General Information
Planet Recruitment Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 11990486, registration address 85f Park Drive, Milton Park, Abingdon, OX14 4RY.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
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:
| Fixtures and Fittings |
33% Straight Line
|
| Computer Equipment |
33% Straight Line
|
Stocks & work in progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work in progress and finished goods include labour and attributable overheads.
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. |
Off Balance Sheet Arrangements
At the balance sheet date the company had future minimum lease payments due under operating leases of £51,376 (2024: £27,314). The non current liability was £40,333 (2024: nil).
|
| 3. |
Average number of employees
Average number of employees during the year was 36 (2024 : 38).
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 January 2025 |
10,037 |
|
23,520 |
|
33,557 |
| Additions |
2,296 |
|
7,390 |
|
9,686 |
| Disposals |
(1,332) |
|
(822) |
|
(2,154) |
| At 31 December 2025 |
11,001 |
|
30,088 |
|
41,089 |
| Depreciation |
| At 01 January 2025 |
7,445 |
|
20,795 |
|
28,240 |
| Charge for year |
1,629 |
|
3,724 |
|
5,353 |
| On disposals |
(444) |
|
(822) |
|
(1,266) |
| At 31 December 2025 |
8,630 |
|
23,697 |
|
32,327 |
| Net book values |
| Closing balance as at 31 December 2025 |
2,371 |
|
6,391 |
|
8,762 |
| Opening balance as at 01 January 2025 |
2,592 |
|
2,725 |
|
5,317 |
|
| 5. |
Stocks
|
2025
£ |
|
2024
£ |
| Work in Progress |
49,131 |
|
67,489 |
|
49,131 |
|
67,489 |
|
| 6. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
2,547,480 |
|
2,188,955 |
| Provision for Doubtful Debts |
- |
|
(2,963) |
| Prepayments & Accrued Income |
28,656 |
|
35,016 |
| Other Debtors |
73,641 |
|
9,000 |
|
2,649,777 |
|
2,230,008 |
Secured debtors
Included within other debtors is an amount of £65,916 (2024: £nil) from the RBS Facflow invoice finance facility secured against assigned debtors at year end.
|
| 7. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
48,872 |
|
55,741 |
| Bank Loans & Overdrafts |
2,763 |
|
4,968 |
| Corporation Tax |
328,271 |
|
209,412 |
| PAYE & Social Security |
53,654 |
|
26,840 |
| Accruals & Deferred Income |
106,092 |
|
66,444 |
| Other Creditors |
3,172 |
|
45,044 |
| Wages & Salaries Control Account |
27,629 |
|
7,267 |
| Directors' Current Accounts |
51,543 |
|
56,857 |
| VAT |
176,805 |
|
137,842 |
|
798,801 |
|
610,415 |
Secured Creditors
Included within other creditors is an amount of £nil (2024: £36,466) from RBS Facflow invoice finance facility secured against assigned debtors at the year end.
|
| 8. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
- |
|
2,629 |
|
- |
|
2,629 |
|
| 9. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
1,409 |
|
3,601 |
| Charged to Profit & Loss |
782 |
|
(2,192) |
| Pension Provisions |
6,103 |
|
5,759 |
|
8,294 |
|
7,168 |
|
| 10. |
Transactions with Related Parties
Planet Recruitment Services Ltd, Planet IT Limited, and Planet IT Consulting Limited are related by virtue of common control.
During the period Planet Recruitment Services Ltd provided recruitment services to Planet IT Limited for £44,577 (2024: £8.836). At the balance sheet date the amount owed by Planet IT Limited was £5,091 (2024: £6,520).
During the period Planet IT Limited charged Planet Recruitment Services Ltd for costs incurred on their behalf of £30,883 (2024: £10,142). At the balance sheet date the amount owed to Planet IT Limited was £20,528 (2024: £1,518).
During the period Planet Recruitment Services Ltd provided recruitment services to Planet IT Consulting Limited for £310,869 (2024: £152,250). At the balance sheet date the amount owed by Planet IT Consulting Limited was £28,956 (2024: £36,200).
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