Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-312023-01-01truefalseNo description of principal activity1618trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04143796 2023-01-01 2023-12-31 04143796 2022-01-01 2022-12-31 04143796 2023-12-31 04143796 2022-12-31 04143796 c:Director1 2023-01-01 2023-12-31 04143796 c:Director2 2023-01-01 2023-12-31 04143796 d:FurnitureFittings 2023-01-01 2023-12-31 04143796 d:FurnitureFittings 2023-12-31 04143796 d:FurnitureFittings 2022-12-31 04143796 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04143796 d:OfficeEquipment 2023-01-01 2023-12-31 04143796 d:OfficeEquipment 2023-12-31 04143796 d:OfficeEquipment 2022-12-31 04143796 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04143796 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04143796 d:Goodwill 2023-01-01 2023-12-31 04143796 d:Goodwill 2023-12-31 04143796 d:Goodwill 2022-12-31 04143796 d:CurrentFinancialInstruments 2023-12-31 04143796 d:CurrentFinancialInstruments 2022-12-31 04143796 d:Non-currentFinancialInstruments 2023-12-31 04143796 d:Non-currentFinancialInstruments 2022-12-31 04143796 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04143796 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04143796 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04143796 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04143796 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 04143796 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 04143796 d:ShareCapital 2023-12-31 04143796 d:ShareCapital 2022-12-31 04143796 d:RetainedEarningsAccumulatedLosses 2023-12-31 04143796 d:RetainedEarningsAccumulatedLosses 2022-12-31 04143796 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04143796 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04143796 c:FRS102 2023-01-01 2023-12-31 04143796 c:IndependentExaminationCharity 2023-01-01 2023-12-31 04143796 c:FullAccounts 2023-01-01 2023-12-31 04143796 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04143796 d:EntityControlledByKeyManagementPersonnel1 2023-01-01 2023-12-31 04143796 d:EntityControlledByKeyManagementPersonnel1 2022-01-01 2022-12-31 04143796 d:EntityControlledByKeyManagementPersonnel1 2023-12-31 04143796 d:EntityControlledByKeyManagementPersonnel1 2022-12-31 04143796 d:ImmediateParent 2023-01-01 2023-12-31 04143796 d:ImmediateParent 2023-12-31 04143796 d:ImmediateParent 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 04143796









THE PLAYWRITE GROUP LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
THE PLAYWRITE GROUP LIMITED
REGISTERED NUMBER: 04143796

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
31,637
37,233

  
31,637
37,233

Current assets
  

Stocks
  
860,603
1,127,125

Debtors: amounts falling due within one year
 6 
181,634
285,739

Cash at bank and in hand
 7 
416,362
77,620

  
1,458,599
1,490,484

Creditors: amounts falling due within one year
 8 
(221,385)
(240,438)

Net current assets
  
 
 
1,237,214
 
 
1,250,046

Total assets less current liabilities
  
1,268,851
1,287,279

Creditors: amounts falling due after more than one year
 9 
(679,650)
(721,149)

Provisions for liabilities
  

Deferred tax
  
(7,562)
(8,885)

  
 
 
(7,562)
 
 
(8,885)

Net assets
  
581,639
557,245


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Profit and loss account
  
481,639
457,245

  
581,639
557,245


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

Page 1

 
THE PLAYWRITE GROUP LIMITED
REGISTERED NUMBER: 04143796
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 April 2024.




James Alexander Cornelius
Guy Dominic Cornelius
Director
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
THE PLAYWRITE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Wheel House, 31-37 Church Street, Reigate, Surrey, RH2 0AD, UK.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
THE PLAYWRITE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
20
% straight line

Page 4

 
THE PLAYWRITE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance
Office equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
THE PLAYWRITE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Page 6

 
THE PLAYWRITE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 18).

Page 7

 
THE PLAYWRITE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
50,000



At 31 December 2023

50,000



Amortisation


At 1 January 2023
50,000



At 31 December 2023

50,000



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 8

 
THE PLAYWRITE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
105,076
272,268
377,344


Additions
565
1,351
1,916



At 31 December 2023

105,641
273,619
379,260



Depreciation


At 1 January 2023
87,211
252,900
340,111


Charge for the year on owned assets
3,576
3,936
7,512



At 31 December 2023

90,787
256,836
347,623



Net book value



At 31 December 2023
14,854
16,783
31,637



At 31 December 2022
17,865
19,368
37,233


6.


Debtors

2023
2022
£
£


Trade debtors
167,937
245,489

Prepayments and accrued income
13,697
40,250

181,634
285,739



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
416,362
77,620

416,362
77,620


Page 9

 
THE PLAYWRITE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
14,313
34,720

Corporation tax
33,687
27,034

Other taxation and social security
161,603
166,883

Accruals and deferred income
11,782
11,801

221,385
240,438



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
26,667
35,833

Amounts owed to group undertakings
652,983
685,316

679,650
721,149



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Bank loans
26,667
35,833


26,667
35,833



26,667
35,833



11.


Deferred taxation

Page 10

 
THE PLAYWRITE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
11.Deferred taxation (continued)




2023


£






At beginning of year
(8,885)


Charged to profit or loss
1,323



At end of year
(7,562)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(7,562)
(8,885)

(7,562)
(8,885)


12.


Related party transactions

The company is owned by WH Cornelius Limited.
At 31 December 2023, the company owed £652,983 (2022: £685,316) to WH Cornelius Limited. The loan is being repaid on a monthly basis for as long as the directors deem it wise within cashflow constrictions.
Of the balance owed to WH Cornelius at the year end, £330,000 (2022: £330,000) was accruing interest at 4% per annum on the original capital only, but this ceased in 2018 as the company looks to retain cash.  Unpaid interest at 2023 stands at £44,528 (2022: £44,528).  The charge for 2023 was £nil (2022: nil).  No interest (2022: £nil) was paid off in the year.

During the course of the year, the company sold goods to the following businesses owned by WH Cornelius, or members of his immediate family:
Goods sold to Risus Ltd during 2023 £337,176 (2022: £317,677), the balance owed from Risus Ltd to the company as at 31 December 2023 was £Nil (2022: £27,820)
All transactions were carried out at arms length.
The company also charged Risus Limited management charges during the year of £12,000 (2021: £10,000).

 
Page 11