Playworks Digital Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10223032

Playworks Digital Ltd

Filleted Unaudited Financial Statements

31 December 2024

Playworks Digital Ltd

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Playworks Digital Ltd

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	2,304	5,165
Investments	6	201,927	201,927
		---------	---------
		204,231	207,092

Current assets

Debtors	7	4,455,545	4,315,058
Cash at bank and in hand		859,595	134,047
		------------	------------
		5,315,140	4,449,105

Creditors: amounts falling due within one year	8	3,522,103	3,078,045
		------------	------------
Net current assets		1,793,037	1,371,060
		------------	------------
Total assets less current liabilities		1,997,268	1,578,152

Creditors: amounts falling due after more than one year	9	15,032	25,053
		------------	------------
Net assets		1,982,236	1,553,099
		------------	------------

Capital and reserves

Called up share capital	157	145
Share premium account	2,560,538	2,560,538
Profit and loss account	( 578,459)	( 1,007,584)
	------------	------------
Shareholders funds	1,982,236	1,553,099
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

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

Playworks Digital Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

J D C Smith

Director

Company registration number: 10223032

Playworks Digital Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Aberdeen House, South Road, Haywards Heath, RH16 4NG, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 January 2024 and 31 December 2024	12,626
	--------
Depreciation
At 1 January 2024	7,461
Charge for the year	2,861
	--------
At 31 December 2024	10,322
	--------
Carrying amount
At 31 December 2024	2,304
	--------
At 31 December 2023	5,165
	--------

6. Investments

	Other investments other than loans
	£
Cost
At 1 January 2024 and 31 December 2024	201,927
	---------
Impairment
At 1 January 2024 and 31 December 2024	–
	---------

Carrying amount
At 31 December 2024	201,927
	---------
At 31 December 2023	201,927
	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	1,461,281	1,671,699
Amounts owed by group undertakings and undertakings in which the company has a participating interest	476,003	409,044
Other debtors	2,518,261	2,234,315
	------------	------------
	4,455,545	4,315,058
	------------	------------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,474,845	1,220,461
Social security and other taxes	59,767	995
Other creditors	1,987,491	1,856,589
	------------	------------
	3,522,103	3,078,045
	------------	------------

Overdrafts and borrowings are secured by way of fixed and floating charges against the assets and undertakings of the company.

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

	2024	2023
	£	£
Bank loans and overdrafts	15,032	25,053
	--------	--------

Overdrafts and borrowings are secured by way of fixed and floating charges against the assets and undertakings of the company.

10. Directors' advances, credits and guarantees

At the year end the company was owed £961 by a director. During the year the company made aggregate advances to a director of £28,013 and repayments of £21,430, and interest of £NIL was charged on the outstanding balance.

11. Controlling party

The ultimate controlling party is GMV Nominees Ltd , by virtue of holding over 50% of the share capital. The registered address of the ultimate parent company is Aberdeen House, South Road, Haywards Heath, England, RH16 4NG .