Company Registration No. SC652565 (Scotland)
Playmatic Ltd
Unaudited accounts
for the year ended 31 January 2024
Playmatic Ltd
Unaudited accounts
Contents
Playmatic Ltd
Company Information
for the year ended 31 January 2024
Directors
Ms JB Perella
Mr D Perella
Company Number
SC652565 (Scotland)
Registered Office
Blackrock House
2-8 Millar Crescent
Edinburgh
Midlothian
EH10 5HW
Scotland
Accountants
AGL Tax Solutions LLP
2A Station Yard
Haddington
East Lothian
EH41 3PP
Playmatic Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
19,486
20,987
Cash at bank and in hand
1,903
1,011
Creditors: amounts falling due within one year
(384,946)
(373,763)
Net current liabilities
(381,287)
(370,796)
Total assets less current liabilities
(361,801)
(349,809)
Creditors: amounts falling due after more than one year
(24,506)
(35,874)
Net liabilities
(386,307)
(385,683)
Called up share capital
2
2
Profit and loss account
(386,309)
(385,685)
Shareholders' funds
(386,307)
(385,683)
For the year ending 31 January 2024 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 1 April 2024 and were signed on its behalf by
Mr D Perella
Director
Company Registration No. SC652565
Playmatic Ltd
Notes to the Accounts
for the year ended 31 January 2024
Playmatic Ltd is a private company, limited by shares, registered in Scotland, registration number SC652565. The registered office is Blackrock House, 2-8 Millar Crescent , Edinburgh, Midlothian, EH10 5HW, Scotland.
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.
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:
Plant & machinery
25% on cost
Motor vehicles
25% on cost
Computer equipment
33% on cost
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 tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Playmatic Ltd
Notes to the Accounts
for the year ended 31 January 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2023
20,988
15,990
1,870
38,848
At 31 January 2024
29,613
15,990
1,870
47,473
At 1 February 2023
6,978
10,327
556
17,861
Charge for the year
5,505
3,998
623
10,126
At 31 January 2024
12,483
14,325
1,179
27,987
At 31 January 2024
17,130
1,665
691
19,486
At 31 January 2023
14,010
5,663
1,314
20,987
Amounts falling due within one year
Accrued income and prepayments
448
448
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases and hire purchase contracts
3,089
3,089
Trade creditors
11,064
4,575
Taxes and social security
1,744
-
Other creditors
327,006
219,040
Loans from directors
27,550
134,760
Playmatic Ltd
Notes to the Accounts
for the year ended 31 January 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
5,339
7,541
8
Average number of employees
During the year the average number of employees was 0 (2023: 1).