Glebe Farm Nursery School Limited - Period Ending 2015-06-30

Registration number: 04610707

Glebe Farm Nursery School Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Saul Fairholm Limited
12 Tentercroft Street
Lincoln
LN5 7DB

Glebe Farm Nursery School Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Glebe Farm Nursery School Limited
(Registration number: 04610707)
Abbreviated Balance Sheet at 30 June 2015

		Note			30 June 2015 £			30 June 2014 £
Fixed assets
Tangible fixed assets		2			129,124			145,788
Current assets
Debtors					24,863			30,428
Cash at bank and in hand					116,263			91,700
					141,126			122,128
Creditors: Amounts falling due within one year					(96,354)			(97,235)
Net current assets					44,772			24,893
Total assets less current liabilities					173,896			170,681
Provisions for liabilities					(3,378)			(4,086)
Net assets					170,518			166,595
Capital and reserves
Called up share capital		3			99			99
Profit and loss account					170,419			166,496
Shareholders' funds					170,518			166,595

For the year ending 30 June 2015 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 directors acknowledge their 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 Board on 24 March 2016 and signed on its behalf by:

.........................................
Mr G A Owen-Jones
Director

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

Glebe Farm Nursery School Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... 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

Revenue represents the fair value of the consideration received or receivable for the provision of child care services, net of discounts. Revenue is recognised when it is probable that the economic benefits associated with a transaction will flow to the Company and the amount of revenue and associated costs can be measured reliably.

Goodwill

Goodwill being the amount paid in connection with the acquisition of a business over and above the fair value of the separate net assets has been written off evenly over its estimated useful life.

Depreciation

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

Asset class	Depreciation method and rate
Equipment	20% on reducing balance
Leasehold property improvements	5% on cost

Deferred tax

Full provision is made for taxation deferred in respect of all material timing differences. Deferred taxation assets are recognised only where it is probable than not that the amounts will be recoverable.

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

Glebe Farm Nursery School Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2014		130,000			240,496			370,496
Additions		-			3,323			3,323
At 30 June 2015		130,000			243,819			373,819
Depreciation
At 1 July 2014		130,000			94,708			224,708
Charge for the year		-			19,987			19,987
At 30 June 2015		130,000			114,695			244,695
Net book value
At 30 June 2015		-			129,124			129,124
At 30 June 2014		-			145,788			145,788

3	Share capital

Allotted, called up and fully paid shares

	30 June 2015						30 June 2014
		No.			£			No.			£
Ordinary shares of £1 each		99			99			99			99

4

Control

The company is controlled by Mr Owen-Jones, the majority shareholder .

Page 3