Signplay Limited - Period Ending 2019-10-31

Signplay Limited

(Registration number: 04207080)
Balance Sheet as at 31 October 2019

	Note	2019 £	2018 £
Fixed assets
Intangible assets	4	792	2,016
Tangible assets	5	58,819	38,393
Investments	6	2	2
		59,613	40,411
Current assets
Debtors	7	492,536	79
Cash at bank and in hand		24,451	126,081
		516,987	126,160
Creditors: Amounts falling due within one year	8	(21,952)	(25,897)
Net current assets		495,035	100,263
Total assets less current liabilities		554,648	140,674
Creditors: Amounts falling due after more than one year	8	-	(13,539)
Net assets		554,648	127,135
Capital and reserves
Called up share capital	9	1,857	1,857
Share premium reserve		2,584,770	2,584,770
Advance subscription reserve		650,000	200,000
Profit and loss account		(2,681,979)	(2,659,492)
Total equity		554,648	127,135

Signplay Limited

(Registration number: 04207080)
Balance Sheet as at 31 October 2019

For the financial year ending 31 October 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 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 16 July 2020 and signed on its behalf by:

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

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2019

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 over their estimated useful lives, as follows:

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

Investments

Investments in shares in subsidiaries are measured at cost less impairment.

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2019

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

Cash comprises cash on hand and all deposits.

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. 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 at the transaction price.

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2019

3	Staff numbers

The average number of persons employed by the company during the year was 0 (2018 - 0).

4	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost
At 1 November 2018	6,659	6,659
At 31 October 2019	6,659	6,659
Amortisation
At 1 November 2018	4,643	4,643
Amortisation charge	1,224	1,224
At 31 October 2019	5,867	5,867
Net book value
At 31 October 2019	792	792
At 31 October 2018	2,016	2,016

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2019

5	Tangible assets

	Plant and equipment  £	Total £
Cost
At 1 November 2018	47,870	47,870
Additions	30,000	30,000
At 31 October 2019	77,870	77,870
Depreciation
At 1 November 2018	9,477	9,477
Charge for the year	9,574	9,574
At 31 October 2019	19,051	19,051
Net book value
At 31 October 2019	58,819	58,819
At 31 October 2018	38,393	38,393

6	Investments

	2019 £	2018 £
Investments in subsidiaries	2	2

 

Subsidiaries	£
Cost
At 1 November 2018	2
Net book value
At 31 October 2019	2
At 31 October 2018	2

The shares in the subsidiary were acquired on 30 October 2001 at a cost of £2.

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2019

7

Debtors

	Note	2019 £	2018 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	10	492,448	-
Other debtors		88	79
		492,536	79

Details of non-current trade and other debtors

£492,448 (2018 -£Nil) of amounts owed by group undertakings is classified as non current.

8

Creditors

Creditors: amounts falling due within one year

		2019 £	2018 £
HP liability		13,539	12,497
Trade creditors		514	5,306
Accruals and deferred income		1,745	1,940
Other loans		6,154	6,154
		21,952	25,897

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £13,539 (2018 - £12,497).

Creditors: amounts falling due after more than one year

	2019 £	2018 £
Due after one year
HP liability	-	13,539
	-	13,539

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £Nil (2018 - £13,539).

Signplay Limited

Notes to the Financial Statements for the Year Ended 31 October 2019

9	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £0.01 each	185,678	1,856.78	185,678	1,856.78

10	Related party transactions

The directors are also 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 £492,448 (2018 - £581,847) . The amount due from Select Innovations Limited was £492,448 (2018 - £Nil). The balance at 31 October 2018 was irrevocably waived and written off in the profit and loss account.
 
On 18 October 2019 Select Innovations Limited sold assets to the company at a market value of £30,000.

Summary of transactions with other related parties

The directors are also 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 £Nil (2018 - £644).