Accounts filed on 31-08-2015
Accounts filed on 31-08-2015
trueBest Family Childcare Limited055257822015-08-312025781274102025801274122220258012741217899124154469651514265175191341175681129267636064238723928717165434951451423579215714089494620748949462074Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Related parties transactions
The directors have given a personal guarantee and mortgage charge over personal assets to cover
the overdraft.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date to the extent that they are likely to reverse in the forseeable future or where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Fixtures & FittingsReducing balance0.2500Office EquipmentReducing balance0.3300Leasehold PropertyStraight line0.1000CaravanReducing balance0.25001758391206525518786345585782776717583912065255187863455857827767The Company's banking facilities are, in part, secured by a Debenture dated 5 September 2005 and are also supported by a Guarantee given by the shareholders. Ordinary1000110001000Ordinary12222015-11-17Mr P T Besttruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureBest Family Childcare Limited2014-09-012015-08-31Best Family Childcare Limited2013-09-012014-08-31Best Family Childcare Limited2013-08-31Best Family Childcare Limited2014-08-31Best Family Childcare Limited2014-08-31Best Family Childcare Limited2015-08-31 2015-11-18
