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REGISTERED NUMBER: NI602524 (Northern Ireland)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 May 2022

for

Funky Monkeys Playcentres Ltd

Funky Monkeys Playcentres Ltd (Registered number: NI602524)






Contents of the Consolidated Financial Statements
for the Year Ended 31 May 2022




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 17


Funky Monkeys Playcentres Ltd

Company Information
for the Year Ended 31 May 2022







DIRECTORS: M Simpson
Mrs A Simpson
H Moore





REGISTERED OFFICE: 9 Castlewellan Road
Rathfriland
Co. Down
BT34 5LY





REGISTERED NUMBER: NI602524 (Northern Ireland)





AUDITORS: Farrell & Farrell
35 Main St
Hilltown
Newry
Co. Down
BT34 5UJ

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Group Strategic Report
for the Year Ended 31 May 2022

The directors present their strategic report of the company and the group for the year ended 31 May 2022.

REVIEW OF BUSINESS
The results for the period and the financial position at the period end were considered satisfactory by the directors.

PRINCIPAL RISKS AND UNCERTAINTIES
The group's operations expose it to a variety of financial risks that include currency risk and liquidity risk. The group has in place a risk management programme that seeks to limit adverse effects in its financial performance. The policies set out by the directors are implemented by the company's management team.

ON BEHALF OF THE BOARD:





M Simpson - Director


24 November 2023

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Report of the Directors
for the Year Ended 31 May 2022

The directors present their report with the financial statements of the company and the group for the year ended 31 May 2022.

DIVIDENDS
The total distribution of dividends paid during the year ended 31 May 2022 was £255,000.

FUTURE DEVELOPMENTS
The group plans to continue its present activities and current trading levels. Employees are kept as fully informed as practicable about developments within the business.

The group is committed to pursuing equality and diversity in all its employment activities to ensure that the recruitment, training, career development and promotion of disabled persons should as far as possible be identical to that of other employees.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2021 to the date of this report.

M Simpson
Mrs A Simpson
H Moore

FINANCIAL INSTRUMENTS
Financial risk management objectives and policies
The group uses financial instruments throughout its business. The core risks associated with the group's financial instruments are currency risk and liquidity risk. The board reviews and agrees policies for the prudent management of these risks as follows:

Currency risk
The group's objective is to minimise the impact of currency volatility and fluctuations. Variances affecting operational activities in this regard are reflected in operating costs in the profit and loss account in the years in which they arise. The group manages, where practical and cost effective, to partially hedge the foreign currency impact.

Liquidity and cash flow risk
The group's objective is to maintain a balance between the continuity of funding and flexibility through the use of borrowings with a range of maturities when necessary. The group's policy is to ensure that sufficient resources are available either from cash balances, cash flows and near cash liquid investments to ensure all obligations can be met when they fall due.

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Report of the Directors
for the Year Ended 31 May 2022


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Farrell & Farrell, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M Simpson - Director


24 November 2023

Report of the Independent Auditors to the Members of
Funky Monkeys Playcentres Ltd

Opinion
We have audited the financial statements of Funky Monkeys Playcentres Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 2022 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 May 2022 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Funky Monkeys Playcentres Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Funky Monkeys Playcentres Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jayme Farrell (Senior Statutory Auditor)
for and on behalf of Farrell & Farrell
35 Main St
Hilltown
Newry
Co. Down
BT34 5UJ

24 November 2023

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Consolidated Income Statement
for the Year Ended 31 May 2022

2022 2021
Notes £    £   

TURNOVER 10,874,261 1,290,574

Cost of sales 1,530,575 196,449
GROSS PROFIT 9,343,686 1,094,125

Administrative expenses 7,281,387 3,407,809
2,062,299 (2,313,684 )

Other operating income 1,187,464 2,926,980
OPERATING PROFIT 4 3,249,763 613,296

Interest receivable and similar income - 1
3,249,763 613,297

Interest payable and similar expenses 5 463,238 420,285
PROFIT BEFORE TAXATION 2,786,525 193,012

