Brittons Daycare Limited Company accounts

Brittons Daycare Limited Company accounts

BRITTONS DAYCARE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08640035
Brittons Daycare Limited
Unaudited Financial Statements
31 March 2019
Brittons Daycare Limited
Financial Statements
Year ended 31 March 2019
Contents
Page
Officers and professional advisers
1
Director's report
2
Statement of comprehensive income
3
Statement of financial position
4
Statement of changes in equity
6
Notes to the financial statements
7
The following pages do not form part of the financial statements
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
12
Brittons Daycare Limited
Officers and Professional Advisers
Director
Mr S Sergeant
Company secretary
Mrs S Sergeant
Registered office
20 Firs Walk
Tewin
Welwyn
Hertfordshire
England
AL6 0NZ
Accountants
Edmund Carr LLP
Chartered Accountants
146 New London Road
Chelmsford
Essex
CM2 0AW
Brittons Daycare Limited
Director's Report
Year ended 31 March 2019
The director presents his report and the unaudited financial statements of the company for the year ended 31 March 2019 .
Director
The director who served the company during the year was as follows:
Mr S Sergeant
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 15 November 2019 and signed on behalf of the board by:
Mr S Sergeant
Director
Registered office:
20 Firs Walk
Tewin
Welwyn
Hertfordshire
England
AL6 0NZ
Brittons Daycare Limited
Statement of Comprehensive Income
Year ended 31 March 2019
2019
2018
Note
£
£
Turnover
82,378
92,584
Cost of sales
6,857
8,690
--------
--------
Gross profit
75,521
83,894
Administrative expenses
74,432
79,832
--------
--------
Operating profit
1,089
4,062
Other interest receivable and similar income
19
19
--------
--------
Profit before taxation
1,108
4,081
Tax on profit
390
1,230
-------
-------
Profit for the financial year and total comprehensive income
718
2,851
-------
-------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
Brittons Daycare Limited
Statement of Financial Position
31 March 2019
2019
2018
Note
£
£
£
£
Fixed assets
Intangible assets
5
–
960
Tangible assets
6
1,641
1,626
-------
-------
1,641
2,586
Current assets
Debtors
7
3,387
1,061
Cash at bank and in hand
12,110
15,843
--------
--------
15,497
16,904
Creditors: amounts falling due within one year
8
1,670
2,740
--------
--------
Net current assets
13,827
14,164
--------
--------
Total assets less current liabilities
15,468
16,750
--------
--------
Net assets
15,468
16,750
--------
--------
Capital and reserves
Called up share capital
9
10
10
Profit and loss account
15,458
16,740
--------
--------
Shareholders funds
15,468
16,750
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Brittons Daycare Limited
Statement of Financial Position (continued)
31 March 2019
These financial statements were approved by the board of directors and authorised for issue on 15 November 2019 , and are signed on behalf of the board by:
Mr S Sergeant
Director
Company registration number: 08640035
Brittons Daycare Limited
Statement of Changes in Equity
Year ended 31 March 2019
Called up share capital
Profit and loss account
Total
£
£
£
At 1 April 2017
1
18,889
18,890
Profit for the year
2,851
2,851
----
--------
--------
Total comprehensive income for the year
–
2,851
2,851
Issue of shares
9
–
9
Dividends paid and payable
–
( 5,000)
( 5,000)
----
--------
--------
Total investments by and distributions to owners
9
( 5,000)
( 4,991)
At 31 March 2018
10
16,740
16,750
Profit for the year
718
718
----
--------
--------
Total comprehensive income for the year
–
718
718
Dividends paid and payable
–
( 2,000)
( 2,000)
----
-------
-------
Total investments by and distributions to owners
–
( 2,000)
( 2,000)
----
--------
--------
At 31 March 2019
10
15,458
15,468
----
--------
--------
Brittons Daycare Limited
Notes to the Financial Statements
Year ended 31 March 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 87 Burnham Green Road, Welwyn, Hertfordshire, AL6 0NH, England. The place of business for the company is Brittons Academy, Ford Lane, Rainham RM13 7B
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.
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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Equipment
-
20% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2018: 9 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2018 and 31 March 2019
11,500
--------
Amortisation
At 1 April 2018
10,540
Charge for the year
960
--------
At 31 March 2019
11,500
--------
Carrying amount
At 31 March 2019
–
--------
At 31 March 2018
960
--------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2018
3,428
3,428
Additions
769
769
-------
-------
At 31 March 2019
4,197
4,197
-------
-------
Depreciation
At 1 April 2018
1,802
1,802
Charge for the year
754
754
-------
-------
At 31 March 2019
2,556
2,556
-------
-------
Carrying amount
At 31 March 2019
1,641
1,641
-------
-------
At 31 March 2018
1,626
1,626
-------
-------
7. Debtors
2019
2018
£
£
Prepayments and accrued income
1,170
–
Director's loan account
1,697
–
Other debtors
520
1,061
-------
-------
3,387
1,061
-------
-------
8. Creditors: amounts falling due within one year
2019
2018
£
£
Accruals and deferred income
1,280
1,155
Corporation tax
390
1,229
Director loan accounts
–
356
-------
-------
1,670
2,740
-------
-------
9. Called up share capital
Issued, called up and fully paid
2019
2018
No.
£
No.
£
Ordinary shares of £ 1 each
10
10
10
10
----
----
----
----
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2019
2018
£
£
Not later than 1 year
1,170
1,170
-------
-------
11. Director's advances, credits and guarantees
At the year end the director owed £1,697 (2018: £356 owed to the director) to the company in the form of a loan. This loan is interest free and was repaid on 15/10/19.
Brittons Daycare Limited
Management Information
Year ended 31 March 2019
The following pages do not form part of the financial statements.
Brittons Daycare Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Brittons Daycare Limited
Year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brittons Daycare Limited for the year ended 31 March 2019, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Brittons Daycare Limited in accordance with the terms of our engagement letter dated 2 October 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Brittons Daycare Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brittons Daycare Limited and its director for our work or for this report.
It is your duty to ensure that Brittons Daycare Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Brittons Daycare Limited. You consider that Brittons Daycare Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Brittons Daycare Limited. 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 financial statements.
Edmund Carr LLP Chartered Accountants
146 New London Road Chelmsford Essex CM2 0AW
22 November 2019