Abbreviated Company Accounts - PLANET OZONE LIMITED

Abbreviated Company Accounts - PLANET OZONE LIMITED


Registered Number 03790631

PLANET OZONE LIMITED

Abbreviated Accounts

30 June 2015

PLANET OZONE LIMITED Registered Number 03790631

Abbreviated Balance Sheet as at 30 June 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 16,110 5,441
16,110 5,441
Current assets
Stocks 38,307 241,566
Debtors 64,421 9,474
Cash at bank and in hand 7,197 3,667
109,925 254,707
Creditors: amounts falling due within one year (101,028) (264,557)
Net current assets (liabilities) 8,897 (9,850)
Total assets less current liabilities 25,007 (4,409)
Creditors: amounts falling due after more than one year (15,600) 0
Provisions for liabilities (2,148) 0
Total net assets (liabilities) 7,259 (4,409)
Capital and reserves
Called up share capital 3 1 1
Profit and loss account 7,258 (4,410)
Shareholders' funds 7,259 (4,409)
  • For the year ending 30 June 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 30 March 2016

And signed on their behalf by:
M S Ross, Director

PLANET OZONE LIMITED Registered Number 03790631

Notes to the Abbreviated Accounts for the period ended 30 June 2015

1Accounting 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 the value of services provided to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 25% reducing balance
Fixtures, fittings
and equipment - 25% straight line
Motor vehicles - 25% straight line

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.

2Tangible fixed assets
£
Cost
At 1 July 2014 18,766
Additions 20,631
Disposals (15,450)
Revaluations -
Transfers -
At 30 June 2015 23,947
Depreciation
At 1 July 2014 13,325
Charge for the year 5,462
On disposals (10,950)
At 30 June 2015 7,837
Net book values
At 30 June 2015 16,110
At 30 June 2014 5,441
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
1Ordinary shares of £1 each 1 1