Tax on profit 6 577,588 (103,924 )
PROFIT FOR THE FINANCIAL YEAR 2,208,937 296,936
Profit attributable to:
Owners of the parent 2,208,937 296,936

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Consolidated Other Comprehensive Income
for the Year Ended 31 May 2022

2022 2021
Notes £    £   

PROFIT FOR THE YEAR 2,208,937 296,936


OTHER COMPREHENSIVE INCOME
Consolidation translation 2,233 1,985
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

2,233

1,985
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,211,170

298,921

Total comprehensive income attributable to:
Owners of the parent 2,211,170 298,921

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Consolidated Balance Sheet
31 May 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 37,131 50,772
Tangible assets 10 6,239,733 6,128,939
Investments 11 - -
6,276,864 6,179,711

CURRENT ASSETS
Stocks 12 199,610 93,114
Debtors 13 1,446,266 1,146,129
Cash at bank and in hand 2,289,885 718,764
3,935,761 1,958,007
CREDITORS
Amounts falling due within one year 14 4,557,865 3,458,009
NET CURRENT LIABILITIES (622,104 ) (1,500,002 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,654,760

4,679,709

CREDITORS
Amounts falling due after more than one
year

15

(3,956,878

)

(5,108,863

)

PROVISIONS FOR LIABILITIES 19 (170,862 ) -
NET ASSETS/(LIABILITIES) 1,527,020 (429,154 )

CAPITAL AND RESERVES
Called up share capital 20 66 66
Retained earnings 21 1,526,954 (429,220 )
SHAREHOLDERS' FUNDS 1,527,020 (429,154 )

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by:




M Simpson - Director



Mrs A Simpson - Director


Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Company Balance Sheet
31 May 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 24,504 36,051
Tangible assets 10 156,195 158,006
Investments 11 586 586
181,285 194,643

CURRENT ASSETS
Stocks 12 6,192 3,612
Debtors 13 1,995,080 905,309
Cash at bank 47,912 4,429
2,049,184 913,350
CREDITORS
Amounts falling due within one year 14 720,325 454,496
NET CURRENT ASSETS 1,328,859 458,854
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,510,144

653,497

CREDITORS
Amounts falling due after more than one
year

15

1,392,355

773,451
NET ASSETS/(LIABILITIES) 117,789 (119,954 )

CAPITAL AND RESERVES
Called up share capital 20 66 66
Retained earnings 117,723 (120,020 )
SHAREHOLDERS' FUNDS 117,789 (119,954 )

Company's profit/(loss) for the financial year 492,743 (144,507 )

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by:




Mrs A Simpson - Director



M Simpson - Director


Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Consolidated Statement of Changes in Equity
for the Year Ended 31 May 2022

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 June 2020 66 (728,141 ) (728,075 )

Changes in equity
Total comprehensive income - 298,921 298,921
Balance at 31 May 2021 66 (429,220 ) (429,154 )

Changes in equity
Dividends - (255,000 ) (255,000 )
Total comprehensive income - 2,211,170 2,211,170
Balance at 31 May 2022 66 1,526,950 1,527,016

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Company Statement of Changes in Equity
for the Year Ended 31 May 2022

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 June 2020 66 24,487 24,553

Changes in equity
Total comprehensive income - (144,507 ) (144,507 )
Balance at 31 May 2021 66 (120,020 ) (119,954 )

Changes in equity
Dividends - (255,000 ) (255,000 )
Total comprehensive income - 492,743 492,743
Balance at 31 May 2022 66 117,723 117,789

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Consolidated Cash Flow Statement
for the Year Ended 31 May 2022

2022 2021
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,555,987 1,365,432
Interest paid (442,564 ) (395,252 )
Interest element of hire purchase payments
paid

(20,674

)

(25,033

)
Tax paid (11,734 ) 12,751
Net cash from operating activities 4,081,015 957,898

Cash flows from investing activities
Purchase of tangible fixed assets (1,218,108 ) (1,764,079 )
Sale of tangible fixed assets 7,337 7,540
Interest received - 1
Net cash from investing activities (1,210,771 ) (1,756,538 )

