Bright Start Day Care Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05588231 (England and Wales)

BRIGHT START DAY CARE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Mrs H D'Cruz NNEB, Cert Ed

Mrs J Brockiner

REGISTERED OFFICE:

c/o Cox Costello & Horne

26 Main Avenue

Moor Park

Northwood

HA6 2HJ

REGISTERED NUMBER:

05588231 (England and Wales)

ACCOUNTANTS:

Cox Costello & Horne

Chartered Accountants and Tax Advisors

26 Main Avenue

Moor Park

HA6 2HJ

FIXED ASSETS

Tangible assets

4

28,838

29,791

CURRENT ASSETS

Debtors

5

1,843

8,629

Cash at bank and in hand

61,613

85,166

63,456

93,795

CREDITORS

Amounts falling due within one year

6

27,383

30,977

NET CURRENT ASSETS

36,073

62,818

TOTAL ASSETS LESS CURRENT LIABILITIES

64,911

92,609

CREDITORS

Amounts falling due after more than one year

7

(30,596

)

(47,500

)

PROVISIONS FOR LIABILITIES

-

(3,027

)

NET ASSETS

34,315

42,082

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

34,313

42,080

SHAREHOLDERS' FUNDS

34,315

42,082

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 June 2022 and were signed on its behalf by:

Mrs H D'Cruz NNEB, Cert Ed - Director

1.	STATUTORY INFORMATION

Bright Start Day Care 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.

Going concern

The company meets its day-to-day working capital requirements through its bank facility. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months after signing the financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied. Services represent day care facilities for children of early years. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes. Turnover is wholly attributable to the principal activity of the company and arises solely within the United Kingdom.

Revenue is recognised in the period in which the services are provided based on attendance at the day care premises.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 25% on cost

All assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation. The cost of an asset initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Financial instruments

a) Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash at bank and in hand

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

-

the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

-

any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Following the government's introduction of automatic pension enrolment during 2013. the company has joined the authorised master trust The People's Pension (PP) pension scheme. The company's employees have joined the independently administered pension scheme. Employees contract directly with the pension scheme, and assets of those schemes are held separately from those of the company. The company acts as agent in collecting and paying over employee pension contributions. Once the contributions have been paid, the company as employer has no further obligations. As a defined contribution scheme, the cost to the company of participating in the PP scheme is taken as equal to the contributions to the scheme for the reporting period.

At the reporting date, contributions outstanding amounted to £804 (2020: £595).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2021 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

168,389

Additions

16,234

At 31 March 2022

184,623

DEPRECIATION

At 1 April 2021

138,598

Charge for year

17,187

At 31 March 2022

155,785

NET BOOK VALUE

At 31 March 2022

28,838

At 31 March 2021

29,791

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Other debtors

1,843

8,629

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loan

9,923

2,500

Trade creditors

-

2

Taxation and social security

5,806

11,132

Other creditors

11,654

17,343

27,383

30,977

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loan

30,596

47,500

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

-

7,500

8.	IMPACT OF THE COVID 19 PANDEMIC

The adverse impact of Covid-19 globally and nationally has been, and continues to be unprecedented. There remains significant uncertainty as to both the duration and quantum of Covid-19's effects on the company's business and the extent to which the company may benefit financially from support from central and local government. As such, there is a wide range of potential outcomes for the company's cash flows from the impact from Covid-19. The directors have considered the company's current key performance indicators to identify and quantify the potential impact of Covid-19 on the company's cash flows, although the actual impact could be materially different.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bright Start Day Care Limited for the year ended 31 March 2022 which comprise the Profit and Loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bright Start Day Care Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bright Start Day Care Limited and state those matters that we have agreed to state to the Board of Directors of Bright Start Day Care Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bright Start Day Care Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bright Start Day Care Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Bright Start Day Care Limited. You consider that Bright Start Day Care Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bright Start Day Care Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cox Costello & Horne

Chartered Accountants and Tax Advisors

26 Main Avenue

Moor Park

HA6 2HJ

21 June 2022