Company Registration No. 12079928 (England and Wales)
Second Chance Games Limited
Unaudited accounts
for the year ended 31 July 2022
Second Chance Games Limited
Unaudited accounts
Contents
Second Chance Games Limited
Company Information
for the year ended 31 July 2022
Directors
A A S Ashton
A H M Ashton
P A F Ashton
R A D Ashton
Company Number
12079928 (England and Wales)
Registered Office
62 EARLSTON ROAD
WALLASEY
CH45 5DZ
UNITED KINGDOM
Accountants
KLAS ACCOUNTANTS LTD
Eastham Hall
109, Eastham Village Road
Eastham
Wirral
CH62 0AF
Second Chance Games Limited
Statement of financial position
as at 31 July 2022
Tangible assets
6,101
9,435
Inventories
254,069
243,178
Cash at bank and in hand
151,137
152,341
Creditors: amounts falling due within one year
(383,417)
(379,687)
Net current assets
30,753
24,796
Called up share capital
100
100
Profit and loss account
36,754
34,131
Shareholders' funds
36,854
34,231
For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2022 and were signed on its behalf by
A H M Ashton
Director
Company Registration No. 12079928
Second Chance Games Limited
Notes to the Accounts
for the year ended 31 July 2022
Second Chance Games Limited is a private company, limited by shares, registered in England and Wales, registration number 12079928. The registered office is 62 EARLSTON ROAD, WALLASEY, CH45 5DZ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Computer equipment
33% Straight Line
Second Chance Games Limited
Notes to the Accounts
for the year ended 31 July 2022
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2021
11,001
1,768
12,769
At 31 July 2022
11,001
1,768
12,769
At 1 August 2021
2,750
584
3,334
Charge for the year
2,750
584
3,334
At 31 July 2022
5,500
1,168
6,668
At 31 July 2022
5,501
600
6,101
At 31 July 2021
8,251
1,184
9,435
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
76,680
76,606
Taxes and social security
18,696
20,105
Proposed dividends
60,000
50,000
Loans from directors
211,288
228,725
7
Average number of employees
During the year the average number of employees was 7 (2021: 7).
