Jelly Beans Montessori Nursery Limited Filleted accounts for Companies House (small and micro)

JELLY BEANS MONTESSORI NURSERY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08035351

Jelly Beans Montessori Nursery Limited

Filleted Unaudited Financial Statements

31 March 2022

Jelly Beans Montessori Nursery Limited

Statement of Financial Position

31 March 2022

	2022		2021
Note	£	£	£

Fixed assets

Intangible assets	5	–	3,000
Tangible assets	6	113,537	47,362
		---------	--------
		113,537	50,362

Current assets

Debtors	7	9,595	49,415
Cash at bank and in hand		40,417	54,664
		--------	---------
		50,012	104,079

Creditors: amounts falling due within one year	8	111,267		102,911
		---------		---------
Net current (liabilities)/assets			( 61,255)	1,168
			---------	--------
Total assets less current liabilities			52,282	51,530

Creditors: amounts falling due after more than one year	9	31,411	50,000
		--------	--------
Net assets		20,871	1,530
		--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	20,771	1,430
	--------	-------
Shareholders funds	20,871	1,530
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Jelly Beans Montessori Nursery Limited

Statement of Financial Position (continued)

31 March 2022

These financial statements were approved by the board of directors and authorised for issue on 13 December 2022 , and are signed on behalf of the board by:

Mrs S Drummond
Director

Company registration number: 08035351

Jelly Beans Montessori Nursery Limited

Notes to the Financial Statements

Year ended 31 March 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 109 Ashingdon Road, Rochford, SS3 1RF, Essex.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures, Fittings and Equipment	-	15% reducing balance
Motor Vehicles	-	10% straight line
Computer Equipment	-	40% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 35 (2021: 33 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2021 and 31 March 2022	30,000
	--------
Amortisation
At 1 April 2021	27,000
Charge for the year	3,000
	--------
At 31 March 2022	30,000
	--------
Carrying amount
At 31 March 2022	–
	--------
At 31 March 2021	3,000
	--------

6. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2021	52,379	51,400	4,348	108,127
Additions	89,201	–	–	89,201
	---------	--------	-------	---------
At 31 March 2022	141,580	51,400	4,348	197,328
	---------	--------	-------	---------
Depreciation
At 1 April 2021	27,519	30,840	2,406	60,765
Charge for the year	17,109	5,140	777	23,026
	---------	--------	-------	---------
At 31 March 2022	44,628	35,980	3,183	83,791
	---------	--------	-------	---------
Carrying amount
At 31 March 2022	96,952	15,420	1,165	113,537
	---------	--------	-------	---------
At 31 March 2021	24,860	20,560	1,942	47,362
	---------	--------	-------	---------

7. Debtors

	2022	2021
	£	£
Trade debtors	–	39,820
Other debtors	9,595	9,595
	-------	--------
	9,595	49,415
	-------	--------

8. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	10,939	–
Trade creditors	185	5,089
Corporation tax	31,508	56,201
Social security and other taxes	5,885	7,354
Other creditors	62,750	34,267
	---------	---------
	111,267	102,911
	---------	---------

9. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	31,411	50,000
	--------	--------

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2022
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs S Drummond	9,595	–	9,595
	-------	----	-------

	2021
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs S Drummond	8,940	655	9,595
	-------	----	-------

11. Related party transactions

The company was under the control of Mrs S Drummond throughout the current and previous year. Mrs Drummond is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed.