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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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PLAYFORDS LIMITED
COMPANY INFORMATION
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PLAYFORDS LIMITED
CONTENTS
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PLAYFORDS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their strategic report for the year ended 31 December 2024.
The principal activity of the Company in the year under review was that of Mechanical and Electrical contractors, along with voice and data cabling installations.
Financial year ending 31 December 2024 was a successful year for the company. Despite operational challenges like inflationary pressures and the need for stability, our cost levels have begun to balance out, creating a favourable environment that enabled us to deliver a successful outcome. Ongoing political disruption has meant that we continue to see extremely long timescales for decision-making to take place and a number of tenders taking a long time to be awarded, which has resulted in revenue remaining at a similar level to the previous period.
Our continued focus on process and procedure improvement across our delivery and estimating is now reflected within our profitability. Ongoing focus and alignment to our new improved working methods and technologies have resulted in gross profit increasing to £2,918,201, which is a 27.4% increase on the previous year. This increase in gross profit is a direct result of the improvements and refinements made previously to the business operations. Enquiry levels in the current year remained strong and consistent with previous years; however, as previously mentioned, decision-making timescales have increased considerably, and we spent considerable periods of the year waiting for works to be awarded. This resulted in several projects being awarded at the back end of the year and start of the new year, which had been tendered for throughout 2024. However, we can still see the effects of our revised estimating and tendering processes showing results with a strong win rate of 1:6 tenders being successful. This is slightly less than we achieved in 2023 at 1:4.3, however, with a number of projects being awarded in the first couple of months in 2025, we will expect to see our tender success rate improve again. The company secured its largest ever order at the beginning of 2025 worth £19.35m which will be delivered across the next three financial years. As a result, we start the year on a great platform. This new project is a direct result of our previous efforts and aligns exactly with our goals. Awarded directly by an NHS trust in London, we will operate as Main Contractor to deliver this expansive project. The outlook for 2025 is excellent. A lot of tender success at the start of 2025 has seen our forecasts show continued growth. Further to this, we will also continue to focus on our small works area of the business, which continues to exceed our growth projections and plans. We continue to refine and monitor our operations and working practices to keep Playfords operating efficiently and productively. An ongoing plan to improve Playfords operations is now well established and underway, and continual investment is being made into training and technology to further improve Playfords operational efficiencies. The company maintains its support of the local communities through charitable donations, sponsorships and supports the communities through local employment, particularly young people via apprenticeships. Playfords apprenticeship programme reaps great benefits and is a vital source of the company’s recruitment policy, which will see further apprentices employed in 2025. In summary, it was a successful year for the business where we saw a profitable return on the business operations and significant contract success to benefit us in 2025. The increase in gross profit and forecasted future revenue place us in a position whereby we will now begin to grow the overall business in line with our growth plans.
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PLAYFORDS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
We fully expect our turnover and margin to continue in line with our projections and targets for 2025, with a very strong order book for the year already in place, having already secured various projects within key sectors for the business. Contracts secured for a major new generator project at a London Hospital worth £19.35m, multiple electrical and HVAC projects worth c£600k, multiple projects for a large retail client across their distribution warehouses worth c£700k and a further project for one our key clients in East Anglia worth £1.5m are a few of the recent project awards we have seen, which will be completed within 2025 and beyond.
