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REGISTERED NUMBER: SC306873 (Scotland)




















Play Fab Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2024






Play Fab Ltd (Registered number: SC306873)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Play Fab Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Mr P Hoenigmann



SECRETARY: Whitelaw Wells



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



REGISTERED NUMBER: SC306873 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Clydesdale Bank PLC
(trading as Virging Money)
83 George Street
Edinburgh
EH2 3ES

Play Fab Ltd (Registered number: SC306873)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1,511 5,171
Tangible assets 5 20,239 17,951
21,750 23,122

CURRENT ASSETS
Stocks 86,119 138,228
Debtors 6 32,709 55,211
Cash at bank 39,417 3,326
158,245 196,765
CREDITORS
Amounts falling due within one year 7 109,120 196,782
NET CURRENT ASSETS/(LIABILITIES) 49,125 (17 )
TOTAL ASSETS LESS CURRENT LIABILITIES 70,875 23,105

PROVISIONS FOR LIABILITIES 4,283 -
NET ASSETS 66,592 23,105

Play Fab Ltd (Registered number: SC306873)

Balance Sheet - continued
31 December 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 66,492 23,005
SHAREHOLDERS' FUNDS 66,592 23,105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 May 2025 and were signed by:





Mr P Hoenigmann - Director


Play Fab Ltd (Registered number: SC306873)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Play Fab Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover and revenue recognition
Turnover represents the invoiced sale of recreational play park equipment, excluding value added tax.

Revenue is recognised on delivery of the recreational play park equipment.

Goodwill
Goodwilll, being the amount paid in connection with the acquisition of the name and intellectual property and customer list and intangible assets of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Play Fab Ltd (Registered number: SC306873)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 18,286
AMORTISATION
At 1 January 2024 13,115
Charge for year 3,660
At 31 December 2024 16,775
NET BOOK VALUE
At 31 December 2024 1,511
At 31 December 2023 5,171

Play Fab Ltd (Registered number: SC306873)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 21,116
Additions 6,962
At 31 December 2024 28,078
DEPRECIATION
At 1 January 2024 3,165
Charge for year 4,674
At 31 December 2024 7,839
NET BOOK VALUE
At 31 December 2024 20,239
At 31 December 2023 17,951

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,974 44,926
Amounts owed by group undertakings 2,474 -
Amounts owed by participating interests 261 -
Other debtors - 10,285
32,709 55,211

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 97,873 187,804
Amounts owed to group undertakings - 7,526
Taxation and social security 8,307 -
Other creditors 2,940 1,452
109,120 196,782

Play Fab Ltd (Registered number: SC306873)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. ULTIMATE CONTROLLING PARTY

Inclusive Play (UK) Limited (SC301254) is regarded by the director as being the company's ultimate parent company.

9. SECURITY

The Clydesdale Bank PLC holds a Floating Charge over the assets of the company.