Lakeside Day Nursery Limited - Period Ending 2015-11-30

Registration number: 07832846

Lakeside Day Nursery Limited
 
  Annual Report and Unaudited Abbreviated Accounts
 
  for the Year Ended 30 November 2014
 

DRP + Co Accountants Limited
Upper Floor
6 St John's Court
Enterprise Park
Swansea
C & C of Swansea
SA6 8QQ

Lakeside Day Nursery Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Lakeside Day Nursery Limited
(Registration number: 07832846)
Abbreviated Balance Sheet at 30 November 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					71,250			-
Tangible fixed assets					58,257			-
					129,507			-
Current assets
Debtors					9,172			-
Cash at bank and in hand					569			75
					9,741			75
Creditors: Amounts falling due within one year					(93,861)			-
Net current (liabilities)/assets					(84,120)			75
Total assets less current liabilities					45,387			75
Provisions for liabilities					(11,651)			-
Net assets					33,736			75
Capital and reserves
Called up share capital		3			75			75
Profit and loss account					33,661			-
Shareholders' funds					33,736			75

For the year ending 30 November 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 28 August 2015

.........................................
Mrs T L Barker
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Lakeside Day Nursery Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected usefull economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line over 20 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
Plant & machinery	15% straight line method
Fixtures & fittings	10% straight line method
Office equipment	25% straight line method

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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 2

Lakeside Day Nursery Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
Additions		75,000			65,395			140,395
At 30 November 2014		75,000			65,395			140,395
Depreciation
Charge for the year		3,750			7,138			10,888
At 30 November 2014		3,750			7,138			10,888
Net book value
At 30 November 2014		71,250			58,257			129,507

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		75			75			75			75

Page 3