Jelly Beans Day Nursery Ashford Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08053550 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

JELLY BEANS DAY NURSERY ASHFORD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

R S Rai MPS

Registered office:

Coopers House

65a Wingletye Lane

Hornchurch

Essex

RM11 3AT

Registered number:

08053550 (England and Wales)

Accountants:

Haines Watts Essex LLP

Chartered Accountants

Coopers House

65a Wingletye Lane

Hornchurch

Essex

RM11 3AT

Fixed assets

Intangible assets

4

141,577

204,577

Tangible assets

5

1,601,206

1,625,717

1,742,783

1,830,294

Current assets

Debtors

6

41,043

29,417

Cash at bank and in hand

167,502

131,305

208,545

160,722

Creditors

Amounts falling due within one year

7

2,719,553

2,619,909

Net current liabilities

(2,511,008

)

(2,459,187

)

Total assets less current liabilities

(768,225

)

(628,893

)

Capital and reserves

Called up share capital

8

100

100

Retained earnings

9

(768,325

)

(628,993

)

Shareholders' funds

(768,225

)

(628,893

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 21 December 2020 and were signed by:

R S Rai MPS - Director

1.	Statutory information

Jelly Beans Day Nursery Ashford Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover

Turnover represents fees due for the period, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on buildings and nil on land

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Going concern

The financial statements have been prepared on a going concern basis on the grounds that the company will continue to receive support from its related parties.

3.	Employees and directors

The average number of employees during the year was NIL (2019 - 25 ).

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2019

and 31 March 2020

630,000

Amortisation

At 1 April 2019

425,423

Amortisation for year

63,000

At 31 March 2020

488,423

Net book value

At 31 March 2020

141,577

At 31 March 2019

204,577

5.	Tangible fixed assets

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

Cost

At 1 April 2019

1,699,319

49,822

4,016

1,753,157

Additions

-

9,389

1,350

10,739

At 31 March 2020

1,699,319

59,211

5,366

1,763,896

Depreciation

At 1 April 2019

84,000

39,857

3,583

127,440

Charge for year

28,000

6,372

878

35,250

At 31 March 2020

112,000

46,229

4,461

162,690

Net book value

At 31 March 2020

1,587,319

12,982

905

1,601,206

At 31 March 2019

1,615,319

9,965

433

1,625,717

6.

Debtors: amounts falling due within one year

2020

2019

£

£

Trade debtors

21,018

8,493

Other debtors

20,025

20,924

41,043

29,417

7.

Creditors: amounts falling due within one year

2020

2019

£

£

Trade creditors

10,695

17,923

Amounts owed to associates

2,692,856

2,592,656

Taxation and social security

2,277

3,341

Other creditors

13,725

5,989

2,719,553

2,619,909

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

9.

Reserves

Retained

earnings

£

At 1 April 2019

(628,993

)

Deficit for the year

(139,332

)

At 31 March 2020

(768,325

)

10.	Related party disclosures

A loan from an associated company, Ranc Care Homes Limited, was received in 2012. There are no set repayment terms and no interest has been charged. The amount outstanding at the year end is £2,692,856 (2019 - £2,592,656).