Registered number
07962857
Cherrypop Games Limited
Filleted Accounts
28 February 2018
Cherrypop Games Limited
Registered number: 07962857
Balance Sheet
as at 28 February 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 3 222,273 52,424
Current assets
Debtors 4 46,788 117,290
Cash at bank and in hand 71,751 201,234
118,539 318,524
Creditors: amounts falling due within one year 5 (86,402) (155,874)
Net current assets 32,137 162,650
Net assets 254,410 215,074
Capital and reserves
Called up share capital 10 10
Profit and loss account 254,400 215,064
Shareholders' funds 254,410 215,074
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P D Jones
Director
Approved by the board on 13 November 2018
Cherrypop Games Limited
Notes to the Accounts
for the year ended 28 February 2018
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2017 75,000
At 28 February 2018 75,000
Amortisation
At 1 March 2017 75,000
At 28 February 2018 75,000
Net book value
At 28 February 2018 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
3 Tangible fixed assets
Development costs Plant and machinery etc Total
£ £ £
Cost
At 1 March 2017 922,716 27,140 949,856
Additions 321,285 7,808 329,093
At 28 February 2018 1,244,001 34,948 1,278,949
Depreciation
At 1 March 2017 882,566 14,866 897,432
Charge for the year 148,909 10,335 159,244
At 28 February 2018 1,031,475 25,201 1,056,676
Net book value
At 28 February 2018 212,526 9,747 222,273
At 28 February 2017 40,150 12,274 52,424
4 Debtors 2018 2017
£ £
Trade debtors 73,198 95,811
Other debtors (26,410) 21,479
46,788 117,290
5 Creditors: amounts falling due within one year 2018 2017
£ £
Trade creditors 14,919 12,771
Taxation and social security costs (26,324) (23,519)
Other creditors 97,807 166,622
86,402 155,874
6 Other information
Cherrypop Games Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Towers Lower Ground Floor
The Towers
The Towers Business Park
Wilmslow Road
Didsbury
Manchester
M20 2SL
Cherrypop Games Limited 07962857 false 2017-03-01 2018-02-28 2018-02-28 VT Final Accounts July 2018 Mr P D Jones No description of principal activity 07962857 core:WithinOneYear 2017-02-28 07962857 core:ShareCapital 2017-02-28 07962857 core:RetainedEarningsAccumulatedLosses 2017-02-28 07962857 2017-03-01 2018-02-28 07962857 bus:PrivateLimitedCompanyLtd 2017-03-01 2018-02-28 07962857 bus:AuditExemptWithAccountantsReport 2017-03-01 2018-02-28 07962857 bus:Director40 2017-03-01 2018-02-28 07962857 1 2017-03-01 2018-02-28 07962857 2 2017-03-01 2018-02-28 07962857 core:LandBuildings 2017-03-01 2018-02-28 07962857 core:PlantMachinery 2017-03-01 2018-02-28 07962857 countries:England 2017-03-01 2018-02-28 07962857 bus:FRS102 2017-03-01 2018-02-28 07962857 bus:FullAccounts 2017-03-01 2018-02-28 07962857 2018-02-28 07962857 core:WithinOneYear 2018-02-28 07962857 core:ShareCapital 2018-02-28 07962857 core:RetainedEarningsAccumulatedLosses 2018-02-28 07962857 core:Goodwill 2018-02-28 07962857 core:LandBuildings 2018-02-28 07962857 core:PlantMachinery 2018-02-28 07962857 2017-02-28 07962857 core:Goodwill 2017-02-28 07962857 core:LandBuildings 2017-02-28 07962857 core:PlantMachinery 2017-02-28 iso4217:GBP