Futurepath Childcare Ltd - Accounts to registrar (filleted) - small 18.2

Futurepath Childcare Ltd - Accounts to registrar (filleted) - small 18.2

FUTUREPATH CHILDCARE LTD - Company Information

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REGISTERED NUMBER: 07052955 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

FUTUREPATH CHILDCARE LTD
FUTUREPATH CHILDCARE LTD (REGISTERED NUMBER: 07052955)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FUTUREPATH CHILDCARE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2019







DIRECTORS: Mrs J K Barnett
Mr P D Barnett





REGISTERED OFFICE: 12 Croftlands Avenue
Fareham
Hampshire
PO14 2JR





REGISTERED NUMBER: 07052955 (England and Wales)





ACCOUNTANTS: Gibson Whitter
Chartered Accountants
and Chartered Tax Advisers
Larch House
Parklands Business Park
Denmead
Hampshire
PO7 6XP
Page 1
FUTUREPATH CHILDCARE LTD (REGISTERED NUMBER: 07052955)

BALANCE SHEET
31 OCTOBER 2019

31.10.19 31.10.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 100,178 109,990

CURRENT ASSETS
Debtors 5 714,796 736,808
Cash at bank and in hand 82,278 38,414
797,074 775,222
CREDITORS
Amounts falling due within one year 6 364,438 477,023
NET CURRENT ASSETS 432,636 298,199
TOTAL ASSETS LESS CURRENT
LIABILITIES
532,814
408,189

PROVISIONS FOR LIABILITIES 8 3,759 3,689
NET ASSETS 529,055 404,500

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 528,055 403,500
SHAREHOLDERS' FUNDS 529,055 404,500

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 and authorised for issue by the Board of Directors on
19 February 2020 and were signed on its behalf by:




Mrs J K Barnett - Director


The notes form part of these financial statements

Page 2
FUTUREPATH CHILDCARE LTD (REGISTERED NUMBER: 07052955)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2019

1. STATUTORY INFORMATION

Futurepath Childcare 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.

Turnover
Turnover represents both fee invoices to parents and local authority contributions, excluding value
added tax. Revenue is recognised in the month in which the service is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 25% on cost and Straight line over 25 years

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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2018 - 46 ) .

Page 3 continued...
FUTUREPATH CHILDCARE LTD (REGISTERED NUMBER: 07052955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2019

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2018
and 31 October 2019 208,940
DEPRECIATION
At 1 November 2018 98,950
Charge for year 9,812
At 31 October 2019 108,762
NET BOOK VALUE
At 31 October 2019 100,178
At 31 October 2018 109,990

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.19 31.10.18
£    £   
Trade debtors 26,605 26,593
Other debtors 688,191 710,215
714,796 736,808

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.19 31.10.18
£    £   
Trade creditors 19,753 18,484
Taxation and social security 37,335 104,770
Other creditors 307,350 353,769
364,438 477,023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.19 31.10.18
£    £   
Within one year 83,000 79,000
Between one and five years 83,750 157,417
166,750 236,417

8. PROVISIONS FOR LIABILITIES
31.10.19 31.10.18
£    £   
Deferred tax 3,759 3,689

Page 4 continued...
FUTUREPATH CHILDCARE LTD (REGISTERED NUMBER: 07052955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2019

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2018 3,689
Provided during year 70
Balance at 31 October 2019 3,759

9. RELATED PARTY DISCLOSURES

The aggregate amount owed by the directors at the balance sheet date is £58,271 (31.10.18: owed to
£4,670).

The aggregate amount due from connected companies at the balance sheet date is £506,450
(31.10.18: £598,833).

During the year the company paid rent and management charges to a connected company totalling
£57,088 (31.10.18: £82,900).

The company has provided a fixed and floating charge over its assets on behalf of a connected
company.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P D and Mrs J K Barnett.

Page 5