -    -    1,152    1,152 
On disposals -    -    -    - 
At 31 December 2024 44,436    15,166    96,507    156,109 
Net book values
Closing balance as at 31 December 2024 -    11,309    82,176    93,485 
Opening balance as at 01 July 2023 421    15,994    70,712    87,127 


5.

Share Capital

Authorised
1,000 Class A shares of £0.10 each
Allotted, called up and fully paid
2024
£		   2023
£
1,000 Class A shares of £0.10 each 100    100 
100    100 

6.

General Reserves

2024
£		   2023
£
General Reserve 280    1 
280    1 

7.

Shareholding for Non-directors

The following are the shareholders in the company who are not directors and not involved in the day to day operation of the business:  
1. Rose Hall Properties LLP (03 April 2023)       10% 
3