Cash flows from financing activities
New loans in year 567,535 1,617,597
Loan repayments in year (1,555,488 ) (85,694 )
Capital repayments in year (131,471 ) (111,858 )
Amount introduced by directors 1 -
Amount withdrawn by directors 55,753 (241,900 )
Equity dividends paid (255,000 ) -
Net cash from financing activities (1,318,670 ) 1,178,145

Increase in cash and cash equivalents 1,551,574 379,505
Cash and cash equivalents at beginning of
year

2

716,908

241,110
Effect of foreign exchange rate changes 20,258 96,293
Cash and cash equivalents at end of year 2 2,288,740 716,908

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 May 2022

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2022 2021
£    £   
Profit before taxation 2,786,525 193,012
Depreciation charges 1,093,016 890,703
Loss on disposal of fixed assets 2,576 197,474
Finance costs 463,238 420,285
Finance income - (1 )
4,345,355 1,701,473
Increase in stocks (106,496 ) (5,007 )
Increase in trade and other debtors (454,875 ) (387,823 )
Increase in trade and other creditors 772,003 56,789
Cash generated from operations 4,555,987 1,365,432

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 May 2022
31/5/22 1/6/21
£    £   
Cash and cash equivalents 2,289,885 718,764
Bank overdrafts (1,145 ) (1,856 )
2,288,740 716,908
Year ended 31 May 2021
31/5/21 1/6/20
£    £   
Cash and cash equivalents 718,764 372,924
Bank overdrafts (1,856 ) (131,814 )
716,908 241,110


Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 May 2022

3. ANALYSIS OF CHANGES IN NET DEBT

At 1/6/21 Cash flow At 31/5/22
£    £    £   
Net cash
Cash at bank and in hand 718,764 1,571,121 2,289,885
Bank overdrafts (1,856 ) 711 (1,145 )
716,908 1,571,832 2,288,740
Debt
Finance leases (403,759 ) 131,471 (272,288 )
Debts falling due within 1 year (1,757,293 ) (16,873 ) (1,774,166 )
Debts falling due after 1 year (4,846,466 ) 1,004,832 (3,841,634 )
(7,007,518 ) 1,119,430 (5,888,088 )
Total (6,290,610 ) 2,691,262 (3,599,348 )

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements
for the Year Ended 31 May 2022

1. STATUTORY INFORMATION

Funky Monkeys Playcentres Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The group financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 May 2022.

Subsidiary undertakings are included using the acquisitions method of accounting. Under this method the group profit and loss account and statement of cashflows include the results and cashflows of subsidiaries from the date of acquisition. The subsidiary undertaking is translated using the closing rate method.

The financial statements have been prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of fourteen years.

Computer software is being amortised evenly over its estimated useful life of three years.

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
Improvements to property - 10% on cost and Straight line over 15 years
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

2. ACCOUNTING POLICIES - continued
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 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2022 2021
£    £   
Wages and salaries 3,112,756 1,349,883
Social security costs 205,995 70,804
Other pension costs 29,267 18,130
3,348,018 1,438,817

The average number of employees during the year was as follows:
2022 2021

Administration 301 124

2022 2021
£    £   
Directors' remuneration 254,705 31,010

Information regarding the highest paid director for the year ended 31 May 2022 is as follows:
2022
£   
Emoluments etc 85,060

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

4. OPERATING PROFIT

The operating profit is stated after charging:

2022 2021
£    £   
Hire of plant and machinery 8,100 2,786
Other operating leases 1,071,009 110,465
Depreciation - owned assets 1,006,809 790,212
Depreciation - assets on hire purchase contracts 72,567 86,830
Loss on disposal of fixed assets 2,576 197,474
Patents and licences amortisation 13,600 13,600
Computer software amortisation 40 60
Auditors' remuneration 7,000 6,500
Foreign exchange differences 23,159 46,767

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2022 2021
£    £   
Bank interest - 52
Loan interest 442,564 395,200
Hire purchase interest 20,674 25,033
463,238 420,285

6. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2022 2021
£    £   
Current tax:
UK corporation tax 307,765 24,919

Deferred tax 269,823 (128,843 )
Tax on profit 577,588 (103,924 )

