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Company No: 06906702 (England and Wales)

ADVENTURE PLAYGROUND ENGINEERS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

ADVENTURE PLAYGROUND ENGINEERS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

ADVENTURE PLAYGROUND ENGINEERS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
ADVENTURE PLAYGROUND ENGINEERS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 7,971 9,748
7,971 9,748
Current assets
Debtors 4 21,873 230,506
Cash at bank and in hand 304 32,005
22,177 262,511
Creditors: amounts falling due within one year 5 ( 275,294) ( 368,638)
Net current liabilities (253,117) (106,127)
Total assets less current liabilities (245,146) (96,379)
Creditors: amounts falling due after more than one year 6 ( 23,919) ( 35,000)
Net liabilities ( 269,065) ( 131,379)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 269,165 ) ( 131,479 )
Total shareholder's deficit ( 269,065) ( 131,379)

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Adventure Playground Engineers Limited (registered number: 06906702) were approved and authorised for issue by the Director. They were signed on its behalf by:

Dennis John O Driscoll
Director

22 February 2024

ADVENTURE PLAYGROUND ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
ADVENTURE PLAYGROUND ENGINEERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Adventure Playground Engineers Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Cody Dock, South Crescent, London, E16 4TL, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £269,065. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Vehicles 5 years straight line
Fixtures and fittings 10 years straight line
Computer equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 9 8

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2022 18,634 28,658 17,850 6,390 71,532
Additions 1,349 0 0 0 1,349
At 31 March 2023 19,983 28,658 17,850 6,390 72,881
Accumulated depreciation
At 01 April 2022 17,565 28,658 11,940 3,621 61,784
Charge for the financial year 501 0 1,785 840 3,126
At 31 March 2023 18,066 28,658 13,725 4,461 64,910
Net book value
At 31 March 2023 1,917 0 4,125 1,929 7,971
At 31 March 2022 1,069 0 5,910 2,769 9,748

4. Debtors

2023 2022
£ £
Trade debtors 6,065 207,932
Prepayments and accrued income 1,519 4,530
Other debtors 14,289 18,044
21,873 230,506

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 29,606 7,500
Trade creditors 11,913 17,059
Amounts owed to director 191,200 143,673
Accruals and deferred income 7,700 124,500
Other taxation and social security 28,068 51,863
Other creditors 6,807 24,043
275,294 368,638

There are no amounts included above in respect of which any security has been given by the small entity.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 23,919 35,000

There are no amounts included above in respect of which any security has been given by the small entity.