Registered number
05480846
Play Hut Ltd
Report and Accounts
31 March 2024
Play Hut Ltd
Registered number: 05480846
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 30,000 30,000
Tangible assets 4 267,859 17,737
297,859 47,737
Current assets
Debtors 5 35,856 47,712
Cash at bank and in hand 117,858 135,326
153,714 183,038
Creditors: amounts falling due within one year 6 (518) (5,683)
Net current assets 153,196 177,355
Total assets less current liabilities 451,055 225,092
Creditors: amounts falling due after more than one year 7 (207,783) (35,205)
Net assets 243,272 189,887
Capital and reserves
Called up share capital 100 100
Profit and loss account 243,172 189,787
Shareholders' funds 243,272 189,887
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 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.
Mr P C Alexander
Director
Approved by the board on 2 December 2024
Play Hut Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
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 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 18
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 30,000
At 31 March 2024 30,000
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 30,000
At 31 March 2023 30,000
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 62,844 - 62,844
Additions 1,543 253,305 254,848
At 31 March 2024 64,387 253,305 317,692
Depreciation
At 1 April 2023 45,107 - 45,107
Charge for the year 4,726 - 4,726
At 31 March 2024 49,833 - 49,833
Net book value
At 31 March 2024 14,554 253,305 267,859
At 31 March 2023 17,737 - 17,737
5 Debtors 2024 2023
£ £
Trade debtors 35,856 47,712
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors (227) (651)
Corporation tax (9) 14,819
Other taxes and social security costs - (11,028)
Other creditors 754 2,543
518 5,683
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 25,057 35,205
Obligations under finance lease and hire purchase contracts 182,726 -
207,783 35,205
8 Other information
Play Hut Ltd is a private company limited by shares and incorporated in England. Its registered office is:
347 North Road
Darlington
DL1 3BL
Play Hut Ltd 05480846 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Mr P C Alexander No description of principal activity 05480846 2022-04-01 2023-03-31 05480846 core:WithinOneYear 2023-03-31 05480846 core:AfterOneYear 2023-03-31 05480846 core:ShareCapital 2023-03-31 05480846 core:RetainedEarningsAccumulatedLosses 2023-03-31 05480846 2023-04-01 2024-03-31 05480846 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05480846 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05480846 bus:Director40 2023-04-01 2024-03-31 05480846 1 2023-04-01 2024-03-31 05480846 2 2023-04-01 2024-03-31 05480846 core:PlantMachinery 2023-04-01 2024-03-31 05480846 core:Vehicles 2023-04-01 2024-03-31 05480846 countries:England 2023-04-01 2024-03-31 05480846 bus:FRS102 2023-04-01 2024-03-31 05480846 bus:FilletedAccounts 2023-04-01 2024-03-31 05480846 2024-03-31 05480846 core:WithinOneYear 2024-03-31 05480846 core:AfterOneYear 2024-03-31 05480846 core:ShareCapital 2024-03-31 05480846 core:RetainedEarningsAccumulatedLosses 2024-03-31 05480846 core:Goodwill 2024-03-31 05480846 core:PlantMachinery 2024-03-31 05480846 core:Vehicles 2024-03-31 05480846 2023-03-31 05480846 core:Goodwill 2023-03-31 05480846 core:PlantMachinery 2023-03-31 05480846 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure