TOWNSEND_MONTESSORI_NURSE - Accounts

TOWNSEND MONTESSORI NURSERIES LTD - Company Information

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Company Registration No. 06525217 (England and Wales)

TOWNSEND MONTESSORI NURSERIES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Faulkner House

Victoria Street

Rayner Essex LLP

St Albans

Chartered Accountants

Herts

AL1 3SE

TOWNSEND MONTESSORI NURSERIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

TOWNSEND MONTESSORI NURSERIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

152,000

161,500

Tangible assets

1,123,590

1,160,839

1,275,590

1,322,339

Current assets

Debtors

1,332,797

1,243,971

Cash at bank and in hand

310,867

203,882

1,643,664

1,447,853

Creditors: amounts falling due within one year

(623,637)

(799,658)

Net current assets

1,020,027

648,195

Total assets less current liabilities

2,295,617

1,970,534

Creditors: amounts falling due after more than one year

(512,631)

(550,636)

1,782,986

1,419,898

Capital and reserves

Called up share capital

Profit and loss account

1,782,984

1,419,896

Shareholder's funds

1,782,986

1,419,898

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 October 2016

Mrs P Vigor

Director

Company Registration No. 06525217

TOWNSEND MONTESSORI NURSERIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Nil

Land and buildings Leasehold

Nil

Fixtures, fittings and equipment

25% straight line

Motor vehicles

25% reducing balance

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2015 & at 31 March 2016

190,000

1,449,180

1,639,180

Depreciation

At 1 April 2015

28,500

288,341

316,841

Charge for the year

9,500

37,249

46,749

At 31 March 2016

38,000

325,590

363,590

Net book value

At 31 March 2016

152,000

1,123,590

1,275,590

At 31 March 2015

161,500

1,160,839

1,322,339

TOWNSEND MONTESSORI NURSERIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £35,000 (2015 - £35,000).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £512,631 (2015 - £550,636).

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

TOWNSEND MONTESSORI NURSERIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Related party relationships and transactions

Loans from the director

Transactions in relation to loans from the director during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Director's Loan Account

(15,715)

(164,890)

(180,605)

(15,715)

(164,890)

(180,605)

No interest is payable by the company on the outstanding amount.