Tax effects relating to effects of other comprehensive income

2022
Gross Tax Net
£    £    £   
Consolidation translation 2,233 - 2,233

2021
Gross Tax Net
£    £    £   
Consolidation translation 1,985 - 1,985

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2022 2021
£    £   
Ordinary Share Capital shares of £1 each
Interim 255,000 -

9. INTANGIBLE FIXED ASSETS

Group
Patents
and Computer
licences software Totals
£    £    £   
COST
At 1 June 2021
and 31 May 2022 180,390 1,939 182,329
AMORTISATION
At 1 June 2021 129,741 1,817 131,558
Amortisation for year 13,600 40 13,640
At 31 May 2022 143,341 1,857 145,198
NET BOOK VALUE
At 31 May 2022 37,049 82 37,131
At 31 May 2021 50,649 122 50,771

Company
Patents
and Computer
licences software Totals
£    £    £   
COST
At 1 June 2021
and 31 May 2022 159,454 1,939 161,393
AMORTISATION
At 1 June 2021 123,525 1,817 125,342
Amortisation for year 11,507 40 11,547
At 31 May 2022 135,032 1,857 136,889
NET BOOK VALUE
At 31 May 2022 24,422 82 24,504
At 31 May 2021 35,929 122 36,051

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

10. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 June 2021 151,033 3,549,196 4,215,573
Additions - 308,768 649,891
Disposals - (1,150 ) (5,880 )
Exchange differences - (12,938 ) (11,390 )
At 31 May 2022 151,033 3,843,876 4,848,194
DEPRECIATION
At 1 June 2021 6,803 870,376 1,361,038
Charge for year 3,020 345,823 615,459
Eliminated on disposal - (194 ) (768 )
Exchange differences - (3,594 ) (3,829 )
At 31 May 2022 9,823 1,212,411 1,971,900
NET BOOK VALUE
At 31 May 2022 141,210 2,631,465 2,876,294
At 31 May 2021 144,230 2,678,820 2,854,535

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2021 607,751 19,800 184,917 8,728,270
Additions 208,927 14,000 36,522 1,218,108
Disposals - (10,600 ) - (17,630 )
Exchange differences (1,984 ) - - (26,312 )
At 31 May 2022 814,694 23,200 221,439 9,902,436
DEPRECIATION
At 1 June 2021 248,551 10,003 102,560 2,599,331
Charge for year 85,162 3,336 26,576 1,079,376
Eliminated on disposal - (6,755 ) - (7,717 )
Exchange differences (864 ) - - (8,287 )
At 31 May 2022 332,849 6,584 129,136 3,662,703
NET BOOK VALUE
At 31 May 2022 481,845 16,616 92,303 6,239,733
At 31 May 2021 359,200 9,797 82,357 6,128,939

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

10. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2021 55,442 382,245 124,130
At 31 May 2022 55,442 382,245 124,130
DEPRECIATION
At 1 June 2021 8,825 154,946 40,261
Charge for year 5,544 45,460 16,774
At 31 May 2022 14,369 200,406 57,035
NET BOOK VALUE
At 31 May 2022 41,073 181,839 67,095
At 31 May 2021 46,617 227,299 83,869
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2021 9,200 12,283 583,300
Additions 14,000 - 14,000
At 31 May 2022 23,200 12,283 597,300
DEPRECIATION
At 1 June 2021 3,312 6,216 213,560
Charge for year 3,272 1,517 72,567
At 31 May 2022 6,584 7,733 286,127
NET BOOK VALUE
At 31 May 2022 16,616 4,550 311,173
At 31 May 2021 5,888 6,067 369,740

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

10. TANGIBLE FIXED ASSETS - continued

Company
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 June 2021 151,033 11,139 10,135 14,116 186,423
Additions - - 2,172 1,674 3,846
At 31 May 2022 151,033 11,139 12,307 15,790 190,269
DEPRECIATION
At 1 June 2021 6,803 2,396 7,152 12,066 28,417
Charge for year 3,020 1,114 721 802 5,657
At 31 May 2022 9,823 3,510 7,873 12,868 34,074
NET BOOK VALUE
At 31 May 2022 141,210 7,629 4,434 2,922 156,195
At 31 May 2021 144,230 8,743 2,983 2,050 158,006

