Registered number
11800077
PICTURE PLAYGROUND PRINT LTD
Filleted Accounts
31 December 2024
Adams Watkins & Co
Regus House
Victory Way
Dartford, DA2 6QD
PICTURE PLAYGROUND PRINT LTD
Registered number: 11800077
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,078,729 796,241
Investments 4 129,605 129,605
1,208,334 925,846
Current assets
Stocks 110,010 52,236
Debtors 5 1,130,225 683,047
Cash at bank and in hand 54,424 91,740
1,294,659 827,023
Creditors: amounts falling due within one year 6 (1,446,199) (952,119)
Net current liabilities (151,540) (125,096)
Total assets less current liabilities 1,056,794 800,750
Creditors: amounts falling due after more than one year 7 (554,214) (438,772)
Provisions for liabilities (161,919) (86,463)
Net assets 340,661 275,515
Capital and reserves
Called up share capital 100 100
Profit and loss account 340,561 275,415
Shareholders' funds 340,661 275,515
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Simons
Director
Approved by the board on 11 August 2025
PICTURE PLAYGROUND PRINT LTD
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 10%-25% straight line
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 163,659 926,197 1,211 1,091,067
Additions 11,503 430,667 - 442,170
Disposals - (66,489) - (66,489)
At 31 December 2024 175,162 1,290,375 1,211 1,466,748
Depreciation
At 1 January 2024 24,800 269,774 252 294,826
Charge for the year 26,096 102,513 240 128,849
On disposals - (35,656) - (35,656)
At 31 December 2024 50,896 336,631 492 388,019
Net book value
At 31 December 2024 124,266 953,744 719 1,078,729
At 31 December 2023 138,859 656,423 959 796,241
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2024 129,605
At 31 December 2024 129,605
Historical cost
At 1 January 2024 129,605
At 31 December 2024 129,605
5 Debtors 2024 2023
£ £
Trade debtors 895,712 362,367
Amounts owed by group undertakings and undertakings in which the company has a participating interest 188,033 278,217
Other debtors 46,480 42,463
1,130,225 683,047
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 12,841 10,909
Amounts owed under factoring agreements 215,644 -
Obligations under finance lease and hire purchase contracts 164,096 125,279
Trade creditors 954,043 522,505
Taxation and social security costs 63,052 102,357
Other creditors 36,523 191,069
1,446,199 952,119
Included in other creditors is £38,066 (2023 £126,107) owed to the Directors of the Company.
Included in Trade creditors is £137,089 (2022 £177,112) owed to PrintBig Limited, an 80% owned subsidiary of the Company.
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,927 20,909
Obligations under finance lease and hire purchase contracts 362,903 232,479
Other creditors 185,384 185,384
554,214 438,772
Included in other creditors is £185,384 (2023 £185,384) owed to the Directors of the Company.
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 215,644 -
The Company is subject to an, ' all assets', fixed and floating charge for the purpose of security provided for a factoring agreement.
9 Pension commitments
Pension costs are charged to the profit and loss account when they arise.
10 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 10,395 -
11 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
K Simons
Director's current account (5,213) 35,896 (21,000) 9,683
I Pape
Director's current account (2) 4,170 (5,000) (832)
I Hunter
Director's current account 1,330 2,500 (3,000) 830
T Simons
Director's current account (4,814) 47,636 (46,000) (3,178)
(8,699) 90,202 (75,000) 6,503
12 Controlling party
The controlling parties are the shareholders.
13 Other information
PICTURE PLAYGROUND PRINT LTD is a private company limited by shares and incorporated in England. Its registered office is:
Magazine 3 Ordnance Yard
Upnor
Rochester
Kent
ME2 4UY
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