2023-09-012024-08-312024-08-31false12812583PLAYPALZ PARTY AND SOFTPLAY CENTRE 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PLAYPALZ PARTY AND SOFTPLAY CENTRE LTD

Registered Number
12812583
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

PLAYPALZ PARTY AND SOFTPLAY CENTRE LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

SHARP, Emma Ann
SIZZEY, Louise Claire

Registered Address

6th Floor Amp House
Dingwall Road
Croydon
CR0 2LX

Registered Number

12812583 (England and Wales)
PLAYPALZ PARTY AND SOFTPLAY CENTRE LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets312,27214,912
12,27214,912
Current assets
Stocks46,0008,000
Debtors531,52814,301
Cash at bank and on hand4,94211,243
42,47033,544
Creditors amounts falling due within one year6(57,347)(43,391)
Net current assets (liabilities)(14,877)(9,847)
Total assets less current liabilities(2,605)5,065
Provisions for liabilities7(4,091)(3,728)
Net assets(6,696)1,337
Capital and reserves
Called up share capital22
Profit and loss account(6,698)1,335
Shareholders' funds(6,696)1,337
The financial statements were approved and authorised for issue by the Board of Directors on 29 October 2024, and are signed on its behalf by:
SHARP, Emma Ann
Director
SIZZEY, Louise Claire
Director

Registered Company No. 12812583
PLAYPALZ PARTY AND SOFTPLAY CENTRE LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors will continue to support the company over the next 12 months. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year1111
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 September 2327,84514927,994
Additions1,450-1,450
At 31 August 2429,29514929,444
Depreciation and impairment
At 01 September 2313,0235913,082
Charge for year4,068224,090
At 31 August 2417,0918117,172
Net book value
At 31 August 2412,2046812,272
At 31 August 2314,8229014,912
4.Stocks

2024

2023

££
Other stocks6,0008,000
Total6,0008,000
5.Debtors: amounts due within one year

2024

2023

££
Other debtors27,5339,004
Prepayments and accrued income3,9955,297
Total31,52814,301
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 debt
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8911,696
Taxation and social security56,45640,703
Other creditors-992
Total57,34743,391
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.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,0913,728
Total4,0913,728