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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 28 February 2017 |
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Playle Developments Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 28 February 2017 |
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for |
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Playle Developments Ltd |
Playle Developments Ltd (Registered number: 08236769) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Report of the Accountants | 8 |
Playle Developments Ltd |
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Company Information |
for the Year Ended 28 February 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
5 Bridge Street |
Hereford |
HR4 9DF |
Playle Developments Ltd (Registered number: 08236769) |
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Statement of Financial Position |
28 February 2017 |
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28.2.17 | 29.2.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 5 |
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CURRENT ASSETS |
Inventories |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Playle Developments Ltd (Registered number: 08236769) |
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Statement of Financial Position - continued |
28 February 2017 |
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The financial statements were approved by the Board of Directors on
by: |
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Playle Developments Ltd (Registered number: 08236769) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2017 |
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1. | STATUTORY INFORMATION |
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Playle Developments Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Revenue |
Revenue represents net invoiced sales of property development projects, net of value added tax. |
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In respect of long-term contracts and contracts for on-going services, revenue represents the value of work done |
in the year, including estimates of amounts not invoiced. Revenue in respect of long-term contracts and contracts |
for on-going services is recognised by reference to the stage of completion. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Inventories and work in progress |
Work in progress is valued at the lower of cost and net realisable value. |
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Long-term work in progress is valued in accordance with Financial Reporting Standard 102. Where the outcome |
of such long-term contracts can be assessed with reasonable certainty before their conclusion, the attributable |
profit is calculated on a prudent basis by reference to the stage of completion of the contract activity at the end of |
each reporting period and included in the accounts accordingly. Where the outcome cannot be assessed with |
reasonable certainty before their conclusion, no profit is reflected within the profit and loss account in respect of |
such contracts. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Playle Developments Ltd (Registered number: 08236769) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2017 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
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COST |
At 1 March 2016 |
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Additions |
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At 28 February 2017 |
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DEPRECIATION |
At 1 March 2016 |
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Charge for year |
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At 28 February 2017 |
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NET BOOK VALUE |
At 28 February 2017 |
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At 29 February 2016 |
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Playle Developments Ltd (Registered number: 08236769) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2017 |
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5. | PROPERTY, PLANT AND EQUIPMENT - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 March 2016 |
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Transfer to ownership | ( |
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At 28 February 2017 |
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DEPRECIATION |
At 1 March 2016 |
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Charge for year |
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Transfer to ownership | ( |
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At 28 February 2017 |
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NET BOOK VALUE |
At 28 February 2017 |
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At 29 February 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.17 | 29.2.16 |
£ | £ |
Amounts recoverable on contract |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.17 | 29.2.16 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts (see note 9) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
28.2.17 | 29.2.16 |
£ | £ |
Bank loans |
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Hire purchase contracts (see note 9) |
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Playle Developments Ltd (Registered number: 08236769) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2017 |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under hire purchase fall due as follows: |
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28.2.17 | 29.2.16 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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28.2.17 | 29.2.16 |
£ | £ |
Bank loans |
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The bank loan is secured against the freehold property held for development purposes by the company. |
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11. | FIRST YEAR ADOPTION |
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The Company has prepared these accounts in accordance with FRS 102 for the first time. It has been found that |
no transitional adjustments have been required for this first year of adoption |
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Playle Developments Ltd |
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Report of the Accountants to the Directors of |
Playle Developments Ltd |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary |
statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
accounts of Playle Developments Ltd for the year ended 28 February 2017 as set out on pages 3 to 9 from the company's |
accounting records and from information and explanations you have given us. |
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As a member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other |
professional requirements which are detailed at http://accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of Playle Developments Ltd, as a body, in accordance with the |
terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Playle |
Developments Ltd and state those matters that we have agreed to state to the Board of Directors of Playle Developments |
Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants |
as detailed at http://accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume |
responsibility to anyone other than Playle Developments Ltd and its Board of Directors, as a body, for our work, or for |
this report. |
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It is your duty to ensure that Playle Developments Ltd has kept adequate accounting records and to prepare statutory |
accounts that give a true and fair view of the assets, liabilities, financial position and profit of Playle Developments Ltd. |
You consider that Playle Developments Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the accounts of Playle Developments Ltd. For this |
reason, we have not verified the accuracy or completeness of the accounting records or information and explanations |
you have given to us and we do not, therefore, express any opinion on the statutory accounts. |
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Chartered Certified Accountants |
5 Bridge Street |
Hereford |
HR4 9DF |
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