Registered Number 07094328

PLANET FLOORING LTD

Abbreviated Accounts

31 May 2015

PLANET FLOORING LTD Registered Number 07094328

Abbreviated Balance Sheet as at 31 May 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 1,206 1,471
1,206 1,471
Current assets
Stocks 2,490 2,536
Debtors 3 18,739 19,915
Cash at bank and in hand 610 273
21,839 22,724
Creditors: amounts falling due within one year 4 (22,443 ) (22,769 )
Net current assets (liabilities) (604 ) (45 )
Total assets less current liabilities 602 1,426
Total net assets (liabilities) 602 1,426
Capital and reserves
Called up share capital 5 2 2
Profit and loss account 600 1,424
Shareholders' funds 602 1,426

  • For the year ending 31 May 2015 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 24 November 2015

And signed on their behalf by:
S Ahmet, Director

PLANET FLOORING LTD Registered Number 07094328

Notes to the Abbreviated Accounts for the period ended 31 May 2015

1 Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on reducing balance

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

Other accounting policies
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

2 Tangible fixed assets
£
Cost
At 1 June 2014 4,744
Additions -
Disposals -
Revaluations -
Transfers -
At 31 May 2015 4,744
Depreciation
At 1 June 2014 3,273
Charge for the year 265
On disposals -
At 31 May 2015 3,538
Net book values
At 31 May 2015 1,206
At 31 May 2014 1,471
3 Debtors
2015
£
2014
£
Debtors include the following amounts due after more than one year 18,739 19,915
4 Creditors
2015
£
2014
£
Secured Debts 22,443 22,769
5 Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
2 Ordinary shares of £1 each 2 2

6 Transactions with directors

Name of director receiving advance or credit: Mr S.Ahmet
Description of the transaction: Advances and credits to directors subsisted during the years ended 31 May 2015 and 31 May 2014
Balance at 1 June 2014: £ 4,262
Advances or credits made: £ 8,283
Advances or credits repaid: £ 12,000
Balance at 31 May 2015: £ 545

Name of director receiving advance or credit: Mrs P Ahmet
Description of the transaction: Advances and credits to directors subsisted during the years ended 31 May 2015 and 31 May 2014
Balance at 1 June 2014: £ 4,262
Advances or credits made: £ 8,283
Advances or credits repaid: £ 12,000
Balance at 31 May 2015: £ 545