Registered number
13061096
Work And Play Software Limited
Filleted Accounts
31 December 2023
Work And Play Software Limited
Registered number: 13061096
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 5,259 2,400
Cash at bank and in hand 4,365 7,198
9,624 9,598
Creditors: amounts falling due within one year 4 (16,013) (7,839)
Net current (liabilities)/assets (6,389) 1,759
Net (liabilities)/assets (6,389) 1,759
Capital and reserves
Called up share capital 100 100
Profit and loss account (6,489) 1,659
Shareholder's funds (6,389) 1,759
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Jean-Louis Dinh
Director
Approved by the board on 1 August 2024
Work And Play Software Limited
Notes to the Accounts
for the year ended 31 December 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).
Going Concern
At the time of approving the financial statements the director does not have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus the director does not continue to adopt the going concern basis of accounting and the break up basis of accounting has been adopted in preparing the financial statements.
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:
Freehold buildings over 1 year
Leasehold land and buildings over 1 year
Plant and machinery over 1 year
Fixtures, fittings, tools and equipment over 1 year
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 1 1
3 Debtors 2023 2022
£ £
Trade debtors 4,536 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 2,400
Other debtors 723 -
5,259 2,400
4 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 5,000 -
Taxation and social security costs - 2,727
Other creditors 11,013 5,112
16,013 7,839
5 Related party transactions
The company has taken advantage of the exemption available in section 33 of FRS102 "Related party disclosures" whereby it has not disclosed transactions with its ultimate parent company or any wholly owned subsidiary undertaking of the group.
6 Controlling party
The parent company is Work And Play SAS. The registered office address is:
1 avenue Hubert Curien, 27200 VERNON FRANCE
7 Other information
Work And Play Software Limited is a private company limited by shares and incorporated in England. Its registered office is:
45 Lansdowne Road
Finchley
London
N3 1ET
8 Going Concern
During the financial year, the parent company Work And Play SAS went into financial difficulties and then liquidation. Consequently, the supply contract representing majority of the company's sales was significantly reduced and the director after careful review and making enquires is not confident that this will not adversely affect the company. In addition to this the company will not receive assurances from the parent company that it will provide support to the company in order to meet it's obligations as and when required for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the company cannot continue to adopt the going concern basis and has adopted the break up basis in preparing these financial statements.
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