Play Away Day Nurseries Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02814442 (England and Wales)

Financial Statements for the Year Ended 31 March 2020

for

Play Away Day Nurseries Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Kellow

Mrs V L Kellow

REGISTERED OFFICE:

1 - 5 Chapel Road

West End

Southampton

Hampshire

SO30 3FE

REGISTERED NUMBER:

02814442 (England and Wales)

SENIOR STATUTORY AUDITOR:

Richard Roche

AUDITORS:

Roches Chartered Accountants

1 Manor Court

6 Barnes Wallis Road

Segensworth

Fareham

Hampshire

PO15 5TH

FIXED ASSETS

Tangible assets

4

177,906

187,404

CURRENT ASSETS

Debtors

5

449,014

95,911

Cash at bank and in hand

948,068

914,349

1,397,082

1,010,260

CREDITORS

Amounts falling due within one year

6

477,759

345,701

NET CURRENT ASSETS

919,323

664,559

TOTAL ASSETS LESS CURRENT LIABILITIES

1,097,229

851,963

PROVISIONS FOR LIABILITIES

6,379

5,464

NET ASSETS

1,090,850

846,499

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,090,750

846,399

SHAREHOLDERS' FUNDS

1,090,850

846,499

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2020 and were signed on its behalf by:

Mrs V L Kellow - Director

R Kellow - Director

1.	STATUTORY INFORMATION

Play Away Day Nurseries 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.

Turnover

Turnover represents invoiced fees in respect of nursery care.

Tangible fixed assets

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

Land and buildings

-

over the lease term

Plant and machinery etc

-

25% on cost, 15% on reducing balance and over the lease term

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Financial assets & financial liabilities are initially recognised at the transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. However, if the arrangement constitutes a financing transaction then it is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets & financial liabilities classified as receivable within one year are not amortised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 88 (2019 - 89 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 April 2019

105,764

172,889

57,306

Additions

-

-

6,381

Disposals

(3,417

)

-

(1,184

)

At 31 March 2020

102,347

172,889

62,503

DEPRECIATION

At 1 April 2019

44,177

85,657

39,347

Charge for year

3,133

4,587

3,105

Eliminated on disposal

(1,366

)

-

(865

)

At 31 March 2020

45,944

90,244

41,587

NET BOOK VALUE

At 31 March 2020

56,403

82,645

20,916

At 31 March 2019

61,587

87,232

17,959

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2019

82,716

8,742

427,417

Additions

1,201

3,607

11,189

Disposals

(11,491

)

(1,098

)

(17,190

)

At 31 March 2020

72,426

11,251

421,416

DEPRECIATION

At 1 April 2019

65,153

5,679

240,013

Charge for year

2,455

2,336

15,616

Eliminated on disposal

(9,221

)

(667

)

(12,119

)

At 31 March 2020

58,387

7,348

243,510

NET BOOK VALUE

At 31 March 2020

14,039

3,903

177,906

At 31 March 2019

17,563

3,063

187,404

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

18,577

4,046

Other debtors

430,437

91,865

449,014

95,911

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

130,759

91,153

Taxation and social security

165,418

77,864

Other creditors

181,582

176,684

477,759

345,701

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.20

31.3.19

£

£

Within one year

233,419

291,859

Between one and five years

896,539

907,958

In more than five years

2,906,500

3,128,501

4,036,458

4,328,318

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

The Report of the Auditors was unqualified.

Richard Roche (Senior Statutory Auditor)

for and on behalf of Roches Chartered Accountants

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

R Kellow and Mrs V L Kellow

Balance outstanding at start of year

27,438

71,394

Amounts advanced

267,680

34,751

Amounts repaid

(30,755

)

(78,707

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

264,363

27,438

The loan to the directors is repayable on demand and interest of 2.5% has been charged thereon.