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Registration number: 07485371

Specialist Play Learning & Activity Team Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Specialist Play Learning & Activity Team Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Specialist Play Learning & Activity Team Ltd

Company Information

Director

Ms G L Porterfield

Company secretary

Ms A Mensah

Registered office

Henlow Bridge Lakes
Arlesey Road
Henlow
SG16 6DD

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Specialist Play Learning & Activity Team Ltd

(Registration number: 07485371)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

16,568

11,026

Current assets

 

Debtors

4

1,228

31

Cash at bank and in hand

 

462

7,756

 

1,690

7,787

Creditors: Amounts falling due within one year

5

(192,461)

(190,349)

Net current liabilities

 

(190,771)

(182,562)

Total assets less current liabilities

 

(174,203)

(171,536)

Creditors: Amounts falling due after more than one year

5

(24,167)

(34,200)

Provisions for liabilities

(1,526)

(1,096)

Net liabilities

 

(199,896)

(206,832)

Capital and reserves

 

Called up share capital

6

3,000

3,000

Retained earnings

(202,896)

(209,832)

Shareholders' deficit

 

(199,896)

(206,832)

For the financial year ending 31 January 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Specialist Play Learning & Activity Team Ltd

(Registration number: 07485371)
Balance Sheet as at 31 January 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 April 2024
 

.........................................
Ms G L Porterfield
Director

 

Specialist Play Learning & Activity Team Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Specialist Play Learning & Activity Team Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

40% reducing balance

Plant and machinery

40% reducing balance

Furniture and fittings

25% reducing balance

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Specialist Play Learning & Activity Team Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 19 (2022 - 17).

 

Specialist Play Learning & Activity Team Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2022

17,498

15,344

2,167

35,009

Additions

8,725

5,454

212

14,391

Disposals

-

(623)

-

(623)

At 31 January 2023

26,223

20,175

2,379

48,777

Depreciation

At 1 February 2022

11,994

10,564

1,424

23,982

Charge for the year

5,692

2,488

383

8,563

Eliminated on disposal

-

(336)

-

(336)

At 31 January 2023

17,686

12,716

1,807

32,209

Carrying amount

At 31 January 2023

8,537

7,459

572

16,568

At 31 January 2022

5,504

4,779

743

11,026

Included within the net book value of land and buildings above is £8,537 (2022 - £5,504) in respect of long leasehold land and buildings.
 

4

Debtors

Current

2023
£

2022
£

Other debtors

1,228

31

 

Specialist Play Learning & Activity Team Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

10,000

10,000

Trade creditors

 

3,225

6,217

Taxation and social security

 

5,307

-

Accruals and deferred income

 

28,572

21,576

Other creditors

 

145,357

152,556

 

192,461

190,349

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

24,167

34,200

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £3,000 each

1

3,000

1

3,000

         
 

Specialist Play Learning & Activity Team Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

24,167

34,200

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

8

Related party transactions

Loans from related parties

2023

Key management
£

Total
£

At start of period

148,002

148,002

Advanced

47,338

47,338

Repaid

(56,780)

(56,780)

At end of period

138,560

138,560

2022

Key management
£

Total
£

At start of period

216,164

216,164

Repaid

(68,162)

(68,162)

At end of period

148,002

148,002