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Registration number: 03165281

Playsafe Playgrounds Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Playsafe Playgrounds Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Playsafe Playgrounds Limited

Company Information

Directors

Mr Mindaugas Paskevicius

Mr Duncan Alexander Robertson

Mrs Stella Robertson

Company secretary

Mrs Stella Robertson

Registered office

The Carthouse
Goldrings Farm
Elsted
Midhurst West Sussex
GU29 0JS

Accountants

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Playsafe Playgrounds Limited

(Registration number: 03165281)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

62,349

79,193

Current assets

 

Stocks

6

335,000

258,000

Debtors

7

309,211

264,714

Cash at bank and in hand

 

1

30,136

 

644,212

552,850

Creditors: Amounts falling due within one year

8

(433,391)

(398,153)

Net current assets

 

210,821

154,697

Total assets less current liabilities

 

273,170

233,890

Creditors: Amounts falling due after more than one year

8

(8,482)

(18,001)

Provisions for liabilities

(15,587)

(19,733)

Net assets

 

249,101

196,156

Capital and reserves

 

Called up share capital

9

14,635

14,635

Retained earnings

234,466

181,521

Shareholders' funds

 

249,101

196,156

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 May 2025 and signed on its behalf by:
 

 

Playsafe Playgrounds Limited

(Registration number: 03165281)
Balance Sheet as at 31 October 2024

.........................................
Mr Duncan Alexander Robertson
Director

 

Playsafe Playgrounds Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Carthouse
Goldrings Farm
Elsted
Midhurst West Sussex
GU29 0JS
England

These financial statements were authorised for issue by the Board on 6 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Playsafe Playgrounds Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

20% striaght line basis

Plant and machinery

25% reducing balance

Fixtures and fittings

20% reducing balance

Motor Vehicles

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Playsafe Playgrounds Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Playsafe Playgrounds Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 17).

 

Playsafe Playgrounds Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

9,650

9,650

At 31 October 2024

9,650

9,650

Amortisation

At 1 November 2023

9,650

9,650

At 31 October 2024

9,650

9,650

Carrying amount

At 31 October 2024

-

-

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

12,189

26,626

167,960

178,793

385,568

Additions

-

-

604

9,995

10,599

At 31 October 2024

12,189

26,626

168,564

188,788

396,167

Depreciation

At 1 November 2023

11,929

26,324

141,006

127,116

306,375

Charge for the year

260

65

6,888

20,230

27,443

At 31 October 2024

12,189

26,389

147,894

147,346

333,818

Carrying amount

At 31 October 2024

-

237

20,670

41,442

62,349

At 31 October 2023

260

302

26,954

51,677

79,193

Included within the net book value of land and buildings above is £Nil (2023 - £260) in respect of short leasehold land and buildings.
 

 

Playsafe Playgrounds Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Stocks

2024
£

2023
£

Work in progress

102,000

135,000

Other inventories

233,000

123,000

335,000

258,000

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

277,711

243,214

Amounts owed by related parties

31,000

21,000

Other debtors

 

500

500

   

309,211

264,714

 

Playsafe Playgrounds Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

70,848

58,991

Trade creditors

 

202,010

167,544

Taxation and social security

 

72,852

96,782

Accruals and deferred income

 

2,900

2,900

Other creditors

 

84,781

71,936

 

433,391

398,153

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

8,482

18,001

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

14,635

14,635

14,635

14,635

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

8,482

18,001

Current loans and borrowings

 

Playsafe Playgrounds Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

2024
£

2023
£

Bank overdrafts

30,753

-

Hire purchase contracts

20,095

28,991

Other borrowings

20,000

30,000

70,848

58,991