Registration number:
Planit LGPM Limited
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Planit LGPM Limited
Contents
Company Information |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Planit LGPM Limited
Company Information
Directors |
S Cox K A Thompson |
Registered office |
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Accountants |
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Planit LGPM Limited
Statement of Financial Position as at 30 June 2021
Note |
2021 |
2020 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
7 |
8 |
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Capital redemption reserve |
3 |
2 |
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Profit and loss account |
296,463 |
330,001 |
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Shareholders' funds |
296,473 |
330,011 |
For the financial year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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S Cox
Director
Company registration number: 07809594
Planit LGPM Limited
Statement of Changes in Equity for the Year Ended 30 June 2021
Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 July 2020 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
Purchase of own share capital |
(1) |
1 |
(27,000) |
(27,000) |
At 30 June 2021 |
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 July 2019 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
At 30 June 2020 |
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Planit LGPM Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of performance marketing.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention and are presented in sterling, which is the functional currency of the entity.
Going concern
The company made a profit for the year ended 30 June 2021 and had net assets amounting to £296,473 at that date including cash at bank amounting to £209,259.
Despite the ongoing issues of the pandemic and supply chain issues that are impacting client businesses, the directors consider that the company is in a solid position. The company as continued to increase its service offering and flexibility of approach, resulting in increased budgets and commitment levels from clients. In addition the company continues to win new clients, which over time is expected to increase turnover. A continued focus on careful management of direct costs and overheads is expected to lead to an increase in profitability over the next year. Although there is still a great deal uncertainty across the UK in a number of areas, the directors' view is that its impact will be manageable as a result of the diversity of sectors in which Planit operates.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore have prepared the accounts on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the 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 from marketing services based upon the contractual stage of completion when the company becomes entitled to economic benefit.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Planit LGPM Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2021
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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.
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.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company during the year, was
Planit LGPM Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2021
Debtors |
2021 |
2020 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the statement of financial position
The total amount of financial commitments not included in the statement of financial position is £
Transactions with directors |
At 30 June 2021 an amount of £50,184 (2020: £Nil) was due to the company from a director. During the year advances of £158,984 and repayments of £108,800 were made and interest of £1,085 (2020: £765) has been charged at 2-2.25% per annum. There are no set terms in place.