Registered number
07437573
Vita Play Limited
Filleted Accounts
30 November 2023
Vita Play Limited
Registered number: 07437573
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 84,088 131,673
Current assets
Stocks 68,939 60,596
Debtors 5 753,453 875,471
Cash at bank and in hand 47,346 31,373
869,738 967,440
Creditors: amounts falling due within one year 6 (530,905) (528,682)
Net current assets 338,833 438,758
Total assets less current liabilities 422,921 570,431
Creditors: amounts falling due after more than one year 7 (188,491) (316,218)
Provisions for liabilities (21,891) (19,983)
Net assets 212,539 234,230
Capital and reserves
Called up share capital 2 2
Profit and loss account 212,537 234,228
Shareholder's funds 212,539 234,230
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.
Martin Burgess
Director
Approved by the board on 30 August 2024
Vita Play 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 on completion of the contract.
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 at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Improvements to leasehold premises over the lease term
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. 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. 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. 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. The finance charge is allocated to each period during the lease on a straight line basis. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. 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 16 22
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 150,000
At 30 November 2023 150,000
Amortisation
At 1 December 2022 150,000
At 30 November 2023 150,000
Net book value
At 30 November 2023 -
Goodwill was written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Improvemt to leasehold premises Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 19,357 108,429 174,966 302,752
Additions - 1,850 - 1,850
Disposals - (15,000) (15,730) (30,730)
At 30 November 2023 19,357 95,279 159,236 273,872
Depreciation
At 1 December 2022 2,963 65,542 102,574 171,079
Charge for the year 4,839 11,269 15,327 31,435
On disposals - (6,000) (6,730) (12,730)
At 30 November 2023 7,802 70,811 111,171 189,784
Net book value
At 30 November 2023 11,555 24,468 48,065 84,088
At 30 November 2022 16,394 42,887 72,392 131,673
5 Debtors 2023 2022
£ £
Trade debtors 288,196 329,616
Amounts owed by group undertakings and undertakings in which the company has a participating interest 460,024 534,024
Other debtors 5,233 11,831
753,453 875,471
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 123,838 110,689
Obligations under finance lease and hire purchase contracts 3,889 4,667
Trade creditors 216,021 203,231
Amounts owed to group undertakings and undertakings in which the company has a participating interest 33,304 50,465
Taxation and social security costs 50,534 80,646
Other creditors 103,319 78,984
530,905 528,682
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 188,491 312,329
Obligations under finance lease and hire purchase contracts - 3,889
188,491 316,218
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 102,822 104,868
9 Controlling party
Beds Construction Holdings Limited is the company's ultimate parent undertaking. Its registered office is:
Suite 500
AW House
6-8 Stuart Street
Luton
LU1 2SJ
The company and its subsidiary undertakings comprise a small group. Beds Construction Holdings Limited has taken advantage of the exemption provided by s.398 of the Companies Act 2006 not to prepare group accounts.
10 Other information
Vita Play Limited is a private company limited by shares and incorporated in England. Its registered office is:
Woodhams Farm New Barn
Springvale Road
Kings Worthy
Winchester
SO23 7LB
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