Signplay Limited - Period Ending 2018-10-31

Registration number: 04207080

Signplay Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2018

Pacific Limited
Chartered Accountants
1st Floor, Woburn House
84 St Benedicts Street
Norwich
Norfolk,
NR2 4AB

Signplay Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 9

Signplay Limited

Company Information

Directors

L D Aarons D J Aarons G D Atkinson G A Francis

Registered office

Unit P Loddon Industrial Estate Loddon Norwich Norfolk NR14 6JD

Accountants

Pacific Limited Chartered Accountants 1st Floor, Woburn House 84 St Benedicts Street Norwich Norfolk, NR2 4AB

	Page 1
	Pacific Limited, 1st Floor Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB

Signplay Limited

(Registration number: 04207080)
Balance Sheet as at 31 October 2018

	Note	2018 £	2017 £
Fixed assets
Intangible assets	4	2,016	3,240
Tangible assets	5	38,393	46,160
Investments	6	2	2
		40,411	49,402
Current assets
Debtors	7	79	1,917,638
Cash at bank and in hand		126,081	202,820
		126,160	2,120,458
Creditors: Amounts falling due within one year	8	(25,897)	(33,526)
Net current assets		100,263	2,086,932
Total assets less current liabilities		140,674	2,136,334
Creditors: Amounts falling due after more than one year	8	(13,539)	(101,037)
Net assets		127,135	2,035,297
Capital and reserves
Called up share capital	9	1,857	1,775
Share premium reserve		2,584,770	2,159,804
Advance subscription reserve		200,000	-
Profit and loss account		(2,659,492)	(126,282)
Total equity		127,135	2,035,297

The notes on pages 4 to 9 form an integral part of these financial statements.

	Page 2
	Pacific Limited, 1st Floor Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB

Signplay Limited

(Registration number: 04207080)
Balance Sheet as at 31 October 2018

For the financial year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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.

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 Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 July 2019 and signed on its behalf by:

......................................... L D Aarons Director

......................................... D J Aarons Director

The notes on pages 4 to 9 form an integral part of these financial statements.

	Page 3
	Pacific Limited, 1st Floor Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit P
Loddon Industrial Estate
Loddon
Norwich
Norfolk
NR14 6JD

2	Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention 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.

The presentation currency is sterling.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and equipment	20% straight line

Investments

Investments in shares are measured at fair value. Changes in fair value are recognised in the profit and loss account.

	Page 4
	Pacific Limited, 1st Floor Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2018

Leasing and hire purchase contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. 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 a constant periodic rate of charge on the net obligation outstanding in each period.

 

Intangible assets

Intangible assets are stated at cost, less any subsequent accumulated amortisation and accumulated impairment losses

Amortisation

Amortisation is charged so as to write off the cost of intangibles less their residual values over their estimated useful lives, as follows:
 

Asset class	Amortisation method and rate
Patent costs	over 5 years

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.
.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

	Page 5
	Pacific Limited, 1st Floor Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2018

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.

3	Staff numbers

The average number of persons employed by the company during the year was 0 (2017 - 0).

4	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost
At 1 November 2017	6,659	6,659
At 31 October 2018	6,659	6,659
Amortisation
At 1 November 2017	3,419	3,419
Amortisation charge	1,224	1,224
At 31 October 2018	4,643	4,643
Net book value
At 31 October 2018	2,016	2,016
At 31 October 2017	3,240	3,240

	Page 6
	Pacific Limited, 1st Floor Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2018

5	Tangible assets

	Plant and equipment  £	Total £
Cost
At 1 November 2017	46,160	46,160
Additions	1,710	1,710
At 31 October 2018	47,870	47,870
Depreciation
Charge for the year	9,477	9,477
At 31 October 2018	9,477	9,477
Net book value
At 31 October 2018	38,393	38,393
At 31 October 2017	46,160	46,160

6	Investments

	2018 £	2017 £
Investments in subsidiaries	2	2

 

Subsidiaries	£
Cost
At 1 November 2017	2
Net book value
At 31 October 2018	2
At 31 October 2017	2

The shares in the subsidiary were acquired on 30 October 2001 at a cost of £2 and the directors do not believe there is any change to this value at the balance sheet date.

	Page 7
	Pacific Limited, 1st Floor Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2018

7

Debtors

	Note	2018 £	2017 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	10	-	1,917,534
Other debtors		79	104
Less non-current portion		-	(1,917,534)
		79	104

Details of non-current trade and other debtors

£Nil (2017 -£1,917,534) of amounts owed by group undertakings is classified as non current.

8

Creditors

Creditors: amounts falling due within one year

		2018 £	2017 £
HP liability		12,497	23,955
Trade creditors		5,306	1,447
Accruals and deferred income		1,940	1,970
Other loans		6,154	6,154
		25,897	33,526

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £12,497 (2017 - £23,955).

Creditors: amounts falling due after more than one year

	2018 £	2017 £
Due after one year
HP liability	13,539	26,037
Other loans	-	75,000
	13,539	101,037

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £13,539 (2017 - £26,037).

	Page 8
	Pacific Limited, 1st Floor Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2018

9	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £0.01 each	185,678	1,856.78	177,504	1,775.04

10	Related party transactions

Summary of transactions with subsidiaries

D J Aarons, L D Aarons and G D Atkinson are directors of Select Innovations Limited, a wholly owned subsidiary of Signplay Limited.

 During the year the company made advances to Select Innovations Limited in the sum of £581,847 (2017 - £758,064) . The amount due from Select Innovations Limited was £2,499,381 (2017 - £1,917,534), this has been irrevocably waived and therefore written off in the profit and loss account.
 

Summary of transactions with other related parties

D J Aarons and L D Aarons are directors of and shareholders in Select Software Limited
 National Westminster Bank PLC hold a debenture dated 11 October 2011 giving fixed and floating charges over all of the assets of Signplay Limited as security for Select Software Limited's liabilities with the bank. At the balance sheet date the amount owed to National Westminster Bank PLC by Select Software Limited was £644 (2017 - £8,365).


 

	Page 9
	Pacific Limited, 1st Floor Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB