Playle-Russell (Special Risks) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03779860 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2019

FOR

PLAYLE-RUSSELL (SPECIAL RISKS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr R E Playle

Mrs L C Playle

SECRETARY:

Mrs C L Playle

REGISTERED OFFICE:

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

BUSINESS ADDRESS:

The Boldre Suite

Ashurst Lodge

Ashurst

Southampton

Hampshire

SO40 7AA

REGISTERED NUMBER:

03779860 (England and Wales)

FIXED ASSETS

Tangible assets

5

1,794

1,511

Investment property

6

300,000

245,821

301,794

247,332

CURRENT ASSETS

Debtors

7

53,108

73,324

Cash at bank and in hand

890,786

770,568

943,894

843,892

CREDITORS

Amounts falling due within one year

8

397,597

370,817

NET CURRENT ASSETS

546,297

473,075

TOTAL ASSETS LESS CURRENT LIABILITIES

848,091

720,407

PROVISIONS FOR LIABILITIES

7,449

-

NET ASSETS

840,642

720,407

CAPITAL AND RESERVES

Called up share capital

9

10

10

Fair value reserve

10

47,071

-

Retained earnings

793,561

720,397

SHAREHOLDERS' FUNDS

840,642

720,407

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

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

The directors acknowledge their 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 Board of Directors on 26 February 2020 and were signed on its behalf by:

Mr R E Playle - Director

1.	STATUTORY INFORMATION

Playle-Russell (Special Risks) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents general insurance brokerage commissions arising on the arrangement of insurance

contracts by the Company. Alterations in amounts receivable arising from returns and additional premiums and

adjustments are recognised as they occur.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

Straight line over 3 years

All fixed assets are initially recorded at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company contributes to a defined contribution pension scheme. Contributions payable to the pension

scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2018

3,887

16,634

20,521

Additions

265

1,484

1,749

Disposals

(3,368

)

(9,592

)

(12,960

)

At 31 May 2019

784

8,526

9,310

DEPRECIATION

At 1 June 2018

3,047

15,963

19,010

Charge for year

126

583

709

Eliminated on disposal

(2,845

)

(9,358

)

(12,203

)

At 31 May 2019

328

7,188

7,516

NET BOOK VALUE

At 31 May 2019

456

1,338

1,794

At 31 May 2018

840

671

1,511

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2018

245,821

Revaluations

54,179

At 31 May 2019

300,000

NET BOOK VALUE

At 31 May 2019

300,000

At 31 May 2018

245,821

Fair value at 31 May 2019 is represented by:

£

Valuation in 2019

54,179

Cost

245,821

300,000

The investment property was revalued at 31st May 2019 by the directors. The valuation reflected in the financial

statements is based upon the fair value of the company's interest in the investment property.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

47,284

73,149

Other debtors

5,824

175

53,108

73,324

Included in other debtors is £5,824 (2018: £175) in relation to prepayments and accrued income.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

303,892

314,280

Taxation and social security

59,162

50,626

Other creditors

34,543

5,911

397,597

370,817

Included in other creditors is £2,650 (2018: £2,520) in relation to accruals and deferred income.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

10

Ordinary

£1

10

10

10.

RESERVES

Fair

value

reserve

£

Revaluation transfer to fair value reserve

54,179

Deferred tax transfer to fair value reserve

(7,108

)

At 31 May 2019

47,071

11.	OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet

amount to £19,844 (2018: £29,766). This amount is in relation to operating lease commitments which are

payable over the next 2 years.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2019 and

31 May 2018:

2019

2018

£

£

Mr R E Playle and Mrs L C Playle

Balance outstanding at start of year

-

-

Amounts advanced

131,723

-

Amounts repaid

(131,723

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

This loan was unsecured and repaid in full during the year. Interest was charged on overdrawn balances at HM

Revenue and Customs approved rates.