Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Demi Danielle Cook 24/09/2024 Michael Cook 24/09/2024 Dr Angela Marie Nicholls 18/06/2018 Graham Nicholls 24/09/2024 18/06/2018 26 June 2025 The principal activity of the Company during the financial year was that of a children's indoor play area and café. SC600189 2024-06-30 SC600189 bus:Director1 2024-06-30 SC600189 bus:Director2 2024-06-30 SC600189 bus:Director3 2024-06-30 SC600189 bus:Director4 2024-06-30 SC600189 2023-06-30 SC600189 core:CurrentFinancialInstruments 2024-06-30 SC600189 core:CurrentFinancialInstruments 2023-06-30 SC600189 core:Non-currentFinancialInstruments 2024-06-30 SC600189 core:Non-currentFinancialInstruments 2023-06-30 SC600189 core:ShareCapital 2024-06-30 SC600189 core:ShareCapital 2023-06-30 SC600189 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC600189 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC600189 core:LandBuildings 2023-06-30 SC600189 core:OtherPropertyPlantEquipment 2023-06-30 SC600189 core:LandBuildings 2024-06-30 SC600189 core:OtherPropertyPlantEquipment 2024-06-30 SC600189 bus:OrdinaryShareClass1 2024-06-30 SC600189 2023-07-01 2024-06-30 SC600189 bus:FilletedAccounts 2023-07-01 2024-06-30 SC600189 bus:SmallEntities 2023-07-01 2024-06-30 SC600189 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC600189 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC600189 bus:Director1 2023-07-01 2024-06-30 SC600189 bus:Director2 2023-07-01 2024-06-30 SC600189 bus:Director3 2023-07-01 2024-06-30 SC600189 bus:Director4 2023-07-01 2024-06-30 SC600189 core:LandBuildings core:TopRangeValue 2023-07-01 2024-06-30 SC600189 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 SC600189 2022-07-01 2023-06-30 SC600189 core:LandBuildings 2023-07-01 2024-06-30 SC600189 core:CurrentFinancialInstruments 2023-07-01 2024-06-30 SC600189 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 SC600189 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC600189 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC600189 (Scotland)

PLAYPLUS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

PLAYPLUS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

PLAYPLUS LTD

BALANCE SHEET

AS AT 30 JUNE 2024
PLAYPLUS LTD

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 109,358 140,691
109,358 140,691
Current assets
Stocks 4 3,658 3,469
Debtors 5 915 1,078
Cash at bank and in hand 220 53
4,793 4,600
Creditors: amounts falling due within one year 6 ( 298,532) ( 282,056)
Net current liabilities (293,739) (277,456)
Total assets less current liabilities (184,381) (136,765)
Creditors: amounts falling due after more than one year 7 ( 73,896) ( 103,109)
Net liabilities ( 258,277) ( 239,874)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 258,377 ) ( 239,974 )
Total shareholders' deficit ( 258,277) ( 239,874)

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Playplus Ltd (registered number: SC600189) were approved and authorised for issue by the Board of Directors on 26 June 2025. They were signed on its behalf by:

Michael Cook
Director
Dr Angela Marie Nicholls
Director
PLAYPLUS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PLAYPLUS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Playplus Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Jamesfield Centre Abernethy Road, Newburgh, Cupar, KY14 6EW, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £258,813. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for fitness facilities, health and well-being advice, children's indoor play facilities and an onsite café and is shown net of VAT and trade discounts.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of goods and services.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 3

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 July 2023 114,586 131,821 246,407
Additions 0 3,562 3,562
Disposals 0 ( 28,028) ( 28,028)
At 30 June 2024 114,586 107,355 221,941
Accumulated depreciation
At 01 July 2023 45,835 59,881 105,716
Charge for the financial year 11,459 7,259 18,718
Disposals 0 ( 11,851) ( 11,851)
At 30 June 2024 57,294 55,289 112,583
Net book value
At 30 June 2024 57,292 52,066 109,358
At 30 June 2023 68,751 71,940 140,691

4. Stocks

2024 2023
£ £
Stocks 3,658 3,469

5. Debtors

2024 2023
£ £
Trade debtors 370 192
Other debtors 545 886
915 1,078

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 40,492 35,038
Trade creditors 4,508 4,026
Other taxation and social security 13,394 5,200
Obligations under finance leases and hire purchase contracts 2,504 11,420
Other creditors 237,634 226,372
298,532 282,056

Included within Bank loans and overdrafts are borrowings secured by a floating charge over the company's assets and personal guarantee of £21,047 (2023 - £15,767).

Also included within bank loans and overdrafts are amounts advanced to the company under the Bounce Back Loan Scheme of £5,738 (2023 - £5,652). This loan is fully backed by a government guarantee.

Obligations due under finance leases are secured over the assets to which they relate.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 73,478 100,187
Obligations under finance leases and hire purchase contracts 418 2,922
73,896 103,109

Included within Bank loans are borrowings secured by a floating charge over the company's assets and personal guarantee of £45,737 (2023 - £66,784).

Also included within bank loans and overdrafts are amounts advanced to the company under the Bounce Back Loan Scheme of £27,741 (2023 - £33,403). This loan is fully backed by a government guarantee.

Obligations due under finance leases are secured over the assets to which they relate.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due to Directors 206,598 186,287

The above loan is unsecured, interest free and has no fixed terms of repayment