The board of directors continues to monitor and manage the risks and uncertainties to the business and has identified the following:
i) UK Economy
Ongoing uncertainty within the UK economy continues to create instability and uncertainty. Stubborn inflation rates and interest rates mean costs continue to increase, and investments into new projects are being delayed. ii) Increasing Staff Costs National insurance increases across the business have added a considerable additional cost to our overhead and provide further difficulty in introducing new staff to the team. These additional costs cannot be simply absorbed within our operations and must be passed onto our clients, who in turn are also experiencing increased cost from this measure, making securing additional works more difficult. iii) UK Political Landscape Uncertainties Continued uncertainty around the government’s plans for the country means that many of our clients are unwilling to risk certain decisions on projects until such time as certainty is confirmed. This is causing significant delay and difficulty being awarded work from public sector clients. iv) Construction Industry Payment Practices Poor payment practices within the construction sector remain, and while we have changed our business to ensure we are protected and avoid working with such clients whenever possible, they still pose a significant risk. With main contractors manipulating payment dates and values, poor treatment of supply chain, and the ongoing issues with retentions in our industry, the sector is becoming extremely risky to operate within. Pressures on cash and managing relations with supply chain are increasingly difficult. Playfords has continued to manage risk and select carefully where we choose to tender and bid for work, considering the risks associated with engaging with certain main contractors. Further to this the Companies uses financial instruments such as a debtors, creditors and payments on account in order to raise finance for the Companies operations. These instruments expose the Company to financial risks which are detailed below:
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PLAYFORDS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
i)Price risk
Wherever possible we look to pass on any increases in costs, when an increase can be seen, consideration to bulk buying at favourable prices is considered.
ii)Credit risk
The principal credit risk for the Company arises from its trade and other debtors, in particular reference to final retentions. To ensure this risk is managed effectively the directors set limits for customers based on payment history and have tight control on retentions. Credit limits are reviewed by the credit controller on a regular basis in conjunction with debt aging and collection history.
iii)Liquidity risk
The Company seeks to manage this risk by ensuring sufficient liquidity is available to meet its foreseeable needs.
iv)Cash flow risk
The Company's exposure to cash flow risk stems from the environment and industry in which it operates. Where appropriate, the Company leverages its customer and supplier relationships to manage this risk, while also considering the need for financing.
The Directors believe the Company’s financial key performance indicators are:
1) Turnover
2) Gross profit
3) Gross profit margin (%)
4) Profit for the financial year
5) Net profit margin for the financial year (%)
As we target future growth, we have introduced the ability to deliver Heating, Ventilation and Air Conditioning (HVAC) works in-house, further strengthening our offering to our clients and growing our own operations to deliver these services. In its infancy, we expect this area of the business to establish itself over the next 12–18 months. With plans to recruit additional skilled labour resource and establish ourselves within the marketplace well underway, we have already delivered our first HVAC projects for existing clients.
In addition, at the start of 2025, Playfords introduced a new Customer Relationship Manager Tool (CRM) to provide greater management of our clients and opportunities as well as provide clear data allowing us to focus our business in the most beneficial areas and monitor and use data on our tendering and small works performance. This data will provide greater insight into future forecasting and planning and also allow us to make even better decisions when it comes to tender opportunities by using previous data to align our proposals to our clients and enhance our chances of success.
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PLAYFORDS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Following the introduction of our new CRM, we have also employed a new Business Development Manager to help to drive the business forward and build greater client and supply chain relationships, as well as manage and monitor the information from our CRM system to help focus the business on the right opportunities. In addition, our new Business Development Manager is working with the team to help get our HVAC operations running, building key supply chain relationships, and seeking new opportunities to allow us to open this market place for the business.
As the company enters its 100th Year in 2025 the outlook is excellent. A lot of tender success at the start of 2025 has seen our forecasts show continued growth. Further to this, we will also continue to focus on our small works area of the business, which continues to exceed our growth projections and plans. We continue to refine and monitor our operations and working practices to keep Playfords operating efficiently and productively. An ongoing plan to improve Playfords operations is now well established and underway, and continual investment is being made into training and technology to further improve Playfords operational efficiencies.
This report was approved by the board and signed on its behalf.
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PLAYFORDS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £240,210 (2023 - £217,883).
Particulars of dividends paid are detailed in note 13 to the financial statements.
The directors who served during the year were:
The Directors have chosen to include the following items in the Strategic report:
∙Financial instruments (included within the principal risk and uncertainties)
∙Future developments
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PLAYFORDS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Under section 487(2) of the Companies Act 2006, MHA will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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PLAYFORDS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PLAYFORDS LIMITED
We have audited the financial statements of Playfords Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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PLAYFORDS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PLAYFORDS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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PLAYFORDS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PLAYFORDS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙Enquiry of management and those charged with governance around actual and potential litigation and claims;
∙Enquiry of staff to identify any instances of non-compliance with laws and regulations;
∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness and reviewing accounting estimates for bias;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of MHA, Statutory Auditor
Date:
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)
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PLAYFORDS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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PLAYFORDS LIMITED
REGISTERED NUMBER: 00203301
BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 31 form part of these financial statements.
