| Creative Kids Pre-School Day Nursery Limited |
| Registered number: |
03236477 |
| Balance Sheet |
| as at 31 December 2019 |
|
| Notes |
|
|
2019 |
|
|
2018 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
1,020 |
|
|
1,140 |
| Tangible assets |
4 |
|
|
525,271 |
|
|
96,415 |
|
|
|
|
526,291 |
|
|
97,555 |
|
| Current assets |
| Debtors |
5 |
|
1,441,710 |
|
|
1,526,770 |
| Cash at bank and in hand |
|
|
1,167,054 |
|
|
1,299,691 |
|
|
|
2,608,764 |
|
|
2,826,461 |
|
| Creditors: amounts falling due within one year |
6 |
|
(459,777) |
|
|
(523,882) |
|
| Net current assets |
|
|
|
2,148,987 |
|
|
2,302,579 |
|
| Total assets less current liabilities |
|
|
|
2,675,278 |
|
|
2,400,134 |
|
|
| Provisions for liabilities |
|
|
|
(58,546) |
|
|
(13,697) |
|
|
| Net assets |
|
|
|
2,616,732 |
|
|
2,386,437 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
45,200 |
|
|
45,200 |
| Profit and loss account |
|
|
|
2,571,532 |
|
|
2,341,237 |
|
| Shareholders' funds |
|
|
|
2,616,732 |
|
|
2,386,437 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| B Stack |
| Director |
| Approved by the board on 9 September 2020 |
|
| Creative Kids Pre-School Day Nursery Limited |
| Notes to the Accounts |
| for the year ended 31 December 2019 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover consists of revenue earned from the rendering of services. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows: |
|
|
Short leasehold property and Improvements |
10% straight line |
|
Plant and machinery |
25% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2019 |
|
2018 |
| Number |
Number |
|
|
Average number of persons employed by the company |
99 |
|
99 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Domain name: |
|
|
Cost |
|
At 1 January 2019 |
1,200 |
|
At 31 December 2019 |
1,200 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 January 2019 |
60 |
|
Provided during the year |
120 |
|
At 31 December 2019 |
180 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2019 |
1,020 |
|
At 31 December 2018 |
1,140 |
|
|
|
|
|
|
|
|
|
|
The domain name is being written off in equal annual instalments over its estimated economic life of 10 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 January 2019 |
3,290 |
|
381,879 |
|
- |
|
385,169 |
|
Additions |
145,550 |
|
282,837 |
|
72,000 |
|
500,387 |
|
Disposals |
- |
|
(3,601) |
|
- |
|
(3,601) |
|
At 31 December 2019 |
148,840 |
|
661,115 |
|
72,000 |
|
881,955 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2019 |
3,289 |
|
285,465 |
|
- |
|
288,754 |
|
Charge for the year |
14,555 |
|
54,325 |
|
1,500 |
|
70,380 |
|
On disposals |
- |
|
(2,450) |
|
- |
|
(2,450) |
|
At 31 December 2019 |
17,844 |
|
337,340 |
|
1,500 |
|
356,684 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2019 |
130,996 |
|
323,775 |
|
70,500 |
|
525,271 |
|
At 31 December 2018 |
1 |
|
96,414 |
|
- |
|
96,415 |
|
|
|
|
|
|
|
|
|
|
The land and buildings relate solely to short leasehold property and improvements. |
|
|
| 5 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade debtors |
53,381 |
|
67,542 |
|
Directors loan account |
|
|
|
|
999,827 |
|
943,594 |
|
Other debtors |
388,502 |
|
515,634 |
|
|
|
|
|
|
1,441,710 |
|
1,526,770 |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
257,177 |
|
257,177 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade creditors |
62,476 |
|
67,078 |
|
Corporation tax |
80,927 |
|
157,892 |
|
Other taxes and social security costs |
30,873 |
|
67,195 |
|
Other creditors |
285,501 |
|
231,717 |
|
|
|
|
|
|
459,777 |
|
523,882 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
B Stack |
|
Unsecured and interest free loan which is repayable on demand |
471,797 |
|
28,117 |
|
- |
|
499,914 |
|
|
Mrs C Stack |
|
Unsecured and interest free loan which is repayable on demand |
471,797 |
|
28,116 |
|
- |
|
499,913 |
|
|
|
943,594 |
|
56,233 |
|
- |
|
999,827 |
|
|
|
|
|
|
|
|
|
|
On 7 September 2020 the directors repaid £200,000 of this loan. |
|
|
| 8 |
Related party transactions |
2019 |
|
2018 |
| £ |
£ |
|
B Stack and Mrs C Stack |
|
|
Directors and shareholders. |
|
|
|
Directors loan relating to B Stack and Mrs C Stack. The loan is unsecured, interest free and is repayable on demand. |
|
Amount due from the related party |
999,827 |
|
943,594 |
|
|
|
|
|
|
|
|
|
|
|
Sound Advice Audio and Visual Limited |
|
W Stack is a director and shareholder |
|
|
Included within other debtors is a loan due from the related party. The loan is unsecured, interest free and is repayable on demand. |
|
Amount due from the related party |
143,548 |
|
130,836 |
|
|
|
|
|
|
|
|
|
|
Provision against irrecoverable loan |
(143,548) |
|
- |
|
|
|
|
|
|
|
|
|
| 9 |
Controlling party |
|
|
The company is under the control of B Stack. |
|
|
| 10 |
Other information |
|
|
Creative Kids Pre-School Day Nursery Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 4, Limes Court |
|
Conduit Lane |
|
Hoddesdon |
|
Hertfordshire |
|
EN11 8EP |
