Daisy Chain Day Care Nurseries Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04663138 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Daisy Chain Day Care Nurseries Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs A C Sanderson

M Sanderson

SECRETARY:

Mrs A C Sanderson

REGISTERED OFFICE:

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

REGISTERED NUMBER:

04663138 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Intangible assets

2

141,000

164,500

Tangible assets

3

45,096

40,620

186,096

205,120

CURRENT ASSETS

Debtors

48,696

33,040

Cash at bank and in hand

44,717

42,392

93,413

75,432

CREDITORS

Amounts falling due within one year

4

106,983

161,806

NET CURRENT LIABILITIES

(13,570

)

(86,374

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

172,526

118,746

CREDITORS

Amounts falling due after more than one
year

4

(28,602

)

(38,379

)

PROVISIONS FOR LIABILITIES

(5,464

)

(4,221

)

NET ASSETS

138,460

76,146

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

138,360

76,046

SHAREHOLDERS' FUNDS

138,460

76,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 19 September 2016 and were signed on its behalf
by:

Mrs A C Sanderson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis. The company has net current liabilities in

the current and previous year. No adjustments have been made that may have been found necessary if any other

basis of preparation had been used. The directors are reliant on the continued financial support of the bank and

are of the opinion that this support will be maintained and the trading performance will improve over the next 12

months.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Additional goodwill, paid in connection with the acquisition of a business in 2012, is being amortised evenly

over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

Government grants

Government grants received in respect of expenditure charged to the profit and loss account during the year have

been included in profit and loss.The remainder are deferred and included in the profit and loss account by

instalments over the expected useful lives of the related assets.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

365,000

AMORTISATION

At 1 April 2015

200,500

Amortisation for year

23,500

At 31 March 2016

224,000

NET BOOK VALUE

At 31 March 2016

141,000

At 31 March 2015

164,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

100,980

Additions

17,239

At 31 March 2016

118,219

DEPRECIATION

At 1 April 2015

60,360

Charge for year

12,763

At 31 March 2016

73,123

NET BOOK VALUE

At 31 March 2016

45,096

At 31 March 2015

40,620

4.

CREDITORS

Creditors include an amount of £ 64,862 (31/3/15 - £ 73,305 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/16

31/3/15

value:

£

50

Ordinary "A"

£1

50

Ordinary "B"

£1

50

100

Both classes of ordinary share rank pari passu save that the directors may declare dividends of different amounts

and at different times on each class of ordinary shares.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2016 and

31 March 2015:

31/3/16

31/3/15

£

Mrs A C Sanderson and M Sanderson

Balance outstanding at start of year

(18,756

)

-

Amounts advanced

146,096

-

Amounts repaid

(84,718

)

(18,756

)

Balance outstanding at end of year

42,622

(18,756

)

Interest has been charged at 3.00% on the overdrawn loan account.