Playmania Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05419983 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

PLAYMANIA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms A L Austin

Mrs G M Kirk

SECRETARY:

Ms A L Austin

REGISTERED OFFICE:

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

REGISTERED NUMBER:

05419983 (England and Wales)

ACCOUNTANTS:

Gibson Booth Limited

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

FIXED ASSETS

Tangible assets

4

20,045

19,958

CURRENT ASSETS

Stocks

5,861

9,566

Debtors

5

89,877

107,903

Cash at bank and in hand

110,133

91,129

205,871

208,598

CREDITORS

Amounts falling due within one year

6

134,856

115,042

NET CURRENT ASSETS

71,015

93,556

TOTAL ASSETS LESS CURRENT LIABILITIES

91,060

113,514

CREDITORS

Amounts falling due after more than one year

7

(42,500

)

-

PROVISIONS FOR LIABILITIES

(3,536

)

(3,460

)

NET ASSETS

45,024

110,054

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

45,022

110,052

SHAREHOLDERS' FUNDS

45,024

110,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 and authorised for issue by the Board of Directors and authorised for issue on 27 October 2021 and were signed on its behalf by:

Mrs G M Kirk - Director

1.	STATUTORY INFORMATION

Playmania 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis. At the time of approval, the UK economy was subject to the impact of the coronavirus pandemic outbreak, with lockdown restrictions imposed by the Government. Projections and forecasts have been prepared based on a number of underlying assumptions relating to, amongst others, the play facility operating capacity allowing for social distancing and best practice, which are subject to significant uncertainty at this time. These show that the expected income and expenditure, together with current reserves and the possibility of obtaining potential funding allows the company to continue as a going concern.

Significant judgements and estimates

No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

When the outcome of a transaction can be estimated reliably, turnover from the children's play facility is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the date when the play session is.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery

- 25% on reducing balance

Fixtures and fittings

- 25% on reducing balance

Equipment

- 25% on reducing balance

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 taxation

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2020 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Equipment

Totals

£

£

£

£

COST

At 1 May 2020

111,180

32,319

7,640

151,139

Additions

243

3,328

2,169

5,740

At 30 April 2021

111,423

35,647

9,809

156,879

DEPRECIATION

At 1 May 2020

97,919

26,423

6,839

131,181

Charge for year

3,326

1,903

424

5,653

At 30 April 2021

101,245

28,326

7,263

136,834

NET BOOK VALUE

At 30 April 2021

10,178

7,321

2,546

20,045

At 30 April 2020

13,261

5,896

801

19,958

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Other debtors

82,665

100,364

VAT

1,997

-

Prepayments and accrued income

5,215

7,539

89,877

107,903

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

7,500

-

Trade creditors

2,184

-

Corporation tax

-

18,364

Social security and other taxes

931

3,364

VAT

-

13,344

Directors' current accounts

64,307

17,768

Accruals and deferred income

59,934

62,202

134,856

115,042

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans - 1-2 years

10,000

-

Bank loans - 2-5 years

30,000

-

Bank loans more 5 yr by instal

2,500

-

42,500

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,500

-

8.	FINANCIAL COMMITMENTS

The total financial commitments which are not included in the balance sheet amount to £46,550 (2020 - £88,200).

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.21

30.4.20

value:

£

£

1

A Ordinary

£1

1

1

1

B Ordinary

£1

1

1

2

2