Daisy Chain Day Care Nurseries Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04663138 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Daisy Chain Day Care Nurseries Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs A C Sanderson

SECRETARY:

Mrs A C Sanderson

REGISTERED OFFICE:

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

REGISTERED NUMBER:

04663138 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Intangible assets

4

70,500

94,000

Tangible assets

5

35,107

42,496

105,607

136,496

CURRENT ASSETS

Debtors

126,106

127,213

Cash at bank

68,501

26,228

194,607

153,441

CREDITORS

Amounts falling due within one year

189,999

179,674

NET CURRENT ASSETS/(LIABILITIES)

4,608

(26,233

)

TOTAL ASSETS LESS CURRENT LIABILITIES

110,215

110,263

CREDITORS

Amounts falling due after more than one year

(107,534

)

(19,493

)

PROVISIONS FOR LIABILITIES

(2,423

)

(3,013

)

NET ASSETS

258

87,757

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

158

87,657

SHAREHOLDERS' FUNDS

258

87,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 16 September 2019 and were signed by:

Mrs A C Sanderson - Director

1.	STATUTORY INFORMATION

Daisy Chain Day Care Nurseries Ltd 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.

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.

The financial statements have been prepared on a going concern basis. The company has net current liabilities in

the current and previous year. No adjustments have been made that may have been found necessary if any other

basis of preparation had been used. The directors are reliant on the continued financial support of the bank and

are of the opinion that this support will be maintained and the trading performance will improve over the next 12

months.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Additional goodwill, paid in connection with the acquisition of a business in 2012, is being amortised evenly

over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Government grants

Government grants received in respect of expenditure charged to the profit and loss account during the year have

been included in profit and loss.The remainder are deferred and included in the profit and loss account by

instalments over the expected useful lives of the related assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2018 - 39 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

and 31 March 2019

365,000

AMORTISATION

At 1 April 2018

271,000

Amortisation for year

23,500

At 31 March 2019

294,500

NET BOOK VALUE

At 31 March 2019

70,500

At 31 March 2018

94,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

127,418

Additions

2,995

At 31 March 2019

130,413

DEPRECIATION

At 1 April 2018

84,922

Charge for year

10,384

At 31 March 2019

95,306

NET BOOK VALUE

At 31 March 2019

35,107

At 31 March 2018

42,496

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2018

and 31 March 2019

25,000

DEPRECIATION

At 1 April 2018

6,250

Charge for year

4,688

At 31 March 2019

10,938

NET BOOK VALUE

At 31 March 2019

14,062

At 31 March 2018

18,750

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31/3/19

31/3/18

£

£

Net obligations repayable:

Within one year

2,575

2,419

Between one and five years

16,918

19,493

19,493

21,912

Non-cancellable operating

leases

31/3/19

31/3/18

£

£

Within one year

-

28,350

7.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/19

31/3/18

£

£

Bank overdrafts

106,418

94,713

Bank loans

2,828

11,012

Hire purchase contracts

19,493

21,912

128,739

127,637

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/19

31/3/18

value:

£

£

50

Ordinary "A"

£1

50

50

50

Ordinary "B"

£1

50

50

100

100

Both classes of ordinary share rank pari passu save that the directors may declare dividends of different amounts

and at different times on each class of ordinary shares.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2019 and

31 March 2018:

31/3/19

31/3/18

£

£

Mrs A C Sanderson and M Sanderson

Balance outstanding at start of year

106,098

67,105

Amounts advanced

117,076

130,134

Amounts repaid

(111,522

)

(91,141

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

111,652

106,098

Interest has been charged at 2.50% on the overdrawn loan account.