Company registration number 06755873 (England and Wales)
PIN AND PLAY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
PIN AND PLAY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
PIN AND PLAY LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
3,125
15,625
Tangible assets
5
134,251
64,398
137,376
80,023
Current assets
Debtors
6
126,075
189,192
Cash at bank and in hand
83,488
46,769
209,563
235,961
Creditors: amounts falling due within one year
7
(206,085)
(227,099)
Net current assets
3,478
8,862
Total assets less current liabilities
140,854
88,885
Creditors: amounts falling due after more than one year
8
(88,154)
(25,770)
Provisions for liabilities
(33,563)
(16,099)
Net assets
19,137
47,016
Capital and reserves
Called up share capital
1,860
1,860
Profit and loss reserves
17,277
45,156
Total equity
19,137
47,016

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

PIN AND PLAY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 16 October 2024 and are signed on its behalf by:
Mr. S J Coates
Director
Company Registration No. 06755873
PIN AND PLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Pin and Play Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Market Row, Saffron Walden, Essex, United Kingdom, CB10 1HB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable in respect of services provided, net of discounts and value added taxes.

Turnover represents amounts receivable for the provision of telecommunications billing tools to clients.
1.4
Intangible fixed assets
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. Amortisation is charged to write off the cost of the intangible assets less their residual values over their estimated useful lives on a straight line basis.

Goodwill has arisen as the result of the assets, liabilities and trade being hived up from its subsidiary, Charge to Phone Limited. The underlying trade and assets were transferred into Pin and Play Limited on 29th April 2014. The goodwill is being amortised evenly over it's estimated useful life of 10 years.

If there are indicators of a significant movement in the useful life or residual value of the asset, amortisation is revised prospectively to reflect this.
PIN AND PLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Tangible fixed assets
At each reporting date computer equipment and fixtures, fittings & equipment are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years.  A reversal of impairment is recognised immediately in profit or loss.

Depreciation has been computed to write off the cost of the computer equipment and fixtures, fittings and equipment over their useful expected lives using the following rates:
Fixtures and fittings
25% on a straight line
Computers
33% on a straight line
Motor vehicles
33% on a straight line
1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

 

PIN AND PLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.
1.9
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.  Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction.  All differences are taken to the profit and loss account.
2
Judgements and key sources of estimation uncertainty
The preparation of financial statements requires management to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The directors consider that there are no significant judgements or estimates in the preparation of these financial statements.
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
2
2
PIN AND PLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
125,000
Amortisation and impairment
At 1 February 2023
109,375
Amortisation charged for the year
12,500
At 31 January 2024
121,875
Carrying amount
At 31 January 2024
3,125
At 31 January 2023
15,625
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023
115,577
Additions
96,549
At 31 January 2024
212,126
Depreciation and impairment
At 1 February 2023
51,179
Depreciation charged in the year
26,696
At 31 January 2024
77,875
Carrying amount
At 31 January 2024
134,251
At 31 January 2023
64,398
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
107,222
138,143
Other debtors
18,853
51,049
126,075
189,192
PIN AND PLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,483
9,230
Trade creditors
134,766
116,909
Corporation tax
3,667
25,630
Other taxation and social security
30,720
36,500
Other creditors
27,449
38,830
206,085
227,099
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
15,517
25,770
Other creditors
72,637
-
0
88,154
25,770

Included within other creditors are secured debts relating to hire purchase creditors totalling £79,867 (2023: N/A)

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