Bright Start Day Care Limited - Accounts to registrar (filleted) - small 18.2
Bright Start Day Care Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| BRIGHT START DAY CARE LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 |
| BRIGHT START DAY CARE LIMITED (REGISTERED NUMBER: 05588231) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 6 |
| BRIGHT START DAY CARE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants and Tax Advisors |
| 26 Main Avenue |
| Moor Park |
| HA6 2HJ |
| BRIGHT START DAY CARE LIMITED (REGISTERED NUMBER: 05588231) |
| BALANCE SHEET |
| 31 MARCH 2020 |
| 31.3.20 | 31.3.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
| PROVISIONS FOR LIABILITIES |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on signed on its behalf by: |
| BRIGHT START DAY CARE LIMITED (REGISTERED NUMBER: 05588231) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 1. | STATUTORY INFORMATION |
| Bright Start Day Care Limited is a |
| 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 |
| Going concern |
| The company meets its day-to-day working capital requirements through its bank facility. After making enquiries, the |
| directors have a reasonable expectation that the company has adequate resources to continue in operational |
| existence for the foreseeable future; taken to be 12 months after signing the financial statements. The company |
| therefore continues to adopt the going concern basis in preparing its financial statements. |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of services supplied. Services represent day care |
| facilities for children of early years. Turnover is measured as the fair value of the consideration received or receivable, |
| excluding discounts, rebates and other sales taxes. Turnover is wholly attributable to the principal activity of the |
| company and arises solely within the United Kingdom. |
| Revenue is recognised in the period in which the services are provided based on attendance at the day care |
| premises. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| All assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation. The cost of |
| an asset initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset |
| to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Financial instruments |
| a) Debtors |
| Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
| arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future |
| receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the |
| effective interest method, less any impairment. |
| b) Creditors |
| Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, |
| are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the |
| debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such |
| instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
| c) Cash at bank and in hand |
| Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other |
| short-term highly liquid investments that mature in no more than three months from the date of acquisition and that |
| are readily convertible to known amounts of cash with insignificant risk of change in value. |
| d) Interest income |
| Interest income is recognised in profit or loss using the effective interest method. |
| BRIGHT START DAY CARE LIMITED (REGISTERED NUMBER: 05588231) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as |
| other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive |
| income or directly in equity respectively. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the |
| balance sheet date, except that: |
| - | the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
| - | any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted |
| by the balance sheet date. |
| 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 |
| Following the government's introduction of automatic pension enrolment during 2013. the company has joined the |
| authorised master trust The People's Pension (PP) pension scheme. The company's employees have joined the |
| independently administered pension scheme. Employees contract directly with the pension scheme, and assets of |
| those schemes are held separately from those of the company. The company acts as agent in collecting and paying |
| over employee pension contributions. Once the contributions have been paid, the company as employer has no |
| further obligations. As a defined contribution scheme, the cost to the company of participating in the PP scheme is |
| taken as equal to the contributions to the scheme for the reporting period. |
| At the reporting date, contributions outstanding amounted to £595 (2019: £535). |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2019 |
| Additions |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Other debtors |
| BRIGHT START DAY CARE LIMITED (REGISTERED NUMBER: 05588231) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.20 | 31.3.19 |
| £ | £ |
| Bank loan and overdraft |
| Taxation and social security |
| Other creditors |
| 7. | POST BALANCE SHEET EVENTS |
| The COVID-19 pandemic existed at the balance sheet date, although the scale of the pandemic and associated |
| government policy response only began to become clear in the months following the company's financial year. The |
| directors have considered the effect of the COVID-19 pandemic on the company's activities. This event is likely to |
| cause significant disruption to the company's activities, but at the date of the approval of these financial statements, |
| the extent and quantum of the disruptions remains uncertain. |
| 8. | ULTIMATE CONTROLLING PARTY |
| At the reporting date, the directors consider there is no single controlling party. There has been no change between |
| the reporting date and date of approval of the financial statements. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| BRIGHT START DAY CARE LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a |
| Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
| Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
| statements of Bright Start Day Care Limited for the year ended 31 March 2020 which comprise the Profit and Loss account, |
| Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Bright Start Day Care Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bright Start Day Care Limited and state those matters that we have agreed to state to the Board of Directors of Bright Start Day Care Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bright Start Day Care Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Bright Start Day Care 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 loss of Bright Start Day Care Limited. You consider that Bright Start Day Care 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 Bright Start Day Care 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. |
| Chartered Accountants and Tax Advisors |
| 26 Main Avenue |
| Moor Park |
| HA6 2HJ |