Theraplay Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC098839 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Theraplay Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I A Macdonald

G R Macdonald

I O Macdonald

SECRETARY:

G R Macdonald

REGISTERED OFFICE:

32 Welbeck Road

Darnley Industrial Estate

Glasgow

G53 7SD

REGISTERED NUMBER:

SC098839 (Scotland)

ACCOUNTANTS:

McLay, McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

2

69,781

81,538

CURRENT ASSETS

Stocks

65,311

86,389

Debtors

94,863

162,727

Cash at bank and in hand

170,618

140,644

330,792

389,760

CREDITORS

Amounts falling due within one year

3

(75,268

)

(162,431

)

NET CURRENT ASSETS

255,524

227,329

TOTAL ASSETS LESS CURRENT
LIABILITIES

325,305

308,867

CREDITORS

Amounts falling due after more than one
year

3

(4,457

)

(12,844

)

PROVISIONS FOR LIABILITIES

(6,617

)

(8,732

)

NET ASSETS

314,231

287,291

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

314,131

287,191

SHAREHOLDERS' FUNDS

314,231

287,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23 September 2016 and were signed on its behalf
by:

G R Macdonald - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods excluding value added tax. The turnover and profit before

taxation are attributable to the one principal activity of the company.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date, where transactions or events that result in an obligation to pay more or a right to pay less tax in the

future have occurred by the balance sheet date with certain limited exceptions.

Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available

against which the temporary timing differences can be utilised.

Deferred tax is calculated on a non-discounted basis at the tax rates that are expected to apply in the periods in

which the timing differences are expected to reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

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 operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Grants

Grants are credited to other income. Grants toward capital expenditure are released to the profit and loss account

over the expected useful life of the assets.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

156,494

DEPRECIATION

At 1 April 2015

74,956

Charge for year

11,757

At 31 March 2016

86,713

NET BOOK VALUE

At 31 March 2016

69,781

At 31 March 2015

81,538

3.

CREDITORS

Creditors include an amount of £ 12,844 (31.3.15 - £ 21,231 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

100

Ordinary shares

£1

100

5.	ULTIMATE CONTROLLING PARTY

The company is under the control of the director Mr I.O Macdonald.