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COMPANY REGISTRATION NUMBER: 06255343
Learning Through Play Ltd
Unaudited Abridged Financial Statements
31 May 2024
Learning Through Play Ltd
Abridged Financial Statements
Year ended 31 May 2024
Contents
Page
Directors' report
1
Abridged statement of income and retained earnings
2
Abridged statement of financial position
3
Notes to the abridged financial statements
5
The following pages do not form part of the abridged financial statements
Accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements
11
Learning Through Play Ltd
Directors' Report
Year ended 31 May 2024
The directors present their report and the unaudited abridged financial statements of the company for the year ended 31 May 2024 .
Directors
The directors who served the company during the year were as follows:
Mrs J Baggott
Mrs N Pontin
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 11 September 2024 and signed on behalf of the board by:
Mrs J Baggott
Mrs N Pontin
Director
Director
Mrs J S Baggott
Company Secretary
Registered office:
339 Two Mile Hill Road
Kingswood
Bristol
BS15 1AN
Learning Through Play Ltd
Abridged Statement of Income and Retained Earnings
Year ended 31 May 2024
2024
2023
Note
£
£
Gross profit
418,843
306,342
Administrative expenses
321,137
228,296
---------
---------
Operating profit
97,706
78,046
Other interest receivable and similar income
2,267
376
---------
---------
Profit before taxation
5
99,973
78,422
Tax on profit
23,015
6,009
--------
--------
Profit for the financial year and total comprehensive income
76,958
72,413
--------
--------
Dividends paid and payable
( 116,500)
( 92,000)
Retained earnings at the start of the year
217,807
237,394
---------
---------
Retained earnings at the end of the year
178,265
217,807
---------
---------
All the activities of the company are from continuing operations.
Learning Through Play Ltd
Abridged Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
6
10,050
13,400
Tangible assets
7
55,988
53,677
--------
--------
66,038
67,077
Current assets
Debtors
5,099
Cash at bank and in hand
204,217
213,658
---------
---------
209,316
213,658
Creditors: amounts falling due within one year
97,087
62,926
---------
---------
Net current assets
112,229
150,732
---------
---------
Total assets less current liabilities
178,267
217,809
---------
---------
Net assets
178,267
217,809
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
178,265
217,807
---------
---------
Shareholders funds
178,267
217,809
---------
---------
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Learning Through Play Ltd
Abridged Statement of Financial Position (continued)
31 May 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
Mrs J Baggott
Mrs N Pontin
Director
Director
Company registration number: 06255343
Learning Through Play Ltd
Notes to the Abridged Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 339 Two Mile Hill Road, Kingswood, Bristol, BS15 1AN.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 27 (2023: 24 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Amortisation of intangible assets
3,350
3,350
Depreciation of tangible assets
3,213
2,804
-------
-------
6. Intangible assets
£
Cost
At 1 June 2023 and 31 May 2024
67,000
--------
Amortisation
At 1 June 2023
53,600
Charge for the year
3,350
--------
At 31 May 2024
56,950
--------
Carrying amount
At 31 May 2024
10,050
--------
At 31 May 2023
13,400
--------
7. Tangible assets
£
Cost
At 1 June 2023
86,352
Additions
5,524
--------
At 31 May 2024
91,876
--------
Depreciation
At 1 June 2023
32,675
Charge for the year
3,213
--------
At 31 May 2024
35,888
--------
Carrying amount
At 31 May 2024
55,988
--------
At 31 May 2023
53,677
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mrs J Baggott
( 74)
69
( 5)
Mrs N Pontin
( 73)
69
( 4)
----
----
----
( 147)
138
( 9)
----
----
----
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mrs J Baggott
( 393)
319
( 74)
Mrs N Pontin
( 392)
319
( 73)
----
----
----
( 785)
638
( 147)
----
----
----
9. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.
Learning Through Play Ltd
Management Information
Year ended 31 May 2024
The following pages do not form part of the abridged financial statements.
Learning Through Play Ltd
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Learning Through Play Ltd
Year ended 31 May 2024
As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 31 May 2024, which comprise the abridged statement of income and retained earnings, abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
INGLE & CO. Accountants
339 Two Mile Hill Road Kingswood Bristol BS15 1AN
11 September 2024