Evolution Childcare Franchise Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08162506 (England and Wales)

EVOLUTION CHILDCARE FRANCHISE LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs S J Jones

REGISTERED OFFICE:

232 Hall Street

Warrington

Cheshire

WA1 2BW

REGISTERED NUMBER:

08162506 (England and Wales)

AUDITORS:

Murray Smith LLP

Chartered Accountants

Statutory Auditors

Darland House

44 Winnington Hill

Northwich

Cheshire

CW8 1AU

CURRENT ASSETS

Debtors

4

13,391

985,043

Cash at bank

183

7,353

13,574

992,396

CREDITORS

Amounts falling due within one year

5

179,314

1,193,155

NET CURRENT LIABILITIES

(165,740

)

(200,759

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(165,740

)

(200,759

)

CAPITAL AND RESERVES

Called up share capital

100

100

Profit and loss account

(165,840

)

(200,859

)

(165,740

)

(200,759

)

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 by the director and authorised for issue on 16 December 2020 and were signed by:

Mrs S J Jones - Director

1.	STATUTORY INFORMATION

Evolution Childcare Franchise 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets and liabilities are initially recognised at the transaction price unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future payments discounted at a market rate of interest.

Such assets and liabilities are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

5,819

6,371

Amounts owed by group undertakings

-

961,427

Other debtors

1,775

10,879

Prepayments and accrued income

5,797

6,366

13,391

985,043

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

31,295

6,057

Amounts owed to group undertakings

40,428

983,896

Social security and other taxes

-

3,461

Other creditors

70,794

167,032

Accrued expenses

36,797

32,709

179,314

1,193,155

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Williams (Senior Statutory Auditor)

for and on behalf of Murray Smith LLP

7.	POST BALANCE SHEET EVENTS

The director has considered the impact of COVID-19 on the company, and the wider group as a whole. Forecasts for the 2020 and 2021 financial years have been revised to reflect lower expected revenues as a result of the pandemic, as well as to reflect all measures taken to mitigate the effects. The director expects the cash resources of the group to be sufficient throughout the period considered, and has confirmed that the parent company and other members of the group will continue to provide support to the company for a period of no less than 12 months from the date of approval of the financial statements.

As such, the director considers it appropriate to prepare the financial statements on the going concern basis.

8.	RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of Helium Miracle 157 Limited. The registered office and principal place of business of the parent company is 232 Hall Street, Warrington, Cheshire, WA1 2BW.