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

REGISTERED NUMBER: 03779860 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1ST JUNE 2020 TO 27TH MAY 2021

FOR

PLAYLE-RUSSELL (SPECIAL RISKS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R W Willis

Mr D J Boyd

Mr C R Willis

Mr M A Willis

Mr S J Willis

REGISTERED OFFICE:

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

REGISTERED NUMBER:

03779860 (England and Wales)

FIXED ASSETS

Tangible assets

5

1,130

3,774

Investment property

6

-

300,000

1,130

303,774

CURRENT ASSETS

Debtors

7

81,918

57,155

Cash at bank and in hand

307,355

962,798

389,273

1,019,953

CREDITORS

Amounts falling due within one year

8

231,706

347,255

NET CURRENT ASSETS

157,567

672,698

TOTAL ASSETS LESS CURRENT LIABILITIES

158,697

976,472

PROVISIONS FOR LIABILITIES

917

7,825

NET ASSETS

157,780

968,647

CAPITAL AND RESERVES

Called up share capital

9

10

10

Fair value reserve

10

-

47,071

Retained earnings

157,770

921,566

SHAREHOLDERS' FUNDS

157,780

968,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27th May 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 27th May 2021 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 and authorised for issue on 6th September 2021 and were signed on its behalf by:

Mr R W Willis - 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, fittings and equipment

-

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 period 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 period 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 period was 4 (2020 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

and

Computer

equipment

equipment

Totals

£

£

£

COST

At 1st June 2020

2,223

8,025

10,248

Additions

-

431

431

Disposals

(2,223

)

(3,203

)

(5,426

)

At 27th May 2021

-

5,253

5,253

DEPRECIATION

At 1st June 2020

522

5,952

6,474

Charge for period

213

918

1,131

Eliminated on disposal

(735

)

(2,747

)

(3,482

)

At 27th May 2021

-

4,123

4,123

NET BOOK VALUE

At 27th May 2021

-

1,130

1,130

At 31st May 2020

1,701

2,073

3,774

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st June 2020

300,000

Disposals

(264,503

)

Revaluations

(35,497

)

At 27th May 2021

-

NET BOOK VALUE

At 27th May 2021

-

At 31st May 2020

300,000

The investment property was revalued during the year by the directors to £264,503. It was subsequently distributed as a dividend in specie on 16th March 2021.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

42,712

54,852

Other debtors

39,206

2,303

81,918

57,155

Included in other debtors is £1,098 (2020: £2,303) in relation to prepayments and accrued income.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

166,358

295,912

Taxation and social security

57,182

46,599

Other creditors

8,166

4,744

231,706

347,255

Included in other creditors is £7,957 (2020: £2,783) in relation to accruals and deferred income.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

8

Ordinary A

£1

8

8

2

Ordinary B

£1

2

2

10

10

10.

RESERVES

Fair

value

reserve

£

At 1st June 2020

47,071

Fair value reserve transfer - Revaluation

(35,497

)

Realised gain

(11,574

)

At 27th May 2021

-

11.	OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £4,319 (2020: £15,013). 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 period ended 27th May 2021 and the year ended 31st May 2020:

2021

2020

£

£

Mr R E Playle and Mrs L C Playle

Balance outstanding at start of period

-

-

Amounts advanced

47,003

68,490

Amounts repaid

-

(68,490

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

47,003

-

This loan was unsecured with interest was charged on overdrawn balances at HM Revenue and Customs approved rates. This loan was repaid in full on 12th July 2021.