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 June 2021
and 31 May 2022 586
NET BOOK VALUE
At 31 May 2022 586
At 31 May 2021 586

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Funky Monkeys Softplay Newport Ltd
Registered office: 9 Castlewellan Road, Rathfriland, Newry, Co. Down, Northern Ireland, BT34 5LY
Nature of business: Kids softplay area and café.
%
Class of shares: holding
Ordinary £1 shares 100.00

Funky Monkeys Playcentres Ltd owns 100.0% of the ordinary share capital in Funky Monkeys Softplay Newport Ltd.

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

11. FIXED ASSET INVESTMENTS - continued

Funky Monkeys Softplay Clarehall Limited
Registered office: Clarehall Shopping Centre, Malahide Road, Dublin, Republic of Ireland
Nature of business: Kids softplay area and café.
%
Class of shares: holding
Ordinary €1 shares 100.00

Funky Monkeys Playcentres Ltd owns 100.0% of the ordinary share capital in Funky Monkeys Softplay Clarehall Limited.

Funky Monkeys Softplay Dundonald Ltd
Registered office: 9 Castlewellan Road, Rathfriland, Newry, Co. Down, Northern Ireland, BT34 5LY
Nature of business: Kids softplay area and café.
%
Class of shares: holding
Ordinary £1 shares 100.00

Funky Monkeys Playcentres Ltd owns 100.0% of the ordinary share capital in Funky Monkeys Softplay Dundonald Limited.

Funky Monkeys Softplay West Brom Ltd
Registered office: 9 Castlewellan Road, Rathfriland, Newry, Co. Down, Northern Ireland, BT34 5LY
Nature of business: Kids softplay area and café
%
Class of shares: holding
Ordinary £1 shares 100.00

Funky Monkeys Playcentres Ltd owns 100.0% of the ordinary share capital in Funky Monkeys Softplay West Brom Limited.

Air-Tastic Limited
Registered office: 9 Castlewellan Road, Rathfriland, Newry, Co. Down, Northern Ireland, BT34 5LY
Nature of business: Indoor Leisure
%
Class of shares: holding
Ordinary £1 shares 100.00

Funky Monkeys Playcentres Ltd owns 100.0% of the ordinary share capital in Air-Tastic Limited.

Captain Greens Limited
Registered office: 9 Castlewellan Road, Rathfriland, Newry, Co. Down, Northern Ireland, BT34 5LY
Nature of business: Indoor Leisure
%
Class of shares: holding
Ordinary £1 shares 100.00

Funky Monkeys Playcentres Ltd owns 100.0% of the ordinary share capital in Captain Greens Limited.


12. STOCKS

Group Company
2022 2021 2022 2021
£    £    £    £   
Finished goods 199,610 93,114 6,192 3,612

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

13. DEBTORS

Group Company
2022 2021 2022 2021
£    £    £    £   
Amounts falling due within one year:
Trade debtors 126,781 79,496 10,139 4,220
Amounts owed by group undertakings - - 645,842 372,024
Other debtors 16,783 438,097 15,859 1,478
Directors' current accounts 184,139 239,893 184,139 239,893
Tax - - - 22
VAT - - - 5,443
Deferred tax asset - 98,983 119,280 29,168
Prepayments and accrued income 1,118,563 289,660 83,242 13,061
1,446,266 1,146,129 1,058,501 665,309

Amounts falling due after more than one year:
Amounts owed by group undertakings - - 936,579 240,000

Aggregate amounts 1,446,266 1,146,129 1,995,080 905,309

Deferred tax asset
Group Company
2022 2021 2022 2021
£    £    £    £   
Deferred tax - 98,983 119,280 29,168