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PLAYFORDS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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PLAYFORDS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Playfords Limited ("the Company") is a private company limited by shares, incorporated in England and Wales under the Companies Act. The registered number and address of the registered office are given in the Company information.
The nature of the Company's operations and its principal activities are set out in the Strategic Report on page 1.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The functional and presentational currency of the Company is pounds sterling (£) and rounded to the nearest whole pound.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Jaanda Holdings Limited as at 31 December 2024 and these financial statements may be obtained from Companies House.
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The financial statements have been prepared on a going concern basis. In forming this view, the directors have undertaken a comprehensive assessment of the entity’s financial position and future forecasts. This assessment included a review of the annual budget, detailed cash flow forecasts, and consideration of both internal and external factors that could impact the business. The directors also evaluated the potential effects of events occurring after the reporting date.
Based on this review, and taking into account the financial resources currently available to the entity, cash availability, liquidity headroom, and the strength of its customer and supplier relationships, the directors have not identified any material uncertainties that may cast significant doubt on the entity’s ability to continue as a going concern. Accordingly, the directors consider it appropriate to adopt the going concern basis in preparing the annual report and financial statements. Turnover from long term contracts are recognised using the stage of completion method. The stage of completion is determined by reference to the proportion of contract costs incurred to date relative to the total estimated costs of the contract. Where billing is ahead of contract completion, a creditor is recognised and classified as payments received on account, representing income that has not yet been recognised. Conversely, when billing lags behind contract completion, a debtor is recognised and classified as amounts recoverable on contracts, representing income that has been earned but not yet invoiced. Turnover and the associated profit are recognised only when they are virtually certain. Where this level of certainty is not met, both turnover and costs are deferred and held on the balance sheet until the criteria for recognition are satisfied. Where a contract is expected to result in a loss, a provision is made immediately for the full amount of the anticipated loss. Turnover from other contracts is recognised once the performance obligations under the contract have been fully satisfied.
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
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 the deduction of all its liabilities.
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Below is a summary of the key judgements and estimates included within these accounting policies. Judgement is applied in the recognition of turnover on other non-long term contracts. These are recognised at the point of completion, the Directors have considered this judgement appropriate due to the short term nature and small value to these contracts. Recognition of turnover and profit on long term contracts requires management judgement regarding the anticipated final outcome of contract costs. Management undertakes detailed reviews in order to estimate the total forecasted cost with regular review undertaken by management to ensure the estimation is up to date. Consistent procedures and management tools are in place to ensure that estimates are applied, and results determined on a consistent basis. The calculation of the snagging provision requires significant estimation on a case-by-case basis to assess any potential costs that may arise following completion, within a period of up to 12 months. Management undertakes reviews of these contracts and, where deemed necessary, allocates an estimated provision for such costs.
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 22
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 23
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 24
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12.Taxation (continued)
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 26
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 27
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 28
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
20.Deferred taxation (continued)
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Share premium account
Profit and loss account
Page 30
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PLAYFORDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company has provided a Guarantee in respect of the bank loan held by its parent, Jaanda Holdings Limited. As at the 31 December 2024, the Company had guaranteed £298,150 (2023: £nil), representing the full amount due to Barclays Bank PLC. The guarantee is secured by a cross guarantee between the Company and its parent, as well as a charge over the parent's freehold property to which it relates.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £78,687 (2023: £114,635). Contributions totalling £20,362 (2023: £20,316) were payable to the fund at the Balance sheet date.
The Company's immediate and ultimate parent undertaking is Jaanda Holdings Limited, a company incorporated in England and Wales which holds all of the issued shares in the Company. The registered office of Jaanda Holdings Limited is 18 Blackstone Road, Huntingdon, Cambridgeshire PE29 6EF.
The ultimate controlling party is Mr J A Tuohy.
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