Top Class Nursery Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07441333 (England and Wales)

Financial Statements for the Year Ended 20 December 2018

for

Top Class Nursery Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs E Ludden

T Ludden

REGISTERED OFFICE:

Dukes and Duchesses Private Day Nursery

Dukes Terrace

Duke Street

Liverpool

Merseyside

L1 4JS

REGISTERED NUMBER:

07441333 (England and Wales)

ACCOUNTANTS:

Cobham Murphy

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Investments

3

960,000

960,000

Investment property

4

1,000,000

1,000,000

1,960,000

1,960,000

CURRENT ASSETS

Debtors

5

446,885

410,150

Cash at bank

5,697

42

452,582

410,192

CREDITORS

Amounts falling due within one year

6

359,584

370,462

NET CURRENT ASSETS

92,998

39,730

TOTAL ASSETS LESS CURRENT LIABILITIES

2,052,998

1,999,730

CREDITORS

Amounts falling due after more than one year

7

(345,766

)

(301,073

)

PROVISIONS FOR LIABILITIES

(264,852

)

(264,852

)

NET ASSETS

1,442,380

1,433,805

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,442,280

1,433,705

SHAREHOLDERS' FUNDS

1,442,380

1,433,805

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 20 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 20 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 September 2019 and were signed on its behalf by:

T Ludden - Director

1.	STATUTORY INFORMATION

Top Class Nursery Holdings Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts

recognised in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable on net rental income,

excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised as the rents become

due.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

The investment property is measured at fair value. Gains and losses arising from changes in the fair value of

investment properties are included in the profit and loss in the period in which they arise.

Deferred tax is charged to the profit and loss if the fair value of investment properties is higher than cost.

Financial instruments

Other loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are

measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit

and loss.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 21 December 2017

and 20 December 2018

960,000

NET BOOK VALUE

At 20 December 2018

960,000

At 20 December 2017

960,000

Cost or valuation at 20 December 2018 is represented by:

Shares in

group

undertakings

£

Valuation in 2016

870,000

Cost

90,000

960,000

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 21 December 2017

and 20 December 2018

1,000,000

NET BOOK VALUE

At 20 December 2018

1,000,000

At 20 December 2017

1,000,000

Fair value at 20 December 2018 is represented by:

£

Valuation in 2016

454,261

Cost

545,739

1,000,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

20.12.18

20.12.17

£

£

Other debtors

446,885

410,150

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

20.12.18

20.12.17

£

£

Bank loans and overdrafts

39,737

28,919

Amounts owed to group undertakings

225,848

237,286

Taxation and social security

92,559

102,819

Other creditors

1,440

1,438

359,584

370,462

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

20.12.18

20.12.17

£

£

Bank loans

345,766

301,073

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

195,807

185,398

8.	SECURED DEBTS

The following secured debts are included within creditors:

20.12.18

20.12.17

£

£

Bank loans

385,503

329,992

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors operate a current account to which transactions of a private nature are posted. As at the year end

an amount of £335,875, (2017 £305,879) and £27,800 (2017 £27,800) was included in other debtors, in respect

of Mrs E Ludden and Mr T Ludden respectively. Interest has been charged at 3%.

10.	RELATED PARTY DISCLOSURES