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2022 2021 2022 2021
£    £    £    £   
Bank loans and overdrafts (see note 16) 650,595 927,872 324,236 177,064
Other loans (see note 16) 1,124,716 831,277 - -
Hire purchase contracts (see note 17) 157,044 141,362 - -
Trade creditors 602,422 385,427 13,298 22,545
Amounts owed to group undertakings - - 326,656 217,387
Tax 348,004 51,973 - -
Social security and other taxes 273,859 69,246 23,715 3,245
VAT 297,898 1,922 3,696 -
Other creditors 489,717 512,389 5,599 14,358
Accrued expenses 613,610 536,541 23,125 19,897
4,557,865 3,458,009 720,325 454,496

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2022 2021 2022 2021
£    £    £    £   
Bank loans (see note 16) 2,052,107 2,070,347 1,392,355 773,451
Other loans (see note 16) 1,789,527 2,776,119 - -
Hire purchase contracts (see note 17) 115,244 262,397 - -
3,956,878 5,108,863 1,392,355 773,451

16. LOANS

An analysis of the maturity of loans is given below:

Group Company
2022 2021 2022 2021
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 1,145 1,856 976 1,094
Bank loans 649,450 926,016 323,260 175,970
Other loans 1,124,716 831,277 - -
1,775,311 1,759,149 324,236 177,064
Amounts falling due between one and two years:
Bank loans - 1-2 years 724,778 785,370 364,615 176,227
Other loans - 1-2 years 980,011 1,092,858 - -
1,704,789 1,878,228 364,615 176,227
Amounts falling due between two and five years:
Bank loans - 2-5 years 1,141,627 1,218,087 842,038 530,334
Other loans - 2-5 years 809,516 1,683,261 - -
1,951,143 2,901,348 842,038 530,334
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 185,702 66,890 185,702 66,890

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year 157,044 141,362
Between one and five years 115,244 262,397
272,288 403,759

Group
Non-cancellable operating leases
2022 2021
£    £   
Within one year 1,346,565 878,302
Between one and five years 4,693,785 3,964,139
In more than five years 4,113,671 4,989,191
10,154,021 9,831,632

18. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2022 2021 2022 2021
£    £    £    £   
Bank loans 2,701,557 2,996,363 1,715,615 949,421
Other loans 2,914,243 3,607,396 - -
Hire purchase contracts 272,288 403,759 - -
5,888,088 7,007,518 1,715,615 949,421

Loans are secured by: fixed and floating charges over the group companies; a charge over the property located at 9 Castlewellan Road, Rathfriland, Co. Down; an inter-company cross guarantee; and personal guarantees provided by the directors.

Within Other loans there are loans (£297,090) secured by a corporate guarantee provided by Funky Monkeys Playcentres Limited - these loans relate to assets which the lender purports to include a reservation of title clause in their condition of sale.

19. PROVISIONS FOR LIABILITIES

Group
2022 2021
£    £   
Deferred tax 170,862 -

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

19. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 June 2021 (98,983 )
Charge to Income Statement during year 269,845
Balance at 31 May 2022 170,862

Company
Deferred
tax
£   
Balance at 1 June 2021 (29,168 )
Credit to Income Statement during year (90,112 )
Balance at 31 May 2022 (119,280 )

20. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
66 Ordinary Share Capital £1 66 66

21. RESERVES

Group
Retained
earnings
£   

At 1 June 2021 (429,216 )
Profit for the year 2,208,937
Dividends (255,000 )
Consolidation translation 2,233
At 31 May 2022 1,526,954


22. CAPITAL COMMITMENTS
2022 2021
£    £   
Contracted but not provided for in the
financial statements - 108,575

Funky Monkeys Playcentres Ltd (Registered number: NI602524)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 May 2022

23. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2022 and 31 May 2021:

2022 2021
£    £   
M Simpson
Balance outstanding at start of year 82,909 (569 )
Amounts advanced 67,737 83,478
Amounts repaid (85,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 65,646 82,909

Mrs A Simpson
Balance outstanding at start of year 82,909 (539 )
Amounts advanced 67,737 83,448
Amounts repaid (85,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 65,646 82,909

H Moore
Balance outstanding at start of year 74,077 (897 )
Amounts advanced 63,772 74,974
Amounts repaid (85,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 52,849 74,077

During the year, total dividends of £255,000 were paid to the directors.