Playsmart Product Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08758472 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

PLAYSMART PRODUCT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

A J Johnston

Registered office:

5-6 Greenfield Crescent

Edgbaston

Birmingham

West Midlands

B15 3BE

Registered number:

08758472 (England and Wales)

Accountants:

Haines Watts Birmingham LLP

5-6 Greenfield Crescent

Edgbaston

Birmingham

B15 3BE

Fixed assets

Investments

3

260,298

260,298

Current assets

Cash at bank

402

338

Creditors

Amounts falling due within one year

4

260,510

239,687

Net current liabilities

(260,108

)

(239,349

)

Total assets less current liabilities

190

20,949

Creditors

Amounts falling due after more than one year

5

-

20,759

Net assets

190

190

Capital and reserves

Called up share capital

190

190

190

190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 11 December 2019 and were signed by:

A J Johnston - Director

1.	Statutory information

Playsmart Product Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 April 2018

and 31 March 2019

260,298

Net book value

At 31 March 2019

260,298

At 31 March 2018

260,298

4.

Creditors: amounts falling due within one year

2019

2018

£

£

Bank loans and overdrafts

10,540

10,200

Amounts owed to group undertakings

249,970

229,487

260,510

239,687

5.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Bank loans

-

10,630

Other creditors

-

10,129

-

20,759

6.	Secured debts

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

10,540

20,830

The bank loan is secured by a fixed and floating charge over the assets of the company.