Little Diamonds Nursery Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07915496 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2021

FOR

LITTLE DIAMONDS NURSERY LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

973,276

13,274

CURRENT ASSETS

Debtors

5

35,798

42,947

Prepayments and accrued income

1,026

32,000

Cash at bank and in hand

666,382

1,013,769

703,206

1,088,716

CREDITORS

Amounts falling due within one year

6

297,827

312,063

NET CURRENT ASSETS

405,379

776,653

TOTAL ASSETS LESS CURRENT LIABILITIES

1,378,655

789,927

CREDITORS

Amounts falling due after more than one year

7

444,079

-

NET ASSETS

934,576

789,927

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

934,575

789,926

SHAREHOLDERS' FUNDS

934,576

789,927

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 November 2021 and were signed by:

H O'Sullivan - Director

1.	STATUTORY INFORMATION

Little Diamonds Nursery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

07915496

Registered office:

206 Northcote Road

Walthamstow

London

E17 7DH

The presentation currency of the financial statements is the Pound Sterling (£).

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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2020 - 46 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Short

and

Computer

property

leasehold

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 February 2020

-

-

43,510

2,427

45,937

Additions

954,025

6,954

-

2,097

963,076

At 31 January 2021

954,025

6,954

43,510

4,524

1,009,013

DEPRECIATION

At 1 February 2020

-

-

31,670

993

32,663

Charge for year

-

-

2,368

706

3,074

At 31 January 2021

-

-

34,038

1,699

35,737

NET BOOK VALUE

At 31 January 2021

954,025

6,954

9,472

2,825

973,276

At 31 January 2020

-

-

11,840

1,434

13,274

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Trade debtors

26,821

33,970

Other debtors

8,977

8,977

35,798

42,947

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Bank loans and overdrafts (see note 8)

44,947

-

Trade creditors

-

1,233

Taxation and social security

130,367

154,870

Other creditors

122,513

155,960

297,827

312,063

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.21

31.1.20

£

£

Bank loans (see note 8)

444,079

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

264,291

-

8.

LOANS

An analysis of the maturity of loans is given below:

31.1.21

31.1.20

£

£

Amounts falling due within one year or on demand:

Bank loans

44,947

-

Amounts falling due between one and two years:

Bank loans - 1-2 years

44,947

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

134,841

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

264,291

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.21

31.1.20

£

£

Bank loans

489,026

-

The bank loans are secured by way of a fixed charge over its freehold property at 204 Northcote Road, London, E17 7DH.

The bank loans are repayable over the period until 2030.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.21

31.1.20

value:

£

£

1

Ordinary

£1

1

1

11.	RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

31.1.21

31.1.20

£

£

Amounts owed by/(to) H O'Sullivan (Director)

(188

)

(739

)