The Childcare Company Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03931913 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

The Childcare Company Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B C Ghelani

Mrs J B Ghelani

S B Ghelani

REGISTERED OFFICE:

Grace House

2 Grace Road

Leicester

LE2 8AD

REGISTERED NUMBER:

03931913 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Intangible assets

4

77,000

154,000

Tangible assets

5

1,811,066

523,111

Investments

6

104

104

1,888,170

677,215

CURRENT ASSETS

Debtors

7

1,490,930

1,077,309

Cash at bank and in hand

90,656

202,231

1,581,586

1,279,540

CREDITORS

Amounts falling due within one year

8

1,925,633

522,861

NET CURRENT (LIABILITIES)/ASSETS

(344,047

)

756,679

TOTAL ASSETS LESS CURRENT LIABILITIES

1,544,123

1,433,894

CREDITORS

Amounts falling due after more than one year

9

(331,126

)

(304,762

)

PROVISIONS FOR LIABILITIES

(12,460

)

(5,571

)

NET ASSETS

1,200,537

1,123,561

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,199,537

1,122,561

1,200,537

1,123,561

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 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.

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 14 December 2020 and were signed on its behalf by:

B C Ghelani - Director

1.	STATUTORY INFORMATION

The Childcare Company Holdings 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about The Childcare Company Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, 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 cost

Short leasehold

-

Over the term of the lease

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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

Assets obtained under the hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 9 (2019 - 98 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

770,000

AMORTISATION

At 1 April 2019

616,000

Charge for year

77,000

At 31 March 2020

693,000

NET BOOK VALUE

At 31 March 2020

77,000

At 31 March 2019

154,000

5.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 April 2019

557,212

76,571

4,435

Additions

1,299,518

-

-

At 31 March 2020

1,856,730

76,571

4,435

DEPRECIATION

At 1 April 2019

115,994

24,001

941

Charge for year

36,334

11,486

887

At 31 March 2020

152,328

35,487

1,828

NET BOOK VALUE

At 31 March 2020

1,704,402

41,084

2,607

At 31 March 2019

441,218

52,570

3,494

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2019

374,269

26,749

53,914

1,093,150

Additions

-

48,240

209

1,347,967

At 31 March 2020

374,269

74,989

54,123

2,441,117

DEPRECIATION

At 1 April 2019

356,500

26,749

45,854

570,039

Charge for year

3,251

3,460

4,594

60,012

At 31 March 2020

359,751

30,209

50,448

630,051

NET BOOK VALUE

At 31 March 2020

14,518

44,780

3,675

1,811,066

At 31 March 2019

17,769

-

8,060

523,111

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2019

and 31 March 2020

104

NET BOOK VALUE

At 31 March 2020

104

At 31 March 2019

104

7.

DEBTORS

31.3.20

31.3.19

£

£

Amounts falling due within one year:

Other debtors

937,430

523,809

Amounts falling due after more than one year:

Other debtors

553,500

553,500

Aggregate amounts

1,490,930

1,077,309

Other debtors due within one year include prepayments and accrued income of £6,092 (2019: £20,034).

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

15,939

43,496

Hire purchase contracts

6,068

-

Trade creditors

14,575

7,609

Amounts owed to group undertakings

533,095

104

Taxation and social security

26,145

97,742

Other creditors

1,329,811

373,910

1,925,633

522,861

Other creditors includes accruals and deferred income of £3,074 (2019: £320,131).

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans

119,729

304,762

Hire purchase contracts

38,285

-

Other creditors

173,112

-

331,126

304,762

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

44,995

141,755

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Bank loans

135,668

348,258

Hire purchase

44,352

-

180,020

348,258

Bank loan is secured on the assets of the company. Furthermore, a cross guarantee has been given between The Childcare Company Holdings Ltd, The Childcare Company (Grace Road) Ltd, The Childcare Company (Oadby) Ltd and The Childcare Company (Narborough) Ltd to secure all liabilities of each other.

Hire purchase liabilities are secured on the individual assets being so acquired.