Pinecone Games Ltd |
Notes to the Accounts |
for the year ended 31 January 2024 |
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1 |
Accounting policies |
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Turnover |
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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. |
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Tangible fixed assets |
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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: |
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Plant and machinery |
over 5 years |
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Creditors |
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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. |
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2 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 February 2023 |
799 |
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At 31 January 2024 |
799 |
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Depreciation |
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At 1 February 2023 |
537 |
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Charge for the year |
52 |
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At 31 January 2024 |
589 |
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Net book value |
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At 31 January 2024 |
210 |
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At 31 January 2023 |
262 |
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3 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Other debtors |
- |
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217 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Other creditors |
17,844 |
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26,309 |
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5 |
Other information |
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Pinecone Games Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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124 City Road |
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London |
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England |
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EC1V 2NX |