Play Resource Trading Co. Limited Filleted accounts for Companies House (small and micro)

PLAY RESOURCE TRADING CO. LIMITED - Company Information

false false false false false false false false false true true false false false false false false No description of principal activity 2018-04-01 Sage Accounts Production Advanced 2019 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP NI022019 2018-04-01 2019-03-31 NI022019 2019-03-31 NI022019 2018-03-31 NI022019 2017-04-01 2018-03-31 NI022019 2018-03-31 NI022019 core:FurnitureFittings 2018-04-01 2019-03-31 NI022019 bus:Director1 2018-04-01 2019-03-31 NI022019 core:FurnitureFittings 2018-03-31 NI022019 core:FurnitureFittings 2019-03-31 NI022019 core:WithinOneYear 2019-03-31 NI022019 core:WithinOneYear 2018-03-31 NI022019 core:AfterOneYear 2019-03-31 NI022019 core:AfterOneYear 2018-03-31 NI022019 core:ShareCapital 2019-03-31 NI022019 core:ShareCapital 2018-03-31 NI022019 core:RetainedEarningsAccumulatedLosses 2019-03-31 NI022019 core:RetainedEarningsAccumulatedLosses 2018-03-31 NI022019 core:FurnitureFittings 2018-03-31 NI022019 bus:SmallEntities 2018-04-01 2019-03-31 NI022019 bus:AuditExemptWithAccountantsReport 2018-04-01 2019-03-31 NI022019 bus:FullAccounts 2018-04-01 2019-03-31 NI022019 bus:SmallCompaniesRegimeForAccounts 2018-04-01 2019-03-31 NI022019 bus:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31 NI022019 core:ComputerEquipment 2018-04-01 2019-03-31 NI022019 core:ComputerEquipment 2018-03-31 NI022019 core:ComputerEquipment 2019-03-31 NI022019 core:UltimateParent 2018-04-01 2019-03-31 NI022019 core:UltimateParent 2019-03-31 NI022019 core:UltimateParent 2018-03-31

COMPANY REGISTRATION NUMBER: NI022019

Play Resource Trading Co. Limited

Filleted Unaudited Financial Statements

31 March 2019

Play Resource Trading Co. Limited

Statement of Financial Position

31 March 2019

	2019		2018
Note	£	£	£	£

Fixed assets

Tangible assets	4		6,335		850

Current assets

Stocks		27,988	32,211
Debtors	5	4,392	8,639
Cash at bank and in hand		73,430	69,893
		---------	---------
		105,810	110,743

Creditors: amounts falling due within one year	6	57,071		62,257
		---------		---------
Net current assets			48,739		48,486
			--------		--------
Total assets less current liabilities			55,074		49,336

Creditors: amounts falling due after more than one year	7		125		166

Provisions

Taxation including deferred tax	1,204	161
	--------	--------
Net assets	53,745	49,009
	--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	53,743	49,007
	--------	--------
Shareholders funds	53,745	49,009
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2019 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Play Resource Trading Co. Limited

Statement of Financial Position (continued)

31 March 2019

These financial statements were approved by the board of directors and authorised for issue on 30 September 2019 , and are signed on behalf of the board by:

Ms G McGarvey

Director

Company registration number: NI022019

Play Resource Trading Co. Limited

Notes to the Financial Statements

Year ended 31 March 2019

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is North City Business Centre, 2 Duncairn Gardens, Belfast, BT15 2GG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the going concern basis, under the historical cost convention and comply with the financial reporting standards of the Financial Reporting Council. The financial statements are prepared in sterling, which is the functional currency of the entity.

Debtors

Trade and other debtors including amounts owed by group companies are recognised initially at transaction price. A provision for impairment is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of receivables.

Cash and cash equivalents

Cash and equivalents include cash on hand and demand deposits. Bank overdrafts are shown within borrowings in current liabilities on the statement of financial position.

Creditors and accruals

Creditors and accruals are classified as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities. Trade payables are recognised initially at the transition price and subsequently at amortised cost.

Share capital

Ordinary shares are classified as equity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	15% reducing balance
Computer equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2018	21,016	38,715	59,731
Additions	–	5,750	5,750
	--------	--------	--------
At 31 March 2019	21,016	44,465	65,481
	--------	--------	--------
Depreciation
At 1 April 2018	20,339	38,542	58,881
Charge for the year	102	163	265
	--------	--------	--------
At 31 March 2019	20,441	38,705	59,146
	--------	--------	--------
Carrying amount
At 31 March 2019	575	5,760	6,335
	--------	--------	--------
At 31 March 2018	677	173	850
	--------	--------	--------

5. Debtors

	2019	2018
	£	£
Trade debtors	4,392	8,639
	-------	-------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	4,955	1,934
Amounts owed to group undertakings and undertakings in which the company has a participating interest	47,955	53,893
Corporation tax	69	77
Social security and other taxes	2,592	4,503
Other creditors	1,500	1,850
	--------	--------
	57,071	62,257
	--------	--------

Amounts owed to group undertakings are unsecured, interest free and repayable on demand .

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

	2019	2018
	£	£
Other creditors	125	166
	----	----

8. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2019	2018
	£	£

Recognised in creditors:

Deferred government grants due after more than one year	125	166
	----	----

Recognised in other operating income:

Government grants recognised directly in income	42	55
	----	----

9. Related party transactions

The company is a wholly owned subsidiary of Play Resource Warehouse Limited , a company registered in the UK under company number NI017853. The following amounts are due to connected parties:

	2019	2018
	£	£
Play Resource Warehouse Ltd	47,955	53,893