Rainbow Day Nursery (Newcastle) Limited - Accounts to registrar (filleted) - small 18.2

Rainbow Day Nursery (Newcastle) Limited - Accounts to registrar (filleted) - small 18.2

RAINBOW DAY NURSERY (NEWCASTLE) LIMITED - Company Information

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REGISTERED NUMBER: 04990928 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

FOR

RAINBOW DAY NURSERY (NEWCASTLE) LIMITED
RAINBOW DAY NURSERY (NEWCASTLE) LIMITED (REGISTERED NUMBER: 04990928)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAINBOW DAY NURSERY (NEWCASTLE) LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2020







DIRECTORS: Mr R K Jaspal
Mrs J Jaspal





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 04990928 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA
Page 1
RAINBOW DAY NURSERY (NEWCASTLE) LIMITED (REGISTERED NUMBER: 04990928)


BALANCE SHEET
31 MAY 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 775

CURRENT ASSETS
Stocks 1,450 1,450
Debtors 5 55,004 44,080
Cash at bank 36,929 26,344
93,383 71,874
CREDITORS
Amounts falling due within one year 6 77,593 42,616
NET CURRENT ASSETS 15,790 29,258
TOTAL ASSETS LESS CURRENT
LIABILITIES
15,790
30,033

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Retained earnings 15,690 29,933
15,790 30,033

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 notes form part of these financial statements

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RAINBOW DAY NURSERY (NEWCASTLE) LIMITED (REGISTERED NUMBER: 04990928)


BALANCE SHEET - continued
31 MAY 2020


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 15 May 2021 and were signed on its behalf by:





Mr R K Jaspal - Director


The notes form part of these financial statements

Page 3
RAINBOW DAY NURSERY (NEWCASTLE) LIMITED (REGISTERED NUMBER: 04990928)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2020


1. STATUTORY INFORMATION

Rainbow Day Nursery (Newcastle) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets 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.


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RAINBOW DAY NURSERY (NEWCASTLE) LIMITED (REGISTERED NUMBER: 04990928)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2020


2. ACCOUNTING POLICIES - continued
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.

Going concern
There has been some disruption to the business activities as a result of COVID-19, which affected the financial statements in the current period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2019 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2019
and 31 May 2020 17,512
DEPRECIATION
At 1 June 2019 16,737
Charge for year 775
At 31 May 2020 17,512
NET BOOK VALUE
At 31 May 2020 -
At 31 May 2019 775

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RAINBOW DAY NURSERY (NEWCASTLE) LIMITED (REGISTERED NUMBER: 04990928)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2020


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 13,995 13,995
Amounts owed by group undertakings 41,009 1,000
Other debtors - 29,085
55,004 44,080

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 1,950 -
Amounts owed to group undertakings - 5,376
Taxation and social security 47,421 18,177
Other creditors 28,222 19,063
77,593 42,616

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors operated a loan with the company with no fixed terms of repayment or interest. Amounts advanced during the year were Nil (2018 nil) and repayments amounting to £29,085 (2019 nil). At the year end the amount owing to the directors was £16,389 (2019 due to the company £29,085).

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