Fairfield Montessori School Ltd - Period Ending 2014-08-31

Registration number: 07326588

Fairfield Montessori School Ltd
 
  Unaudited Abbreviated Accounts
 
  for the year ended 31 August 2014
 

Fairfield Montessori School Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Fairfield Montessori School Ltd
(Registration number: 07326588)
Abbreviated Balance Sheet at 31 August 2014

		Note			2014						2013
	£			£			£			£
Fixed assets
Intangible fixed assets								-						22,500
Tangible fixed assets								500,034						503,906
								500,034						526,406
Current assets
Debtors					1,504						3,438
Cash at bank and in hand					2,521						6
					4,025						3,444
Creditors: Amounts falling due within one year					(104,477)						(88,237)
Net current liabilities								(100,452)						(84,793)
Total assets less current liabilities								399,582						441,613
Creditors: Amounts falling due after more than one year								(390,145)						(431,069)
Net assets								9,437						10,544
Capital and reserves
Called up share capital		4			100						100
Profit and loss account					9,337						10,444
Shareholders' funds								9,437						10,544

Page 1

Fairfield Montessori School Ltd
(Registration number: 07326588)
Abbreviated Balance Sheet at 31 August 2014

For the year ended 31 August 2014 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 director acknowledges her 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 director on 22 May 2015

.........................................
Mrs K L Ware
Director

Page 2

Fairfield Montessori School Ltd
Notes to the Abbreviated Accounts for the year Ended 31 August 2014

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	written off over 4 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	10 years straight line
Equipment	3 years straight line

Investment properties

The director is of the opinion that the residual value of the property is no less than its present carrying value as it is the company's policy to maintain the property in good condition at all times through a regular repair programme. Therefore the depreciation is nil.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Fairfield Montessori School Ltd
Notes to the Abbreviated Accounts for the year Ended 31 August 2014

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2013		50,000			519,672			569,672
Additions		-			2,467			2,467
At 31 August 2014		50,000			522,139			572,139
Depreciation
At 1 September 2013		27,500			15,766			43,266
Charge for the year		22,500			6,339			28,839
At 31 August 2014		50,000			22,105			72,105
Net book value
At 31 August 2014		-			500,034			500,034
At 31 August 2013		22,500			503,906			526,406

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		16,923			16,923
Amounts falling due after more than one year		384,145			401,069
Total secured creditors		401,068			417,992

Included in the creditors are the following amounts due after more than five years:

		2014 £			2013 £
After more than five years by instalments		384,145			401,069

Page 4

Fairfield Montessori School Ltd
Notes to the Abbreviated Accounts for the year Ended 31 August 2014

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 5