Abbreviated Company Accounts - NEW DUSTON PRE-SCHOOL LIMITED

Abbreviated Company Accounts - NEW DUSTON PRE-SCHOOL LIMITED


Registered Number 05722206

NEW DUSTON PRE-SCHOOL LIMITED

Abbreviated Accounts

28 February 2015

NEW DUSTON PRE-SCHOOL LIMITED Registered Number 05722206

Abbreviated Balance Sheet as at 28 February 2015

Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 9,800 14,700
Tangible assets 3 359,498 353,371
369,298 368,071
Current assets
Debtors 4 103,368 108,717
Cash at bank and in hand 174,908 148,652
278,276 257,369
Creditors: amounts falling due within one year (69,260) (57,391)
Net current assets (liabilities) 209,016 199,978
Total assets less current liabilities 578,314 568,049
Creditors: amounts falling due after more than one year (112,000) (120,000)
Provisions for liabilities (14,406) (9,588)
Total net assets (liabilities) 451,908 438,461
Capital and reserves
Called up share capital 5 100 100
Profit and loss account 451,808 438,361
Shareholders' funds 451,908 438,461
  • For the year ending 28 February 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 19 May 2015

And signed on their behalf by:
Mrs S Wigley, Director
Mr C Wigley, Director

NEW DUSTON PRE-SCHOOL LIMITED Registered Number 05722206

Notes to the Abbreviated Accounts for the period ended 28 February 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the value, net of value added tax and discounts, of pre-school services provided to customers and in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Land and buidlings Straight line over 20 years
Plant and machinery 25% reducing balance
Fixtures and fittings 20% reducing balance
Computer equipment 33% straight line
Motor vehicles 25% reducing balance

Intangible assets amortisation policy
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful remaining life of five years.

Other accounting policies
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Grants
Grants of a revenue nature are credited to the profit and loss account in the year which they accrue. Grants for the purchase of fixed assets are treated as deferred income and credited to the profit and loss account over the estimated useful life of the relevant assets.

2Intangible fixed assets
£
Cost
At 1 March 2014 35,000
Additions -
Disposals -
Revaluations -
Transfers -
At 28 February 2015 35,000
Amortisation
At 1 March 2014 20,300
Charge for the year 4,900
On disposals -
At 28 February 2015 25,200
Net book values
At 28 February 2015 9,800
At 28 February 2014 14,700
3Tangible fixed assets
£
Cost
At 1 March 2014 476,951
Additions 43,961
Disposals (1,284)
Revaluations -
Transfers -
At 28 February 2015 519,628
Depreciation
At 1 March 2014 123,580
Charge for the year 37,274
On disposals (724)
At 28 February 2015 160,130
Net book values
At 28 February 2015 359,498
At 28 February 2014 353,371
4Debtors

Debtors 2015 2014
£ £

Trade debtors 5,644 7,518
Other debtors 97,724 101,199
103,368 108,717

Included in Debtors: amounts falling due within one year is £9,326 (2014: £12,858)
owed to the company by Mrs S Wigley and £9,497 (2014: £12,593) owed to the company
by Mr C Wigley. Interest is charged on the loans to the directors and the loans were fully repaid
after the balance sheet date.

5Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
50 A Ordinary shares of £1 each 50 50
50 B Ordinary shares of £1 each 50 50

6Transactions with directors

Name of director receiving advance or credit: Mrs S Wigley
Description of the transaction: Director's Loan Account
Balance at 1 March 2014: £ 12,858
Advances or credits made: £ 52,468
Advances or credits repaid: £ 56,000
Balance at 28 February 2015: £ 9,326

Name of director receiving advance or credit: Mr C Wigley
Description of the transaction: Director's Loan Account
Balance at 1 March 2014: £ 12,593
Advances or credits made: £ 52,904
Advances or credits repaid: £ 56,000
Balance at 28 February 2015: £ 9,497

These loans were fully repaid after the balance sheet date.