Registered number
11481991
Players Watches Limited
Filleted Accounts
30 November 2023
Players Watches Limited
Registered number: 11481991
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 169,038 18,714
Current assets
Stocks 698,635 778,575
Debtors 4 103,209 84,266
801,844 862,841
Creditors: amounts falling due within one year 5 (617,905) (579,615)
Net current assets 183,939 283,226
Total assets less current liabilities 352,977 301,940
Creditors: amounts falling due after more than one year 6 (42,686) (25,007)
Provisions for liabilities (1,908) (1,908)
Net assets 308,383 275,025
Capital and reserves
Called up share capital 2 2
Profit and loss account 308,381 275,023
Shareholders' funds 308,383 275,025
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Davies
Director
Approved by the board on 14 August 2024
Players Watches Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 33 % reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Equipment Motor vehicle Total
£ £ £
Cost
At 1 December 2022 36,568 - 36,568
Additions - 156,500 156,500
At 30 November 2023 36,568 156,500 193,068
Depreciation
At 1 December 2022 17,854 - 17,854
Charge for the year 6,176 - 6,176
At 30 November 2023 24,030 - 24,030
Net book value
At 30 November 2023 12,538 156,500 169,038
At 30 November 2022 18,714 - 18,714
4 Debtors 2023 2022
£ £
Trade debtors 83,150 79,633
Other debtors 20,059 4,633
103,209 84,266
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 186,703 134,021
Trade creditors 349,086 203,727
Taxation and social security costs 34,199 37,171
Other creditors 47,917 204,696
617,905 579,615
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 42,686 25,007
7 Other information
Players Watches Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
74 Wyndham Crescent
Cardiff
CF11 9EF
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