1. Accounting policies

Basis of measurement and preparation of accounts

The financial statements have been prepared under the historical cost convention and in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Turnover policy

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. Nursery turnover is recognised as earned (that is, as the services are provided). Grant funding is received subject to specific performance conditions. Grant funding included in this category is recognised where there is entitlement, certainty of receipt and the amount can be measured reliably.

Tangible fixed assets depreciation policy

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold improvements - straight line over period of lease
Plant and machinery - 3 years straight line
Motor vehicles - 3 years straight line
Fixtures and fittings - 3 years straight line

Intangible fixed assets amortisation policy

There are no intangible assets.

Valuation information and policy

There are no assets that require revaluing.

Other accounting policies

Going Concern
On the basis of their assessment of the company's financial position and current year forecasts, the company directors' have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Cash flow
The company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

Operating leases
Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

Capital grants
Capital grants received are treated as deferred credits and released to the profit and loss account over the estimated useful life of the relevant fixed assets.

Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

2. Turnover

All turnover arose within the United Kingdom.

3. Directors' remuneration

During the year, no director received any emoluments (2015 - £NIL).

4. Employees

5. Operating surplus or (deficit)

Operating surplus or (deficit) before tax as stated after charging the following.

6. Tangible assets

7. Debtors

8. Creditors: amounts falling due within one year

9. Creditors: amounts falling due after more than one year

10. Operating lease commitments

11. Income and expenditure account

12. Company limited by guarantee

The company is limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.