PLAYCATION LIMITED |
Notes to the Accounts |
for the year ended 30 September 2021 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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2 |
Employees |
2021 |
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2020 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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3 |
Debtors |
2021 |
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2020 |
£ |
£ |
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Trade debtors |
- |
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2,219 |
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Other debtors |
579 |
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579 |
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579 |
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2,798 |
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4 |
Creditors: amounts falling due within one year |
2021 |
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2020 |
£ |
£ |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
150,398 |
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150,569 |
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Taxation and social security costs |
- |
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176 |
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Other creditors |
200 |
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400 |
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150,598 |
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151,145 |
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5 |
Related party transactions |
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The company was under the control of Mr M Barlow throughout the current year through his |
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interest in the parent company Keetoms Holding Limited |
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Included in other crititors are loans of £145169 (2019 £150569) from Keetons Holdings Limited. |
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The loans are unsecured not interest bearing and repayable on demand. |
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7 |
Directors advances, creditors and guarantees |
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Included on other debtors are loans of £463 (2019) £463 to Mr M Barlow, a director. The loans are |
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non interest bearing, unsecured and repayable on demand. |
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5 |
Other information |
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PLAYCATION LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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1 Keetons Hill |
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Sheffield |
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South Yorkshire |
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S2 4NW |
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The parent company is Keetons Holdings Limited, a company registered in the United Kingdom. |