LITTLE RED PLANET LTD Accounts filed on 31-03-2014

LITTLE RED PLANET LTD - Company Information

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LITTLE RED PLANET LTD

Company Registration Number:
07584911 (England and Wales)

Report of the Directors and Unaudited Financial Statements

Period of accounts

Start date: 01st April 2013

End date: 31st March 2014

SUBMITTED

Contents of the Financial Statements
for the Period Ended 31st March 2014


Company Information
Report of the Directors
Profit and Loss Account
Gains and Losses
Balance sheet
Notes to the Financial Statements

Company Information
for the Period Ended 31st March 2014

Director:		Mrs J Shelbourne






Registered office:		33 Bramble Rise


		Cobham

		KT11 2HP




Company Registration Number:		07584911 (England and Wales)

Directors' Report Period Ended 31st March 2014

The directors present their report with the financial statements of the company for the period ended 31st March 2014

Principal activities
The principal activity of the company in the period under review was:
retail of children's footwear

Directors
The directors shown below have held office during the whole of the period from
01st April 2013 to 31st March 2014
Mrs J Shelbourne

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 16 September 2014
And Signed On Behalf Of The Board By:

Name: Mrs J Shelbourne
Status: Director

Profit and Loss Account

for the Period Ended 31st March 2014

	Notes	2014 £	2013 £
Turnover:		45,367	21,605
Cost of sales:		30,804	13,586
Gross profit or (loss):		14,563	8,019
Administrative expenses:	,	22,623	33,554
Operating profit or (loss):	2	( 8,060 )	( 25,535 )
Interest payable and similar charges:		1,375	1,675
Profit or (loss) on ordinary activities before taxation:		( 9,435 )	( 27,210 )
Profit or (loss) for the financial year:		( 9,435 )	( 27,210 )

The notes form part of these financial statements

Statement of total recognised gains and losses
31st March 2014

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report.

The notes form part of these financial statements

Balance sheet
As at 31st March 2014

	Notes	2014 £	2013 £
Fixed assets
Tangible assets:	3	1,715	2,435
Total fixed assets:		1,715	2,435
Current assets
Stocks:		16,944	16,474
Debtors:	4	3,214	4,040
Cash at bank and in hand:		420	481
Total current assets:		20,578	20,995
Creditors: amounts falling due within one year	5, 7, 8	23,885	22,155
Net current assets (liabilities):		( 3,307 )	( 1,160 )
Total assets less current liabilities:		( 1,592 )	1,275
Creditors: amounts falling due after more than one year:	6	44,202	37,634
Total net assets (liabilities):		( 45,794 )	( 36,359 )

The notes form part of these financial statements

Balance sheet
As at 31st March 2014
continued

	Notes	2014 £	2013 £
Capital and reserves
Called up share capital:	9	1	1
Profit and Loss account:	10	( 45,795 )	( 36,360 )
Total shareholders funds:		( 45,794 )	( 36,359 )

For the year ending 31 March 2014 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 16 September 2014

SIGNED ON BEHALF OF THE BOARD BY:

Name: Mrs J Shelbourne
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements
for the Period Ended 31st March 2014

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 January 2015).

Turnover policy

Turnover represents the value, net of value added tax and discounts, of goods provided to customers.

Tangible fixed assets depreciation policy

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Fixtures and fittings 25% reducing balance Computer equipment 25% straight line

Valuation information and policy

Stock is valued at the lower of cost and net realisable value

Other accounting policies

Going concern The director will continue to support the company. Deferred taxation Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Notes to the Financial Statements
for the Period Ended 31st March 2014

2 . Operating profit or (loss)

Operating profit or (loss) before tax as stated after charging the following.

	2014	2013
	£	£
Depreciation - owned assets:	720	854

Notes to the Financial Statements
for the Period Ended 31st March 2014

3. Tangible assets

	Land and buildings	Plant Machinery	Fixtures and fittings	Office Equipment	Motor vehicles	Total
Cost	£	£	£	£	£	£
At 01st April 2013:	-	-	2,315	1,304	-	3,619
At 31st March 2014:	-	-	2,315	1,304	-	3,619
Depreciation
At 01st April 2013:	-	-	738	446	-	1,184
Charge for year:	-	-	393	327	-	720
At 31st March 2014:	-	-	1,131	773	-	1,904
Net book value
At 31st March 2014:	-	-	1,184	531	-	1,715
At 31st March 2013:	-	-	1,577	858	-	2,435

Notes to the Financial Statements
for the Period Ended 31st March 2014

4. Debtors

	2014	2013
	£	£
Other debtors:	3,214	4,040
Total:	3,214	4,040

Notes to the Financial Statements
for the Period Ended 31st March 2014

5. Creditors: amounts falling due within one year

	2014	2013
	£	£
Bank loans and overdrafts:	3,411	3,155
Trade creditors:	7,166	6,655
Other creditors:	13,308	12,345
Total:	23,885	22,155

Included in other creditors is the balance on the director's current account £12,108 (2013 £11,145)

Notes to the Financial Statements
for the Period Ended 31st March 2014

6. Creditors: amounts falling due after more than one year

	2014	2013
	£	£
Bank loans:	14,202	17,634
Other creditors:	30,000	20,000
Total:	44,202	37,634

Included in other creditors is the balance on the director's loan account £30,000 (2013 £20,000)

Notes to the Financial Statements
for the Period Ended 31st March 2014

7. Borrowings

The following loans are included within creditors:

Repayable	2014	2013
	£	£
Within one year:	3,411	3,155
Between one and five years:	14,202	15,395
Over five years:	0	2,239
Total:	17,613	20,789

The bank loan is secured by personal guarantee given by the director.

Notes to the Financial Statements
for the Period Ended 31st March 2014

8. Operating lease commitments

Repayable	2014	2013
	£	£

At the year end the company had annual commitments under non-cancellable operating leases which expire in over five years of £10,000 (2013 £10,000)

Notes to the Financial Statements
for the Period Ended 31st March 2014

9. Called up share capital

Allotted, called up and paid

Previous period			2013
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	1	1.00 1.00	1
Total share capital:			1

Current period			2014
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	1	1.00 1.00	1
Total share capital:			1

Notes to the Financial Statements
for the Period Ended 31st March 2014

10. Profit and loss account

	2014	2013
	£	£
Opening balance:	( 36,360 )	( 9,150 )
Profit or (loss) for the period:	( 9,435 )	( 27,210 )
Equity dividends paid:	0	0
Retained profit:	( 45,795 )	( 36,360 )

LITTLE RED PLANET LTD Accounts filed on 31-03-2014