IRIS Accounts Production v24.3.2.46 09072093 Board of Directors Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false Ordinary 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh090720932023-06-30090720932024-06-30090720932023-07-012024-06-30090720932022-06-30090720932022-07-012023-06-30090720932023-06-3009072093ns15:EnglandWales2023-07-012024-06-3009072093ns14:PoundSterling2023-07-012024-06-3009072093ns10:Director12023-07-012024-06-3009072093ns10:Director22023-07-012024-06-3009072093ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3009072093ns10:SmallEntities2023-07-012024-06-3009072093ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3009072093ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3009072093ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3009072093ns10:FullAccounts2023-07-012024-06-3009072093ns10:OrdinaryShareClass12023-07-012024-06-3009072093ns10:RegisteredOffice2023-07-012024-06-3009072093ns5:CurrentFinancialInstruments2024-06-3009072093ns5:CurrentFinancialInstruments2023-06-3009072093ns5:Non-currentFinancialInstruments2024-06-3009072093ns5:Non-currentFinancialInstruments2023-06-3009072093ns5:ShareCapital2024-06-3009072093ns5:ShareCapital2023-06-3009072093ns5:RetainedEarningsAccumulatedLosses2024-06-3009072093ns5:RetainedEarningsAccumulatedLosses2023-06-3009072093ns5:LeaseholdImprovements2023-07-012024-06-3009072093ns5:PlantMachinery2023-07-012024-06-3009072093ns5:FurnitureFittings2023-07-012024-06-3009072093ns5:ComputerEquipment2023-07-012024-06-3009072093ns5:PlantMachinery2023-06-3009072093ns5:PlantMachinery2024-06-3009072093ns5:PlantMachinery2023-06-3009072093ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3009072093ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3009072093ns10:OrdinaryShareClass12024-06-30
REGISTERED NUMBER: 09072093 (England and Wales)















HIFE SOFT PLAY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024






HIFE SOFT PLAY LIMITED (REGISTERED NUMBER: 09072093)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


HIFE SOFT PLAY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: Mr M F Ince
Mrs H V Ince



REGISTERED OFFICE: Unit 9 Crompton Road
Groundwell Industrial Estate
SWINDON
Wiltshire
SN25 5AY



REGISTERED NUMBER: 09072093 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Santander
Bridle Road
Bootle
Merseyside
L30 4GB

HIFE SOFT PLAY LIMITED (REGISTERED NUMBER: 09072093)

STATEMENT OF FINANCIAL POSITION
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 131,596 58,253

CURRENT ASSETS
Stocks 3,556 3,309
Debtors 5 6,913 15,110
Cash at bank 40,101 22,584
50,570 41,003
CREDITORS
Amounts falling due within one year 6 81,665 69,873
NET CURRENT LIABILITIES (31,095 ) (28,870 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

100,501

29,383

CREDITORS
Amounts falling due after more than
one year

7

(41,566

)

(13,087

)

PROVISIONS FOR LIABILITIES (30,033 ) (13,887 )
NET ASSETS 28,902 2,409

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 28,901 2,408
SHAREHOLDERS' FUNDS 28,902 2,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HIFE SOFT PLAY LIMITED (REGISTERED NUMBER: 09072093)

STATEMENT OF FINANCIAL POSITION - continued
30TH JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th March 2025 and were signed on its behalf by:




Mr M F Ince - Director



Mrs H V Ince - Director


HIFE SOFT PLAY LIMITED (REGISTERED NUMBER: 09072093)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. STATUTORY INFORMATION

Hife Soft Play Limited is a private limited company, limited by shares, registered in England and Wales. The company's registered number and registered office address are shown below:

Registered number: 09072093

Registered office: Unit 9 Crompton Road
Groundwell Industrial Estate
Swindon
Wiltshire
SN25 5AY

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold property and
improvements

-

16.66% on cost
Plant and machinery - 20% on cost, 10% on cost and Over the term of the lease
Fixtures and fittings - 20% on cost and 10% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


HIFE SOFT PLAY LIMITED (REGISTERED NUMBER: 09072093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 15 ) .

HIFE SOFT PLAY LIMITED (REGISTERED NUMBER: 09072093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st July 2023 230,642
Additions 115,509
Disposals (8,156 )
At 30th June 2024 337,995
DEPRECIATION
At 1st July 2023 172,389
Charge for year 41,475
Eliminated on disposal (7,465 )
At 30th June 2024 206,399
NET BOOK VALUE
At 30th June 2024 131,596
At 30th June 2023 58,253


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 435 627
Other debtors 6,478 14,483
6,913 15,110

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 6,526
Hire purchase contracts and finance leases 5,584 2,220
Trade creditors 175 48
Taxation and social security 30,449 26,304
Other creditors 45,457 34,775
81,665 69,873

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 12,224
Hire purchase contracts and finance leases 41,566 863
41,566 13,087

HIFE SOFT PLAY LIMITED (REGISTERED NUMBER: 09072093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts and finance leases 47,150 3,083

The finance lease liability is secured over the asset concerned.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £0.01 1 1

10. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 54,855

11. OTHER FINANCIAL COMMITMENTS

At 30 June 2024, the company had outstanding financial commitments under operating leases totalling £153,776 (2023: £172,385).