What a Hoot Day Nursery Cramlington Ltd 31/10/2021 iXBRL

What a Hoot Day Nursery Cramlington Ltd 31/10/2021 iXBRL

WHAT A HOOT DAY NURSERY CRAMLINGTON LTD - Company Information

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Company registration number: 07262930
What a Hoot Day Nursery Cramlington Ltd
Pages for filing with Registrar
31 October 2021
What a Hoot Day Nursery Cramlington Ltd
Contents
Statement of financial position
Notes to the financial statements
What a Hoot Day Nursery Cramlington Ltd
Statement of financial position
31 October 2021
2021 2020
Note £ £ £ £
Current assets
Debtors 6 1,475 120
Cash at bank and in hand 224 13,361
_______ _______
1,699 13,481
Creditors: amounts falling due
within one year 7 ( 894) ( 7,032)
_______ _______
Net current assets 805 6,449
_______ _______
Total assets less current liabilities 805 6,449
_______ _______
Net assets 805 6,449
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 705 6,349
_______ _______
Shareholders funds 805 6,449
_______ _______
For the year ending 31 October 2021 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 05 January 2022 , and are signed on behalf of the board by:
H M Hurst
Director
Company registration number: 07262930
What a Hoot Day Nursery Cramlington Ltd
Notes to the financial statements
Year ended 31 October 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Northumberland Taxi & Coach Centre, South Albion Way Retail Park, Albion Way, Blyth, Northumberland, NE24 5BW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
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.
Going concern
The accounts have been prepared on a going concern basis. Having carried out a detailed review of the company's resources, the director is satisfied that the company has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of the accounts.
Turnover
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.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2020: 1 ).
5. Tax on loss/profit
Major components of tax income/expense
2021 2020
£ £
Current tax:
UK current tax income/expense ( 1,375) 1,710
_______ _______
Tax on loss/profit ( 1,375) 1,710
_______ _______
6. Debtors
2021 2020
£ £
Other debtors 1,475 120
_______ _______
7. Creditors: amounts falling due within one year
2021 2020
£ £
Corporation tax - 1,710
Other creditors 894 5,322
_______ _______
894 7,032
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
H M Hurst ( 4,000) 4,000 -
_______ _______ _______
2020
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
H M Hurst - ( 4,000) ( 4,000)
_______ _______ _______
9. Controlling party
The company is under the control of Mr.A.Hurst who owns the entire issued shares.